Funding Event
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InoBat snaps €100M to supercharge European EV battery industry
Slovakia-based battery maker InoBat has raised €100 million in equity funding. The investment came from strategic investors Amara Raja and Rio Tinto, with significant contributions from SIH (Slovakia’s sovereign wealth fund), Lilium, Bromo Capital, IPM Group, and Cielo Capital. Gotion, the Chinese battery cell maker, backed by the Volkswagen Group, also cements its partnership with InoBat by becoming a cornerstone investor in the round.
Over the next year, InoBat aims to ramp up production of European-designed battery cells, start an energy storage business in partnership with Gotion, and launch another investment round to support the scaling of its operations in Slovakia, Serbia, and Spain and accelerating growth in new regions.
Volta 1, InoBat’s R&D and low-volume, high-performance battery manufacturing facility in Volderady became fully operational with 150 people from 19 nationalities combining to make Europe’s only high silicon anode cell. The advancement of the GIB (Gotion InoBat Batteries) gigafactory in Šurany, Slovakia. This state-of-the-art facility is set to address Europe’s rising demand for safe, sustainable batteries.
Fervo Energy Secures Additional $255 Million Funding to Meet Unprecedented Energy Demand
Fervo Energy, the leader in next-generation geothermal development, announced that it has secured $255 million in new funding and capital availability as it continues to build the world’s largest enhanced geothermal systems (“EGS”) power development. The announced funding comprises both opportunistic corporate equity and new debt financing.
Capricorn’s Technology Impact Fund II led the $135 million corporate equity round. Fervo is excited to welcome new investment and continued support from a suite of high-caliber investors, including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.
In addition to corporate equity, Fervo secured a $120 million letter of credit and term loan facility from Mercuria, one of the world’s largest independent energy and commodity groups. The facility will provide additional liquidity for Fervo to accelerate the deployment of EGS projects across the U.S. as it seeks to meet skyrocketing demand for clean, firm power.
AI-powered spare parts management drives €4M funding for Stuttgart’s Synthavo
Stuttgart-based Synthavo has secured €4M in seed funding to revolutionise spare parts ordering with its AI-powered spare parts management platform. The round was co-led by Samaipata, a pan-European VC specialising in digital businesses, and Senovo, an investor backing European B2B software startups. The funding round also included participation from active business angels such as Rainer Hundsdörfer, and Oliver Bendig. The capital will drive strategic hiring, European expansion, and lay the groundwork for Synthavo’s entry into the U.S. market.
The company’s cutting-edge AI solution enables machine manufacturers to streamline spare parts ordering, boost operational efficiency, and reduce costly machine downtime. Synthavo AI spare parts management is transforming a traditionally manual process, allowing clients to identify and order spare parts instantly.
London-based TG0 snaps £4.5M to advance AI-powered physical products
London-based TG0, a startup reshaping the human-machine interface landscape, has snapped £4.5 million in Series B funding. The round was led by NetmindAI with additional support from WP Health. This round follows the £2 million funding secured a few months back.
The investment will enable TG0 to expand its global team, enhancing capabilities across the entire client journey from product design to mass manufacturing. With an increasing demand for innovative, sustainable, and design-driven solutions, the funding positions the company to solidify its role as a leader in the AI hardware tech industry.
Databricks is Raising $10B Series J Investment at $62B Valuation
Databricks, the Data and AI company, announced its Series J funding. The company is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion and is led by Thrive Capital. Along with Thrive, the round is co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other significant participants include existing investor Ontario Teachers’ Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management.
The company has seen increased momentum and accelerated growth (over 60% year-over-year) in recent quarters largely due to the unprecedented interest in artificial intelligence. To satisfy customer demand, Databricks intends to invest this capital towards new AI products, acquisitions, and significant expansion of its international go-to-market operations. In addition to fueling its growth, this capital is expected to be used towards providing liquidity for current and former employees, as well as pay related taxes. Finally, this quarter marks the first time the company is expected to achieve positive free cash flow.
Slip Robotics Raises $28M Series B Financing Led by DCVC
Slip Robotics, a next-generation provider of automated truck-loading robots-as-a-service, has raised a $28 million Series B financing led by DCVC, a leading Silicon Valley venture capital firm specializing in deep tech. The investment reflects Slip’s rapid growth with industry-leading customers – including John Deere, GE Appliances, Valeo, and Nissan – who are using SlipBots to load and unload any truck in just 5 minutes.
Slip Robotics is tackling one of the supply chain’s universal inefficiencies: truck loading and unloading. For over 100 years, truck trailers have been loaded and unloaded using the same basic methods. Because of this, truckers spend 23% of their workday idling at loading docks waiting for forklift operators to load and unload their trailers, while forklift operators rush to carry freight between the trailer and staging area despite 25% of all industrial accidents taking place at the loading dock.
Slip empowers people to auto-load and auto-unload any truck in just 5 minutes using SlipBots. SlipBots cut conventional 30 to 60-minute loading times to just 5 minutes, providing a faster, safer, and scalable solution for growing logistics demands. Unlike other automated solutions, SlipBots handle any type of freight, at any dock, with no infrastructure modification, and with zero Wi-Fi or complex IT integration required. This broad applicability and ease of deployment has fueled Slip’s rapid adoption and expansion with customers.
Valeo, a multinational automotive parts manufacturer, used SlipBots to reduce their trailer load/unload times from 30 minutes to just 5 minutes. SlipBots seamlessly integrated into their operations, enabling employees to increase dock throughput by 6x, reduce forklift traffic by 8x, and increase safety at the loading dock.
T-robotics Secures $5.4M Seed Funding and Applies AI to How Industrial Robots Understand, Learn, and Adapt to Complex Manufacturing Environments
T-robotics, a developer of programming for any robot using natural language and skill models with no code required, announced it has raised a $5.4 million Seed round, co-led by Emergent Ventures and Engine Ventures with Berkeley Skydeck and Raisewell participating. T-robotics will use the fresh capital to expand its U.S. and E.U. operations. Additionally, the company was selected as one of just two winners, from among a group of more than 100 global applicants, in the ABB AI Startup Challenge.
T-robotics’s software, ActGPT, is robot-agnostic and integrates with a variety of commercial robotic solutions, such as robotic arms or mobile robots, and leverages multi-modal data streams from vision, haptics, and language inputs to empower robots with enhanced problem-solving capabilities.
Mantis Robotics Secures $5M to Redefine Robotics through Physical AI
Mantis Robotics, a pioneer in Physical AI for robotic automation, announced it has secured $5M in new investments led by Emerald Technology Ventures with participation from the Amazon Industrial Innovation Fund. This cash infusion will enable Mantis Robotics to scale its operations, enhance its product portfolio, and expand its presence in the rapidly growing industrial robotics market.
Mantis has entered the next frontier in robotics by creating the first adaptive, human-centered robots. The company makes industrial robotic arms that are inherently safe for human interaction, eliminating the need for costly and complex external safeguards such as fences or laser barriers. Mantis’ technology learns and understands its environment based on sensor data from a proprietary built-in sensor-suite. This enables Mantis Robots to detect obstacles and humans in its direct environment and adjust the robot’s behavior accordingly in real-time, making robot arms safe and autonomous.
The robot’s intuitive deployment software with a 3D real-time Digital Twin, requires no technical or coding knowledge to use, making them accessible for diverse industries and users. By reducing operational complexity, Mantis’ robot systems can result in savings of as much as 75% in a typical robotic deployment. The company’s transformative technology has the potential to advance industries far beyond manufacturing and warehousing, paving the way for a new era of human-machine collaboration.
Bpacks logs €1M pre-seed funding for world’s first bark-based, 100% compostable packaging
Bpacks, which claims to have developed the world’s first bark-based packaging technology to replace plastics, has secured €1 million in pre-seed funding. This move underscores investor confidence in its innovative, sustainable packaging technology. This funding comes amid a surge in investments in packaging startups, including recent deals of Movopack and IonKraft.
The company will use the investment to accelerate its growth by establishing a manufacturing facility in Spain by 2025. The funding will also support scaling the production of bark-based pellets and packaging products, advancing its R&D capabilities in Belgrade, and laying the groundwork for expansion into the US market by 2026. This will enable Bpacks to meet the rising demand for sustainable packaging solution.
Archer Announces Strategic Partnership With Anduril to Develop Hybrid VTOL Military Aircraft; Raises An Additional $430M
Anduril and Archer (NYSE: ACHR) announced an exclusive partnership to jointly develop a hybrid VTOL aircraft for critical defense applications targeting a potential program of record from the DOD.
With Archer’s ability to rapidly develop advanced VTOL aircraft using existing commercial parts and supply chains and Anduril’s deep expertise in artificial intelligence, missionization, and systems integration, the partnership will accelerate speed to market for critical hybrid VTOL capabilities at a fraction of the cost of more traditional alternatives.
Archer’s efforts on this project will be part of its new Archer Defense program. To support this initiative and for other general corporate purposes, Archer raised $430M in additional equity capital, with participation from Stellantis, United Airlines, and new institutional investors, including Wellington Management and Abu Dhabi investment holding company 2PointZero, a subsidiary of UAE’S largest listed entity, IHC. Archer ended Q3’24 with $502M of cash and cash equivalents on its balance sheet and this raise brings Archer’s total capital raised to nearly $2B to date. Following this capital raise, and together with Archer’s other announced financing arrangements, Archer believes it is now well-positioned with one of the sector’s leading balance sheets with no near-term financing needs.
Ayar Labs, with Investments from AMD, Intel Capital, and NVIDIA, Secures $155 Million to Address Urgent Need for Scalable, Cost-Effective AI Infrastructure
Ayar Labs, the leader in optical interconnect solutions for large-scale AI workloads, announced it has secured $155 million in financing led by Advent Global Opportunities and Light Street Capital to break down the AI bottleneck of data movement with its optical I/O technology. This brings the company’s total funding to $370 million and raises the company’s valuation to above $1 billion. The strength of the round and caliber of investors, including participation from AMD Ventures, Intel Capital, and NVIDIA, marks another key milestone as Ayar Labs prepares its optical solution for high volume manufacturing strategically aligned to customer roadmaps. Other new strategic and financial investors participating in the round include 3M Ventures and Autopilot. They join existing investors such as Applied Ventures LLC, Axial Partners, Boardman Bay Capital Management, GlobalFoundries, IAG Capital Partners, Lockheed Martin Ventures, Playground Global, and VentureTech Alliance.
Ayar Labs has developed the industry’s first in-package optical I/O solution to replace electrical I/O that is standards-based, commercial-ready, and optimized for AI training and inference. Optical I/O allows customers to maximize the compute efficiency and performance of their AI infrastructure, while reducing costs and power consumption, to dramatically improve profitability metrics for AI applications.
Electrified Thermal Secures $19 Million in Venture Financing from Leading Global Industrials and Venture Capital Firms to Electrify Industry
Boston-based Electrified Thermal Solutions, a leader in electrified heating and thermal energy storage solutions, has raised $19 million to accelerate the commercial demonstration and growth of its MIT-developed Joule Hive Thermal Battery (JHTB) system. The round is backed by world-leading industrials in the mining, metals, building materials and energy sectors, including Holcim MAQER Ventures, Vale Ventures, TechEnergy Ventures, EDP Ventures and Tupras Ventures alongside financial investor GVP Climate and follow-on investors, Clean Energy Ventures and Starlight Ventures, with participation from Mass Ventures and Clean Energy Venture Group.
Industrial heat processes, a critical yet overlooked source of global emissions, continue to challenge decarbonization efforts. Accounting for 20% of greenhouse gas emissions – 85% of which are derived from fossil fuel combustion – these energy-intensive sectors lack cost-effective options for decarbonization. Electrified Thermal’s innovative solution leverages renewable electricity sources to generate zero-carbon heat at unprecedented temperatures. Its patented brick technology is the first thermal energy storage system to reliably deliver ultra-high temperatures reaching up to 1,800°C / 3,275°F. This breakthrough enables cost-efficient electrification across industrial sectors and applications, by providing zero-carbon heat generation that matches the flame temperatures industrial processes require.
This funding keeps Electrified Thermal on course to have its first-of-a-kind commercial demonstration operational in 2025, the critical next step in decarbonizing industry. The investment will help Electrified Thermal lay the foundation for scaling manufacturing and support efforts to expand its industrial customer base and secure contracts. Electrified Thermal’s 2025 JHTB demonstration will propel it forward on its mission to deploy 2GWs of thermal power capacity by 2030.
Embotech Receives CHF 23.5 M in Funding to Expand Autonomous Driving Solutions for Logistics in Europe and Beyond
Embotech, an innovator in autonomous driving solutions for industrial logistics, has received 23.5 million CHF (~$27 million USD) in Series B funding to help the company scale its Automated Vehicle Marshalling (AVM) and Autonomous Terminal Tractor (ATT) solutions in Europe, and ultimately in the United States, Middle East, and Asia. The funding round is led by Emerald Technology Ventures and Yttrium, with additional funds from BMW i Ventures, Nabtesco Technology Ventures, Sustainable Forward Capital Fund, RKK VC and existing investors.
Embotech, short for embedded optimization technologies, has already secured landmark multi-year rollout contracts for its AVM solution in finished vehicle logistics and its ATT solution for port and yard logistics applications.
For its AVM business, Embotech has signed a multi-year contract with automaker BMW to install its solution in six passenger car factories worldwide by the end of 2025. With the rollout ongoing since late 2023, Embotech’s technology is already driving hundreds of cars per day through final production and is set to scale up to several thousands of vehicles per day in early 2025. The solution is already operational in BMW’s Dingolfing and Leipzig plants with Regensburg currently in progress. By the end of 2025, the technology will also be operational at BMW’s plant in Spartanburg, South Carolina. Embotech is the only vendor in the market with a certified AVM solution and the only player with experience in a production environment.
New BMW vehicles are guided along a one-kilometer route between two assembly facilities, through a squeak and rattle track, and to the finishing area – with no driver needed at any stage of the journey. The Embotech AVM system requires no changes to the vehicles and uses off-the-shelf LiDAR sensors installed on existing infrastructure. The technology can be adapted for all vehicle models and to changing factory layouts to accommodate growing production volumes and new production layouts. BMW expects to log millions of kilometers over the next decade with this system.
D-Wave completes $175-million USD stock sale to fuel quantum computing development
D-Wave Quantum has raised $175 million USD ($246 million CAD) in gross proceeds through a recent stock sale. The Canadian-founded, New York Stock Exchange (NYSE)-listed quantum computing company plans to use this capital to fuel its technical development efforts and business operations. Following this financing, D-Wave expects to close out 2024 with at least $160 million in cash.
Over the past two years, D-Wave has faced multiple non-compliance warnings for failing to meet the NYSE’s continued listing standard for minimum stock price, as its shares repeatedly fell below $1 apiece for more than 30 consecutive days.
Haber Raises $44M to Scale Smart Manufacturing Solutions in North America
Haber, a leading smart manufacturing startup, has successfully raised $44 million in its Series C funding round, which included $38 million in equity and $6 million in debt. The funding round was led by Creaegis, BEENEXT, and Accel, demonstrating strong investor confidence in the company’s innovative AI-driven solutions and its vision for global expansion.
This infusion of capital will fuel Haber’s expansion into North America — a region where the demand for cutting-edge manufacturing technology is soaring. Haber’s AI-powered automation solutions are designed to optimize manufacturing processes, enhance efficiency, and minimize environmental impact, transforming industries from the inside out.
ANYbotics Raises Additional $60 Million to Drive U.S. Expansion
ANYbotics, a global leader in AI-driven robotic inspection solutions, has raised an additional $60 million, bringing its total funding to over $130 million. The new funding is led by Qualcomm Ventures and Supernova Invest, with participation from TDK Ventures and other new investors. Backed by existing investors from Silicon Valley and Europe, including Walden Catalyst, NGP Capital, Bessemer Venture Partners, Swisscanto, and Swisscom Ventures, the funding will accelerate ANYbotics’ global scaling and recent expansion in the U.S. to meet the growing demand for its industrial inspection robots and enhance the company’s ability to deliver exceptional services and seamless integrations worldwide.
ANYbotics is revolutionizing safety, efficiency, and sustainability in the energy, power, metals, mining, and chemical industries. Thanks to large orders from industry leaders such as BP, Equinor, Petrobras, Novelis, and Outokumpu, the company is experiencing unprecedented growth and is expanding globally. Recent milestones include opening an office in Silicon Valley strategically positioned to enhance support and accelerate deployments for its growing North American customer base. With its innovative technology and trusted partnerships, ANYbotics is poised to redefine industrial inspection worldwide.
Global scaling efforts are further backed by collaborations with leading partners, including AWS, NVIDIA, SAP, SLB, Equans, and Siemens Energy. These alliances strengthen ANYbotics’ ability to deliver cutting-edge AI-driven solutions, integrate seamlessly into complex industrial environments, and broaden ANYbotics’ global reach.
Nanoramic Raises $44 Million Funding Co-Led by GM Ventures and Catalus Capital, With Participation from Samsung Ventures, to Advance the Commercialization of Neocarbonix®
Nanoramic, a pioneer in advanced battery technology, today announced a successful $44 million financing. The round was co-led by General Motors Ventures and Catalus Capital, with participation from Samsung Venture Investment Corporation, Top Material, and existing investors, including Fortistar Capital and WindSail Capital Group. The investment will significantly bolster Nanoramic’s efforts to commercialize its groundbreaking Neocarbonix® technology across a broad range of industries and applications.
Nanoramic’s proprietary Neocarbonix® technology breaks down key barriers to mass electrification, targeting dramatic improvements in cost, performance, and sustainability of batteries. The technology is a PFAS (“forever chemical”)-free solution for lithium-ion batteries and eliminates the need for conventional NMP solvents, allowing for sustainable solvent alternatives for improved manufacturing worker safety. Neocarbonix® offers a powerful and practical solution for battery manufacturers to stay ahead of the curve and be at the forefront of environmentally friendly battery manufacturing. It drops into existing manufacturing lines for rapid adoption under Nanoramic’s flexible and asset-light business model.
Cofactr Raises $17M Series A to Streamline Supply Chain So Hardware Manufacturers Can Iterate Fast While Complying With Regulations and Policies
Cofactr, a supply chain and logistics management platform that streamlines production, processes and policies for critical hardware manufacturers, today announced the close of its $17.2M Series A funding round. The raise was led by Bain Capital, one of the world’s leading private investment firms, which invests in companies that are transforming traditional industries. It was joined by existing Seed investors Y Combinator, Floating Point Ventures, Broom and DNX. The new investment brings Cofactr’s total funding to $28.8 million.
Cofactr’s platform is already in use by 50+ companies, representing a mix of hardware manufacturers and R&D groups at major digital enterprises with ambitious plans to diversify into hardware products. These customers span both high-compliance sectors, such as aerospace, defense, robotics and medical technology, and consumer-facing industries, such as autonomous vehicles and wearables. With an initial focus on electronics, Cofactr is now seeing significant demand from companies navigating electromechanical and mechanical supply chains as well.
The company will use the funding to build on this momentum by scaling go-to-market efforts and growing its suite of supply chain risk management and process tools. The company plans to introduce additional product categories, with multiple applications slated to launch each year.
Eureka Robotics Raises USD 10.5 Million Series A to Accelerate Deployment of Physical AI for Precision Manufacturing and Logistics
Singapore-based start-up Eureka Robotics has raised a USD 10.5 million Series A round led by B Capital (a global multi-stage investment firm), with participation from new investors Airbus Ventures, Maruka Corporation, G. K. Goh Ventures, and returning investors UTEC and ATEQ.
The financing round positions the company to accelerate the development and deployment of its main products, Eureka Controller and Eureka 3D Camera. Eureka Controller, a comprehensive solution for vision and robotics applications, enables high-precision calibration and robust force control, and acts as a central hub for connecting and controlling a wide range of industrial devices. Eureka 3D Camera, designed to add efficient and cost-effective 3D vision capabilities to robotic systems, uses ground-breaking AI-based, projector-free 3D reconstruction technology. Together, these products enable System Integrators and Manufacturers to deploy High Accuracy – High Agility (“HA-HA”) applications including picking, object recognition, inspection in factories and warehouses, allowing robots to perform tasks with greater precision.
The funding will also help scale the company’s operations in existing markets of Singapore and Japan, as well as enable Eureka to fully enter the US market, where the company has already acquired initial customers. Using the funds obtained in the previous Pre-Series A round led by UTEC, Eureka had established a branch office in Tokyo and gained significant traction in the Japan market. With additional funding, Eureka plans to expand operations into new major Japanese cities, such as Nagoya and Osaka.
Eureka’s proprietary HA-HA (High Accuracy – High Agility) technology bridges the gap between AI and physical manufacturing, combining high-agility intelligence with high-accuracy spatial precision. This innovation enables robots to handle complex tasks, such as autonomously assembling car engines, with both adaptability and micron-level precision. Eureka has successfully implemented this technology in real-world factory settings, completing over 25 million operations for industry leaders in Japan and the United States, including Toyota, Denso, Bridgestone, Mitsui Fudosan, Sumitomo Bakelite, Pratt & Whitney, and Coherent.
Syncell Announces $15 Million Series A Funding to Accelerate the Global Commercial Growth of Its Protein Purification and Spatial Proteomics Technology
Syncell, a leader in next-generation subcellular protein purification and spatial proteomics analysis, announced the close of a $15 million Series A funding round, bringing its total raised to $30 million. The investment will be used to expand and accelerate the global commercialization and commercial support for the company’s groundbreaking Microscoop platform. The round was led by Taiwania Capital, with participation from new and existing investors.
The pioneering Microscoop platform enables high-precision, unbiased, spatial proteomic discovery in subcellular tissues or cells, and has the ability to accurately discover new protein components from predetermined regions of interest. The technology also enables spatial protein purification for proteomic discovery, helping researchers identify cell subtypes and states, novel protein drug targets at disease-associated locations, biomarkers for disease, and mechanisms of biological pathways. The technology can power research focused on oncology, neurodegenerative diseases, infectious diseases, metabolic diseases, and developmental biology, as well as a range of drug discovery applications. Syncell recently won a Biotech Breakthrough Award with the Microscoop platform named “Proteomics Solution of the Year” for 2024.
Leading Materials Science R&D Platform Albert Invent Announces $22.5 Million Series A and Launches Breakthrough™ to Accelerate Chemical Innovation
Albert Invent, whose end-to-end R&D platform accelerates chemical innovation in materials science using AI, announced a $22.5 million Series A funding round led by Coatue, with participation from TCV, Index Ventures, F-Prime, and Homebrew. The capital will be used to expand the engineering team, enhance the platform’s capabilities, and scale operations to meet growing demand.
As part of the announcement, the company also introduced Albert Breakthrough™, the first-ever AI solution built specifically for chemists. Albert Breakthrough combines centralized, structured data with specialized, user-friendly AI to optimize complex experiments, predict molecular properties, and generate novel formulations. As a core component of Albert’s end-to-end platform, Breakthrough marks a paradigm shift in material science innovation, enabling chemical companies to develop new products with unprecedented speed and performance.
The news builds on the company’s momentum over the last six months, in which it added customers like Chemours, Solenis, Keystone Industries, and Applied Molecules. Additionally, Henkel and Nouryon have expanded their relationship with Albert Invent. Now, thousands of scientists around the world leverage Albert’s solution to accelerate innovation and get products to market faster.
Azimuth AI: Edge Computing Silicon Company Closes $11.5 Million In Funding
Azimuth AI Inc. a startup specializing in producing highly customized silicon products for edge and embedded computing markets has closed a $11.5M venture round. Founded in 2022, Azimuth AI is focused on developing purpose-built SoCs (System-on-chip) products for, smart city, 2/3-wheeler vehicles, and other edge computing applications. The Team at Azimuth has designed and delivered 30+ silicon products to market working at leading semiconductor companies in the Silicon Valley and India. Currently Azimuth AI has offices in Sacramento, USA and Hyderabad, India.
The venture round was led by Cyient, a global Intelligent Engineering services company headquartered in Hyderabad, India. The company had announced previously that the strategic investment to acquire a stake in Azimuth AI, marks a significant milestone in its efforts to expand its capabilities and drive innovation across the semiconductor industry.
Fleet Space Closes USD$100M Series D with USD$525M Valuation
Fleet Space Technologies (Fleet Space), Australia’s leading space exploration company, announced the closing of a USD$100M Series D funding round, led by Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, and joined by existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures. The new investment will be used to expand the capabilities of Fleet Space’s global end-to-end exploration platform, ExoSphere, to accelerate the discovery of critical minerals needed for Earth’s clean energy future.
“The ability to meet the rapidly increasing demand for critical minerals presents a significant challenge to achieving global net-zero targets,” said Rick Prostko, Senior Managing Director, Teachers’ Venture Growth. “Current mineral exploration methods are inadequate for efficient discovery and production. Fleet Space addresses this with advanced 3D subsurface imaging and AI analysis tools, which have the potential to sustainably transform the industry. We are proud to support the multidisciplinary team at Fleet Space in their efforts to accelerate the global energy transition.”
RapidCanvas gets $16M as it successfully puts AI agents to work, addressing tech talent shortage
As AI adoption accelerates, a critical shortage of technical talent threatens to bottleneck progress for many companies. RapidCanvas is breaking this barrier by democratizing AI-driven business transformation. The company announced a $16M funding round for its AI agents that automate up to 75% of complex tasks traditionally performed by data scientists and engineers. These agents, powered by Large Language Models (LLMs), can process vast amounts of information, identify patterns, and make decisions, effectively replicating many human skills.
The Series A funding round was led by Peak XV, with additional participation from Titanium Ventures and existing investors Accel and Valley Capital Partners. This brings RapidCanvas’s total funding to over $23.5M since its inception in 2021.
Nysnø invests in the Norwegian Water Technology Company Flocean
Flocean, a pioneer in subsea desalination technology, has successfully closed its Series A funding round, raising 90 million NOK. The round was led by Burnt Island Ventures, Nysnø Climate Investments and Freebird Partners, with additional support from Norway- and U.S.-based energy and ocean industry investors.
The funding round positions Flocean to expand globally. By deploying its patented technology, the company will offer a sustainable and robust solution to freshwater scarcity.
With expertise from its parent company, FSubsea, which has installed over 70 deep-water pumps, Flocean is well-positioned to deliver sustainable, scalable, and reliable solutions for freshwater supply. It is great to see that expertise from Norway’s oil and gas industry can be applied to address a global challenge with new Norwegian technology, Johannessen adds.
Powernaut raises €2.4 million to decentralise the energy sector
Belgian software startup Powernaut has raised €2.4 million from leading European investors to accelerate the energy transition away from fossil fuels by building the next generation of power plants. The funding round was led by Berlin-based Revent, joined by Seedcamp (London), Pitchdrive (Antwerp), and Syndicate One (Brussels). The fresh capital will support Powernaut on its mission to decentralise the energy sector and reduce the reliance on fossil fuels entirely, all while lowering costs for consumers.
Traditionally, large centralised power plants generated electricity for everyone, but now millions of decentralised devices—such as solar panels, batteries, electric vehicles, and heat pumps—are generating and consuming power locally. The European Commission predicts up to 10 million electric vehicle charging stations will be needed by 2030, along with more than doubling the current solar panel installations. This rapid growth in decentralised infrastructure presents significant challenges for energy suppliers and grid operators. While this shift is reducing our dependency on fossil fuels, our electricity grids weren’t designed for these new interconnections, and urgent changes are needed to support ongoing electrification and decarbonisation efforts.
Powernaut’s software helps energy suppliers manage this design shift by optimising millions of decentralised devices. Rather than just focusing on local energy generation, it ensures these devices are integrated effectively with the wider grid, balancing local production with grid demands. This coordination enables energy suppliers to offer new, cost-effective solutions to consumers while eliminating dependence on fossil fuels.
Uplift360 targets niche materials recycling
More than $1 million in funding raised by Luxembourg-based recycling firm Uplift360 will go toward developing chemical recycling technologies for materials such as Kevlar, used in body armor applications, and Twaron, used in cable production and transportation applications. Uplift360’s latest funding round includes support from Chicago-based Promus Ventures and London-based Twin Track.
“This funding will enable Uplift360 to scale its recycling technology and expand its team of scientists as it develops a first-of-its-kind concept demonstrator,” the recycling research firm says.
Founded in 2021 and led by CEO Jamie Meighan and Chief Technology Officer Sam Staincliffe, Uplift360 has operations in Luxembourg and the United Kingdom. The firm says its low-temperature recycling processes address “a critical challenge in European industries” such as defense, aerospace, and automotive, which face growing pressure to reduce waste and environmental impact while retaining access to high-performance materials.
The company cites materials producers, including United States-based DuPont and Japan-based Teijin Ltd., as companies it engages with to develop its emerging materials recycling processes. Uplift360 also says it is working with materials producers to develop on-site recycling facilities designed to minimize disposal costs and reclaim material for their production processes.
Molten Salt Solutions Secures $3 Million in Silicon Valley Seed Funding to Advance Adoption of Nuclear Energy
Molten Salt Solutions is pleased to announce the successful close of its Seed funding, securing $3 million from Silicon Valley firms Future Ventures and True Ventures. This investment will support the development of the company’s first commercial-scale lithium isotope enrichment process.
Currently, there is no commercial source of enriched lithium isotopes, and conventional enrichment methods are not suitable for industrial-scale production. Molten Salt Solutions addresses this demand with its enrichment process, paving the way for a sustainable isotope supply.
Molten Salt Solutions developed and demonstrated the company’s proprietary technology with SBIR funding from the National Science Foundation and in collaboration with Los Alamos National Laboratory. The company will use equity funding to refine its technologies and establish the first pilot production. These advancements will position Molten Salt Solutions as a primary supplier to the advanced nuclear and fusion sectors, facilitating commercial deployment of MSRs and fusion systems.
Reveal Technology raises $11M to scale ‘decision dominance’ tools for DOD
Reveal Technology is one notable standout in this effort. The 6-year-old startup has been working with multiple branches of the U.S. Department of Defense to put its flagship software product into the hands of operators. That software, called Farsight, can rapidly convert video from drones into 3D maps that live on a smartphone. The company is already in production with a number of programs with the Army, Special Operations Command, Marine Corps, and some foreign militaries.
Farsight offers major advantages over the status quo, which is generally smartphones preloaded with two-dimensional maps. Those maps are often generated from years-old satellite data, and they frequently fail to reflect the changing nature of a battlefield, Reveal co-founder and CEO Garrett Smith explained in a recent interview.
Along the way, the startup also acquired DFL Technology to onboard its product, Identifi, a mostly smartphone-based biometrics and human identity data collection and verification system. The through line between Reveal’s two products is the decision dominance piece: providing tactical information at the edge and in mobile environments. If Farsight is all about navigating the physical terrain, Smith said, “Identifi is all about the human terrain.”
Investors have been paying attention: The company just closed a $11.2 million Series A led by Next Frontier Capital, with participation from defy.vc and 8VC, to scale its team and build out its product lineup — to do nothing less than, as Smith put it, “dominate the mobile and edge space.”
AQEMIA Hits $100 Million Funding Milestone, Paving Way to Clinical Trials and Global Expansion Starting with London, UK
AQEMIA, a pioneering techbio that teaches atomic scale physics to a generative AI to invent innovative medicines, announces two major milestones: $100 million in cumulative funding and the beginning of a global expansion starting with London (United Kingdom).
The new $38 million funding round, led by new investor Cathay Innovation, brings total funds raised since inception to over $100 million. This round, coming less than a year after the previous one, follows the successful validation of AQEMIA’s drug discovery platform through outstanding results in internal preclinical programs and pharmaceutical partnerships, particularly in oncology. The funding will support AQEMIA’s development goals, including preparations for clinical trials.
AQEMIA will also use the proceeds to continue to advance its technology platform—teaching quantum-inspired, atomic-scale physics to generative AI—to transform drug discovery, designing innovative and safe small-molecule drugs with high efficiency. By teaching theoretical physics to the generative AI, AQEMIA does not need experimental data to train on, unlocking truly innovative molecular designs, further away from existing molecules—a key challenge for genAI. The drug discovery platform is now proven to work, as demonstrated by AQEMIA’s recent preclinical successes: (i) in their most advanced oncology programs with in vivo results, which continue to progress toward clinical trials, and (ii) through AQEMIA’s $140 million collaboration with Sanofi, announced in December 2023, which already underscored the platform’s potential and strong industry recognition.
Raptor Maps Closes $35 Million Series C Financing to Drive Next-Generation Solar Asset Management Solutions
Booming electricity demand. Record-breaking supply of low-cost, clean power at unprecedented scale. These are the fundamentals of the global energy economy and the backdrop to which Raptor Maps announces its oversubscribed Series C financing round. The $35 million growth investment was led by Maverix Private Equity (“Maverix”), with significant participation from existing investors MKB, Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and Y Combinator.
The investment underscores the critical need for the industry to address years of solar asset underperformance and highlights the increasing impact of advanced analytics and digital solutions in the solar market. Since its inception, Raptor Maps has developed software to help solar energy scale and has digitized the leading solar portfolios in the North American and global markets. With the recent introduction of Raptor Solar Sentry, an industry-first software product that orchestrates solar operations and maintenance work by people and robotics, the company has proven the path for owners to realize double digit gains on solar financial returns.
The Series C financing will accelerate Raptor Maps’ product development, including enhancements in solar automation, work management, and machine-learning insights. Additionally, the company plans to expand its team with further investments in software engineering and data science.
Arctic Instruments raises €2.3 million to advance quantum computing amplifiers
Arctic Instruments, a spinout from VTT Technical Research Centre of Finland, has secured €2.3 million in funding for the research, development and commercialisation of its superconducting microwave amplifier technology. The funding round was led by the Finnish venture capital firm Lifeline Ventures. This investment will support Arctic Instruments in its mission to meet the increasing demand for high-quality amplifiers needed for scaling quantum computing.
The company’s ability to manufacture near-quantum-limited amplifiers consistently and in volume is critical for enabling the construction of large-scale quantum computers with accurate qubit state readout. According to Arctic Instruments, they are the only manufacturer already capable of supplying thousands of amplifiers of the required quality and consistency.
Semicon startup Netrasemi raises Rs 10 crore in Pre Series A round from Unicorn India Ventures to build Edge AI
Kerala-based Semiconductor startup Netrasemi has raised Rs 10 crore in a Pre Series A round from Unicorn India Ventures to build Edge AI for IoT products. Funds raised will be used for fabrication of two ML SoC chips (Netra A2000 and Netra R1000)
Founded in 2020 by Jyothis Indirabhai, Sreejith Varma and Deepa Geetha, Netrasemi is an Indian Edge AI semiconductor technology company building system-on-chips (SOC) to enable the new-age need for optimal computing for smart IoT products. With a strong 61 member team, the company is bringing a family of AI/ML capable SOCs and reference designs for solving 100+ AI/ML use cases making Edge AI product development efficient, simple and economical. These chips go into motherboards that make these products capable of doing advanced AI-based analytics without the need for sending the data to servers and the cloud hence, making them smart, cheap, responsive and independent. The company is bringing a family of AI/ML capable SOCs and reference designs for solving 100+ AI/ML use cases making Edge AI product development efficient, simple and economical.
Partful’s 3D models ‘explode’, and so does its funding with €6 million secured to develop SaaS platform
Partful, a Manchester-based startup specialising in interactive 3D technology, has raised €6 million to accelerate the automation of its 3D aftersales SaaS platform for original equipment manufacturers (OEMs). The funding round was led by Northern Gritstone, with participation from Par Equity and US-based Blumberg Capital. This latest investment brings Partful’s total funding to €13.5 million since receiving €2.8 million in July 2023 and its first seed round in January 2022.
Since its inception in 2017, Partful has focused on creating user-friendly, accessible solutions to streamline aftersales operations for OEMs. Available in 71 languages, the platform seeks to reduces costly order errors, improves manufacturer revenues, and limit product downtime by enabling faster parts fulfilment and repair processes.
According to Partful, the manufacturing aftersales market is valued at €607 billion globally, and Partful’s technology is well-positioned to engage in its digital transformation. The platform has already been adopted by OEM customers such as Lotus, Lear, Kolpak, and Ideal Heating.
MakersHub: Accounts Payable Company Raises $7 Million
MakersHub, a next-generation accounts payable platform for data-driven businesses and their accounting partners, announced it has raised an additional $7 million of Seed funding. QED Investors and TTV Capital led the round, which brings MakersHub’s total funding to $11.5 million.
The funding round included participation from existing investors Dash Fund, four angel investors, and new investor TRB Advisors. This funding round will support MakersHub’s rapid customer growth by accelerating investment in platform infrastructure and scaling the sales and marketing teams. QED Partner Laura Bock and independent advisor Athletic Brewing Company CEO Bill Shufelt will join the Board of Directors.
MakersHub helps companies with heavy accounts payable process needs by capturing data and enabling users to utilize it meaningfully. It Also saves businesses and accounting professionals time, reduces errors, and facilitates deeper, more accurate business insights.
Pixxel: Space Tech Company Raises $24 Million (Series B Extension)
Pixxel – a US-India-based space technology company building the world’s highest-resolution hyperspectral satellite constellation – announced the closing of $24 million in additional funding as part of its Series B round. This new funding brings the total Series B funding to $60 Million. Pixxel has raised $95 million with this round across all funding rounds.
The Series B extension round added new investors, M&G Catalyst and Glade Brook Capital Partners, who join existing backers Google, Radical Ventures, Lightspeed, and others. And this funding positions Pixxel as one of the highest-funded space-tech startups in India and the highest-funded hyperspectral imaging company globally, reinforcing its goal to build a health monitor for the planet through advanced earth observation satellites and drive impactful climate action.
The funding will enable Pixxel to accelerate the development and launch of its entire constellation of 18 commercial hyperspectral satellites, which are planned for the near future. It will also support the growth of Pixxel’s software offerings, including Aurora, its AI-based Earth Observation platform, which enables seamless analysis and actionable insights for diverse applications from hyperspectral data.
Humtown and Fabri: two visions shaping the future of AM in foundries
Fabri completed a $5 million seed funding round, led by Lavrock Ventures with participation from RTX Ventures, Tenon Ventures, and SBXi. This funding represents a major step forward in the company’s mission to revolutionize the investment casting industry by delivering precision metal castings with unparalleled speed and cost-effectiveness.
Fabri’s strategy addresses long-standing challenges in the investment casting sector, which is crucial for industries such as aerospace, automotive, and industrial equipment. By combining rapid manufacturing processes with precision engineering, Fabri helps businesses stay ahead of evolving market demands. Its advanced design software optimizes casting designs to minimize waste while ensuring superior quality, delivering a seamless, cost-effective experience to its customers.
The $5 million seed funding will enable Fabri to scale its operations and enhance proprietary technologies. This investment also facilitates broader market reach, allowing the company to provide its transformative solutions to a wider audience and empowering businesses to innovate without compromise. The company’s backers’ support highlights the industry’s recognition of Fabri’s ability to deliver value and transformative change.
Oxford Flow receives $25M funding from bp Ventures and EIP
bp Ventures and EIP co-led the $25 million Series C funding round that will be used to scale up Oxford Flow’s operations.
Originally founded by Professor Thomas Povey in 2015, Oxford Flow is a spin-out of the Oxford Thermofluids Institute (OTI), an internationally renowned facility for aerospace solutions for jets and rockets, at the University of Oxford. The company’s technology has no mechanical drive train, stem or diaphragm, mitigating failure modes and leak paths and helping to address some of the challenges faced by the energy sector including improving valve reliability, reducing maintenance costs, and minimising fugitive emissions.
Oilfield services provider Flowco shows revenue surge in US IPO filing
Oilfield services provider Flowco showed a surge in revenue when it filed paperwork for a U.S. initial public offering, becoming the latest to capitalize on a recent revival in investor appetite for newly listed stocks. Flowco did not reveal the number of shares it intends to sell or the potential size of its offering, but Reuters reported in September, citing sources, it could seek a valuation of as much as $2 billion.
Flowco’s business is divided into two segments - production solutions and natural gas technologies. It saw total revenue surge to $349.3 million in the nine months ended Sept. 30, versus $167.9 million a year earlier.
Prima Secures $42.5 Million to Transform Manufacturing Across North America
Prima, a technology-first manufacturing and supply chain integrator creating a more reliable procurement experience for North American companies, announced that it has raised USD $23 million in funding, bringing its total funding in previously-undisclosed rounds to USD $42.5 million. Prima’s investors include Acrew, Quona Capital, Nazca, Greenoaks, Canary, NXTP, Picus Capital, Endeavor, Fluent Ventures, K50 Ventures, Marathon Ventures, Box Group and WTI, as well as 110+ angel investors from the industrial ecosystem. The funds will allow Prima to expand its operations and continue its quest to elevate Mexico’s manufacturing base to higher standards and address key industry issues of availability, quality, fulfillment rates, and cost – all of which have long plagued manufacturing and supply chains in Mexico in particular.
Prima manages every step of the manufacturing process, from design, engineering and raw material procurement to factory floor operations, quality control and delivery. The company currently works with more than 150 companies across North America across mining, cement and energy; retail and hospitality; industrial equipment procurement; electrical and electronic components and more. Prima’s innovative and holistic approach has fueled the company’s rapid growth, as it gains a foothold in the U.S.
Rl Core Technologies Announces Successful Close of $5 Million Seed Round Funding Led by TQ Ventures
RL Core Technologies, (RLCore) has closed a USD $5 million Series Seed funding round led by TQ Ventures, a leading New York-based venture capital fund, with participation from Flying Fish Ventures. RL Core Technologies provides deep learning software which boosts the efficiency and reliability of industrial control systems.
RLCore has proven that its software solutions can lower two of the largest drivers of cost in water treatment- energy and chemical consumption - resulting in increased efficiency, reduced operational expenses, and consistent regulatory compliance. For its customers, RLCore has conducted automatic PID tuning improving flow rate 50% over default, achieved fully automatic chlorine injection allowing for precise dosing and attained a 20% improvement in backwash.
RLCore employs reinforcement learning to improve the efficacy and performance of industrial control systems. Reinforcement learning is a branch of artificial intelligence where software learns to make decisions to achieve improved performance while interacting with its environment as opposed to imitating humans. It was inspired by animal learning and psychology and mimics trial-and-error learning processes used by humans to achieve goals.
Cocoa-Tech Company Celleste Bio Closes $4.5M Seed Round to Scale Production of Cell Cultured Cocoa
Celleste Bio, an early-stage cocoa-tech company, announced the closing of a $4.5M seed financing round led by Supply Change Capital, with participation from Mondelēz International’s SnackFutures Ventures, Consensus Business Group, The Trendlines Group, Barrel Ventures and Regba Agriculture. Celleste will use the funding to accelerate R&D, infrastructure, and technological capabilities needed to pilot and scale production of its cell-cultured cocoa ingredients.
Celleste was founded in 2022 to meet the world’s rising demand for chocolate in the face of supply chain challenges created by climate change and outdated, conventional farming practices. Celleste uses a combination of AgTech, BioTech and AI computational models to grow 100% natural cocoa from one or two beans in optimal, controlled conditions, year-round.
Tractian Raises $120M to Eliminate Industrial Downtime Worldwide
Tractian, a leader in Manufacturing AI, secured $120M in Series C funding led by Sapphire Ventures, with participation from General Catalyst, Next47, and NGP Capital. This latest investment solidifies the Atlanta-based company as a key player in the industrial maintenance space.
This funding will accelerate Tractian’s mission to optimize machine performance and ensure unprecedented uptime. As the Industrial Copilot, Tractian stands out by providing integrated hardware and software solutions for industrial asset monitoring, physical operations, and maintenance management, helping companies ensure zero downtime and improve technicians’ productivity.
Tractian continues to drive innovation with a team of 200+ engineers dedicated to R&D across data, software, and hardware. In 2024, the company filed 12 patents, highlighting its commitment to proprietary technologies. Tractian plans to expand its portfolio of patented solutions in 2025 while attracting top-tier talent in engineering, data science, and go-to-market teams.
AMP Raises $91 Million in Series D Funding to Revolutionize Waste
AMP Robotics Corp. (“AMP”), a leading provider of AI-powered sortation at scale for the waste and recycling industry, has raised $91 million in corporate equity in a Series D financing led by Congruent Ventures. The round featured participation from current and new investors, including Sequoia Capital, XN, Blue Earth Capital, Liberty Mutual Investments, California State Teachers Retirement System (CalSTRS), Wellington Management, Range Ventures, and Tao Capital Partners.
AMP will use the latest funding to accelerate the deployment of its AMP ONE™ systems, which are capable of cost-effectively sorting municipal solid waste (MSW), as demonstrated by the first-of-its-kind system AMP operates in Portsmouth, Virginia. Last month, AMP also entered into an agreement with Waste Connections, Inc. (TSX/NYSE: WCN) to equip and operate one of Waste Connections’ single-stream recycling facilities in Colorado. AMP ONE provides a full-scale facility solution to sort various material streams and capture more of the billions of dollars in value otherwise lost to landfills or incinerated annually.
FibreCoat, world leader in materials technology, secures close to €20m from NewSpace Capital and other investors
FibreCoat, a world leader in materials technology, has raised close to €20 million from NewSpace Capital, Goose Capital, Nova Saint-Gobain, 212 NexT, Otto Krahn New Business, Convergent Ventures and TiE in its Series B raise.
The company, which was founded in Germany in 2020 but has been developing its technology since 2014, has invented a novel technology to coat metals and plastics onto fibers, thus combining the properties of the fibers and the coating material, during the fibre spinning process. Its products offer strength, conductivity, and recyclability at a fraction of the weight and cost of their competitor products. This is thanks to the team’s extensive expertise and strong research-and-development background at RWTH Aachen University, where the founding team worked at the Institute for Textile Technology.
FibreCoat’s materials, which are lightweight, cost-effective, high-performance and have widespread applications, have proven themselves in a number of industries, and are now well-positioned to meet surging demand in the space and defense sectors. Robust material is essential for the durability and reliability of military equipment in hostile environments.
Quindi raises €525K Seed for smart manufacturing production co-pilot
Smart manufacturing startup Quindi has raised €525,000 in initial Seed funding. Founded in 2022, Quindi has developed the first Production copilot, an advanced AI solution that integrates all data from machinery, orders, and people to optimise production flows.
Through the combined use of proprietary data and algorithms, Quindi enables production roles to know in real-time any critical event, such as a machine anomaly or the unexpected absence of an employee, and to act proactively. Staff receive operational guidance to overcome critical issues, while production managers can re-schedule production in real-time, choosing from different production scenarios proposed by Quindi.
The funding was raised from Open Venture, a venture capital vehicle born within the Open Advisory ecosystem and ELIS Group, a consortium of more than 140 companies pursuing open innovation, vocational education and sustainable development goals.
D-Fend Solutions Raises $31M to Fortify Cyber Counter-Drone Technology and Market Leadership
D-Fend Solutions, the leader in field-proven radio frequency (RF) cyber-based, non-kinetic, non-jamming, counter-drone – takeover technology, announced that it has secured $31M in the initial closing of a new investment round. The round was led by Israel Growth Partners (IGP), with participation from existing investor Vertex Ventures and new investor Vertex Growth. This funding underscores the critical role of D-Fend’s proven innovations in enabling full control, safety, and continuity for security agencies in multiple sectors, while acting against continually rising rogue drone incidents across complex and sensitive environments. With this investment round, IGP General Partner Uri Erde join’s D-Fend’s Board of Directors, joining existing investor board members Yoram Oron of Vertex Ventures and Rami Hadar of Claridge Israel.
The funding will enable D-Fend to solidify its technological leadership and capabilities, expand its market reach into new territories and sectors, and advance its ability to tackle new and evolving drone risks. The funding round comes on the heels of strong continuous year-over-year revenue growth of over 60% and diverse and balanced expansion across geographies, sectors, and use cases. D-Fend’s global installed base has now reached nearly 30 countries, including Five Eyes (FVEY) alliance, G7 and major NATO member states. This investment will further support efforts to address constantly changing threats, penetrate additional market segments, integrate with more partners and technologies, and establish a stronger global presence for the company.
Rosy Soil Raises $3.6 Million to Create Gardening Soil From Captured CO2
Rosy Soil, a sustainable soil company created to offset the negative environmental impact of producing traditional peat-based potting mixes announces the closing of a $3.6 million seed round. The funding will fuel the company’s mission to transform the horticulture industry by creating high-performance soils that capture CO2.
Founded in 2022, Rosy Soil has rapidly expanded its reach, scaling direct-to-consumer, and partnering with major retailers like Target, as well as hundreds of independent plant shops and nurseries across the United States. The company’s innovative approach to soil science has garnered significant attention, with a dedicated team of researchers, PhD advisors, and an in-house soil lab conducting hundreds of plant trials.
With the new funding, Rosy Soil will accelerate its product development efforts, expand its retail footprint, and grow its team of talented individuals. Rosy Soil’s investors include Draper Associates, Superorganism, Climate Capital, and Boost VC. Rosy Soil is also backed by Seth Goldman, co-founder of Honest Tea, Brandin Cohen, founder of LiquidIV and Ben Chesler, co-founder of Imperfect Foods.
enSights Raises $10M to Scale its AI-Powered Clean Energy Optimization Business
enSights, an AI-powered, cloud-based clean energy optimization and management platform company, announced that it completed a $10 million Series A funding round, co-led by venture capital firms JAL Ventures and XT VC, with the participation of the Menomadin Foundation. The infusion of funds will support the company in expanding its global footprint, especially in the US market, by establishing local headquarters and hiring a team of industry professionals. In addition, the company will continue strengthening its ecosystem of SaaS solutions that simplify the business of energy management and optimization.
Experienced renewable energy entrepreneurs Alon Mashkovich, CEO, and Roy Fadida, CPO, co-founded enSights in 2021 with Dekel Yaacov, CTO, to develop a 360-degree, AI-powered energy optimization and management platform that scales business operations while maximizing the financial and energy performance of renewable assets. Since its inception, enSights became its local market leader in the distributed generation segment and expanded into the European market in 2022. With hundreds of active users managing more than 1.6 GWp on enSights’ platform, its automation and smart workflows currently help optimize the daily operations of over 6,000 clean energy assets. Already a financially stable company, this latest capital raise ideally positions the company for sustained long-term growth.
HappyRobot Raises $15.6 Million Series A Funding Led by a16z to Transform Logistics with Agentic AI
HappyRobot, a pioneer in AI-powered voice solutions for the logistics sector, announced it has secured $15.6 million in Series A funding. The round was led by Andreessen Horowitz (a16z), with participation from Y Combinator and strategic industry investors, including RyderVentures. This latest funding follows an earlier, previously undisclosed, pre-seed round raised 1.5 years ago, backed by Array Ventures and other angel investors.
HappyRobot’s conversational AI platform uses agentic AI to simplify logistics operations, with an initial focus on the complex communication needs of freight brokerage. Agentic AI refers to AI systems that can autonomously make decisions and take actions to achieve specific goals, adapting their behavior based on their environment and experiences. It goes beyond simple task execution by exhibiting a degree of initiative and goal-directed behavior. By automating tasks like inbound and outbound calls, carrier negotiations, and data capture, HappyRobot enables brokers to significantly enhance efficiency and capacity, improve margins, and free up human agents to focus on higher-value activities.
Heirloom Raises $150 Million Series B to Rapidly Scale Commercial Direct Air Capture
Heirloom, America’s leading Direct Air Capture (DAC) technology provider, has raised $150 million in Series B funding. The round was co-led by Future Positive, and Lowercarbon Capital - which also invested in Heirloom’s Series A. A range of new industrial investors, including Japan Airlines Co., Ltd., Mitsubishi Corporation (Americas), Mitsui & Co., Ltd., and Siemens Financial Services, representing difficult to decarbonize sectors of the economy – automotive, shipping, aviation, and advanced manufacturing — also participated. This is a strong vote of confidence in Heirloom’s ability to be a leading pathway to net zero. The funding will be used to continue to drive down the cost of the technology, develop additional projects and provide the funding needed to subsequently access infrastructure capital.
New investors in Series B include: Future Positive, H&M Group, Japan Airlines Co., Ltd., Mitsubishi Corporation (Americas), Mitsui & Co., Ltd., MOL Switch LLC, Quantum Innovation Fund, and Siemens Financial Services among others. Repeat investors include leading climate and carbon removal investors like Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital, Lowercarbon Capital, and MCJ Collective.
Since its founding in 2020, Heirloom has progressed rapidly to become one of the world’s leading DAC companies. Heirloom is part of the team building Project Cypress — a Department of Energy supported DAC Hub, which is eligible for up to $600 million in government funding, and which will bring one million tons of yearly CO2 removal capacity to Louisiana and will create nearly 1,000 new jobs. Heirloom has received strong bi-partisan U.S. political support, as demonstrated by their recently unveiled plans for a number of Louisiana facilities, including an initial 17,000 ton facility set to be operational in 2026. Late last year, Heirloom began operating North America’s first commercial DAC facility in Tracy, California, shortly after signing one of the largest CO2 removal deals to date with Microsoft. The company has also signed deals to provide carbon removal to Stripe, Meta, Shopify, JPMorgan, McKinsey, Workday, H&M Group, Autodesk, and others.
CleanFiber secures $20M in federal funds to help expand nationally
With $20 million in grants secured from the U.S. Department of Energy, CleanFiber is opening new plants in Washington and Texas. These grants are part of more than $75 million in financing vehicles, grants, and tax credits the Buffalo-headquartered startup has secured in 2024.
The company, which makes building insulation from recycled corrugated cardboard supporting energy efficiency, moved to Buffalo after winning $500,000 in the 43North business competition in 2016. The company was founded in Massachusetts in 2013 and was originally named UltraCell.
Eagle Electronics Announces Formation of State-of-the-Art Electronics Manufacturing Facility, $14mm of Funding, and Customer Commitments
Eagle Electronics, a new leader in high-tech electronics and cellular module production, is proud to announce it has raised $14mm, led by the O.H.I.O. Fund with participation from Asymmetric Capital Partners, to establish cutting-edge manufacturing technology and operations in Solon, Ohio, in partnership with CO-AX Technology. This strategic initiative marks a significant milestone in the company’s commitment to onshoring the advanced high-tech supply chain to the United States.
Eagle Electronics’ new facility aims to be the most advanced electronics manufacturing plant in the United States, leveraging cutting-edge surface-mount technology manufacturing equipment. The Solon, Ohio manufacturing operation is also expected to create numerous jobs in Ohio, further establishing the state as a key player in the U.S. semiconductor industry. Ohio’s Lieutenant Governor, Jon Husted, added, “Eagle is further proof that Ohio is becoming one of the world’s leading semiconductor manufacturing hubs. With the addition of Eagle, we’re bringing more jobs in this sector to Northeast Ohio, reinforcing our commitment to the ‘Made in Ohio’ strategy.”
Acceleron Fusion Secures $24M Series A Led by Lowercarbon Capital and Collaborative Fund to Revolutionize Clean Energy with Muon-Catalyzed Fusion
Acceleron Fusion, a pioneer in muon-catalyzed fusion energy, has closed a $24 million Series A funding round. The round was co-led by Lowercarbon Capital and Collaborative Fund. This funding marks a significant step in advancing a breakthrough fusion technology that could redefine the future of clean energy while enhancing energy security and independence.
The funding will fuel Acceleron’s efforts to advance its unique approach to clean, safe, and abundant energy. Traditional fusion machines require extreme temperatures of 100 million degrees Celsius. Acceleron’s technology uses muons—heavy subatomic particles—to achieve fusion reactions at temperatures below 1,000 degrees Celsius. This approach could speed the transition of fusion from the lab to practical, deployable power plants. Muon-catalyzed fusion, first discovered in the 1950s, is a proven and well-understood physical process. In the mid 1980s, several groups worldwide demonstrated more than 100 fusion reactions per muon, raising the possibility that the process could be used to generate energy. However, calculations done at the time concluded that it would take more energy to power the muon source than could be released by the fusion.
Acceleron is developing an intense, high-efficiency muon source to produce beams of muons using significantly less energy than current facilities, and a high-density fusion cell to allow each of these muons to catalyze larger numbers of fusion reactions. The company is building on decades of previous work in muon production and muon-catalyzed fusion by university and national lab researchers – and leveraging recent advances in materials science, computer simulation, and machine learning to develop the technology to the level of efficiency needed for energy production.
SRTX secures US$25M funding from Investissement Québec
SRTX has announced a $25 million USD investment from Investissement Québec as a lead participant in its current fundraising round. This funding will support the company’s efforts to expand and solidify its position as a leader in the textile sector, while continuing to grow its vertical manufacturing operations in Quebec.
This latest round of fundraising is supporting SRTX’ drive to scale its manufacturing capacity and strengthen its research and development capabilities as it grows across all its distribution channels and innovates new materials. In 2023, the company expanded its operations into a new 300,000-square-foot, state-of-the-art facility in Pointe Claire (Montreal) where it has established a highly automated, vertically integrated manufacturing plant within a building that has room to expand to meet its growth. This new facility is unique, converting UHMWPE powder into finished products, and will enable SRTX to continue to drive its costs down as it expands the market leading position of its tights product, Sheertex.
Italian energy storage startup Reefilla raises €4.5M in funding, launches equity crowdfunding campaign
Reefilla, a Turin, Italy-based energy storage startup that provides mobile power generation using second-life batteries, has secured €4.5 million in funding. The round was led by CDP Venture Capital through its Green Transition-PNRR fund.
The new funding will enable Reefilla to grow its footprint in Italy and international markets while advancing its research and development efforts. The company is working on “Made in Italy” technologies to repurpose end-of-life batteries, turning them from waste into valuable resources.
Tenstorrent closes $693M+ of Series D funding led by Samsung Securities and AFW Partners
Tenstorrent is announcing that it has closed over $693M in its Series D funding round at a pre-money valuation of $2B. Samsung Securities and AFW Partners led the round, which was oversubscribed due to strong demand from investors. Samsung and AFW both have deep relationships with Tenstorrent, and a strong history of investing in pioneering technology companies. In addition to the leads, many notable investors joined the round including XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, LG Electronics, Hyundai Motor Group, Fidelity Management & Research Company, Baillie Gifford, Bezos Expeditions, and more.
Tenstorrent builds and sells computers for artificial intelligence that are built using its Tensix cores. In addition to selling hardware, the open-source software stacks really set Tenstorrent apart from other players in the market. Tenstorrent licenses AI and RISC-V intellectual property to customers that want to own and customize their silicon.
Tenstorrent Raises $693 Million Series D
AI chip and IP startup Tenstorrent has raised $693 million in an oversubscribed Series D round including both financial and strategic investors, based on a pre-money valuation of $2 billion. The round was led by Samsung Securities and AFW Partners and new investors include XTX Markets, LG Electronics, Hyundai Motor Group and Bezos Expeditions. The funding will support Tenstorrent’s plans to deploy its IP, silicon and system products.
Tenstorrent’s $693 million Series D follows competitor Groq’s $640 million round in August 2024. Prior to that, it seemed the investment climate for AI chip companies had cooled, in part due to the AI chip industry’s failure to take any significant market share from leader Nvidia.
Vooma Scores Over $16 Million in Seed and Series A Funding Led by Index and Craft Ventures
Vooma, a powerful and fast-growing AI platform designed for freight brokers and carriers of all sizes, announced it secured $13 million in Series A funding led by Craft Ventures. The Series A adds to a previous $3.6 million seed round led by Index Ventures with participation from angel investors including founders and executives from major logistics and technology companies such as Motive, Project44, Ryder and Uber Freight. The investments in Vooma, driven by strong customer demand, underscore the company’s market potential and technology, and accelerate its trajectory for continuing growth.
Vooma’s AI platform empowers logistics companies to more rapidly and efficiently scale their operations by reducing time spent on tedious and manual work and creating space to solve real logistical challenges, while also investing in relationships that are critical to success. The company has built Vooma Agents, the first-of-its-kind multi-channel AI platform for logistics. Agents built on Vooma’s platform can operate across email, text and voice channels, allowing for automation in workflows that were previously unaddressable by existing systems.
Since its launch in 2023, Vooma has attracted many of the logistics industry’s top brokers and carriers as customers, including Echo, MODE, Arrive Logistics and NFI. Vooma has grown revenue by 12.5x, increased transaction volume by over 32x and built hundreds of thousands of loads. The company is also partnering with leading communication, pricing and transportation management systems including Front, Greenscreens.ai, McLeod and Turvo.
POSCO to buy Korean robotics firm stake for steel business
South Korea’s steel-to-battery materials conglomerate POSCO Group will invest in the leading domestic robotics company to boost its ailing steel business through factory automation as it seeks a new growth engine.
Neuromeka Co., Korea’s top collaborative robotics maker, announced on Friday it will issue 10 billion won ($7.2 million) in convertible bonds to POSCO Holdings Inc., parent of the world’s No. 7 steelmaker POSCO and EV battery materials producer POSCO Future M Co.
POSCO Holdings is set to secure a 3.81% stake in Neuromeka if the conglomerate converts the debt securities into the Kosdaq-listed company’s stocks.
Italian startup Movopack raises £2 million to launch circular e-commerce packaging in UK via Royal Mail
Movopack, a company providing e-commerce platforms with circular and sustainable packaging, has raised a £2 million seed funding round led by early-stage investor 360 Capital, with participation from Greiner Innoventures and Techstars. The cash will go towards the firm’s official launch in the UK - its first expansion outside of Italy.
The aim is to allow consumers to easily return packaging through the Royal Mail postal system, providing access to any of its 115,000 postboxes across the country.
Akhetonics gets fresh funding for a contrarian bet on all-optical chips
Photonics — a field that underpins light-based systems for manipulating data — has a bright future, as the rise of AI demands better computing performance, but it has yet to be fully applied to a new generation of chips. German startup Akhetonics hopes to change that. It has raised a €6 million seed funding round (approximately $6.33 million) to deliver on this promise, TechCrunch can exclusively reveal.
While several companies are working with photons on tangential issues or point solutions that mix electronics and photonics, Akhetonics — whose name is a portmanteau of Akhet, an Egyptian hieroglyph for “horizon,” and photonics — is outright aiming to build a general-purpose chip.
This will still take time, but maybe not as much as some may think; Akhetonics plans to deliver its first commercial product to customers mid-next year. Kissner is confident that it’s already confirmed feasibility thanks to its previous funding round by deep tech VC firm Runa Capital in 2023. “Our big goal was to show that you can do general purpose computing using only optics, and that is something that we have now shown,” he said.
Long-duration battery startup lands $5M on journey to one day power data centers and metro areas
Skip Technology raised $5 million to help the grid-scale battery startup begin deploying prototypes for field testing. The Portland, Ore., company is building long-duration batteries that use hydrogen bromine to produce power instead of the more common lithium-ion chemistry. Compared to conventional batteries, Skip Tech devices hold power for a longer time, are much less flammable, and require components that are easy to source domestically, according to the team.
The company’s smaller batteries will be able to power offline operations like a food truck, while a collection of about 10 shipping container-sized batteries could provide enough juice for a large data center, said co-founder and CEO Brennan Gantner. Tech giants such as Amazon and Microsoft are searching for data center energy storage solutions to provide clean power when wind and solar aren’t available.
The new investment round is being led by Puyallup Tribal Enterprises, which also invested in a previous round. Skip Tech and the Washington-based tribal organization are additionally partnering in production of the batteries. Puyallup Tribal Enterprises is building a manufacturing facility south of Seattle to make the devices.
The startup also recently announced a partnership with Continuous Solutions, a fellow Portland company that will provide the electronics needed to convert the DC energy produced by the battery into standard AC voltages comparable to the electricity delivered from wall outlets.
Advanced Recycling Technologies Announces Growth Investment from Ember Infrastructure
Advanced Recycling Technologies Holdings, LLC (“ART” or the “Company”), announced that it has received a growth investment from funds managed by Ember Infrastructure (“Ember”) to scale its metals recovery and recycling platform.
ART designs, installs, owns, and operates distributed systems that are co-located with waste stream assets to recover and monetize incremental, high-value metals. The Company’s systems provide upstream asset owners with the dual benefit of reduced waste volumes and the recovery of incremental recycled metals for additional revenues, all while enhancing their sustainability profile through increased recycling of recovered metal materials for lower carbon metals refining and production as compared with the use of virgin mined materials.
ART’s systems are deployed onsite at upstream infrastructure assets including waste-to-energy (“WTE”) power plants, auto shredder residue (“ASR”) operations, other metal recycling operations, and ASR or WTE ash landfills. While these upstream sites may already have some metals recovery systems, ART’s systems can extract significant quantities of additional, smaller metal units from waste materials. Recycling recovered metals is an eco-efficient way of reintroducing valuable materials back into the economy. Compared to the primary production of virgin mined materials, the recovered recycled materials process uses up to 90 percent less energy and results in a significant reduction in annual CO2 emissions. The Company owns three operating metals recovery assets, comprised of an ASR tailings recovery project located at a metal recycling site in the Mid-Atlantic region; a WTE ash recovery project in Kent County, Michigan, in partnership with Kent County, through its Department of Public Works; and a metal recycling operation located in Westport, Massachusetts (“Mid-City Scrap”), which ART acquired in connection with Ember’s investment.
Molyon powers up with $4.6M funding to develop next-gen Lithium-sulfur batteries for robots and drones
Molyon, which develops next-generation batteries with double the energy density of current lithium-ion batteries, has landed $4.6 million in first funding. The round was co-led by IQ Capital and Plural, which recently invested in VSParticle and The Exploration Company. The funding will enable Molyon to expand the team and begin manufacturing at its pilot facility. This will enable the company to develop Li-S batteries for drones and robots, which will benefit from the lighter weight and improved range that Molyon’s batteries will provide.
Molyon has emerged from 15 years of material science research in the Chhowalla Group at the University of Cambridge. It was founded by Dr. Ismail Sami and Dr. Zhuangnan Li, who met whilst studying under co-founder Professor Manish Chhowalla. Dr. Sai Shivareddy (co-founder and CEO of battery technology startup Nyobolt) also joined the founders to discover and develop this high-performance cathode technology. Molyon’s technology is based on metallic molybdenum disulfide (MoS2), which allows sulfur to remain stable and provide high energy density over hundreds of cycles. It revolutionises the Li-S battery field.
HyperHeat raises €3.5M to decarbonise the world’s most energy-intensive industries
Offenburg-based HyperHeat, a German startup focused on creating zero-carbon industrial heat using renewable energy, has raised €3.5M in funding. The company will use the funds to develop and test its first industrial products, which are set to launch by 2025. The investment was led by Amadeus APEX Technology Fund, with support from Finindus, Possible Ventures, E44 Ventures, Breakthrough Energy Fellows, and several business angels.
Heavy industries such as steel, cement, and chemicals account for over 25 per cent of global CO2 emissions, largely due to the high temperatures required in their production processes. These sectors face significant challenges in reducing emissions. To address these challenges, HyperHeat is developing a technology for emission-free, high-temperature heating to help decarbonise these industries. “The cutting-edge technology of HyperHeat allows decarbonising the demand for heat at well over 1000 °C, even up to 2000 °C. This electric heater technology offers a unique value proposition in terms of cost and durability, ideally suited for heavy industries.”
Echion Technologies lands £10M: How this startup brought sustainable fast-charging tech to life from labs
UK-based Echion Technologies, which develops niobium-based, fast-charging battery materials, has landed £10 million in funding. The investment came from Barclays Sustainable Impact Capital, which backed Sustainable Ventures, and existing investor BGF, which recently backed Twenty7tec and ForeFront RF.
This round follows the $35 million investment it secured a few months back. This funding will enable Echion to accelerate the speed at which its network of partnered cell manufacturers can produce commercially available cells that utilise its innovative niobium-based XNO® anode material. It will also support Echion’s growth in key markets by providing additional resources to connect cell manufacturers with industrial original equipment manufacturers (OEMs). This will see XNO® utilised in more real-world applications, at volume, soon.
Echion’s XNO® anode material enables lithium-ion (Li-ion) batteries to fast charge in under 10 minutes while maintaining high energy density and delivering over 10,000 charge cycles. XNO® is based on proprietary mixed niobium oxide compositions and microparticle designs protected by 13 international patent families. It delivers lithium-ion battery performance highly suited for industrial, commercial, and high-value applications that demand the highest up-time, lowest total cost of ownership, and highest safety.
Four Growers raises $9M to keep picking tomatoes, cucumbers with robots
The most recent Series A, led by Bassett Capital, builds on a previous raise of $6 million from Y Combinator and other venture funds. Since the company spun out of the University of Pittsburgh in 2018, it’s been a slog of slow, low-cost development, Mr. Contino said. “Now that we’ve got it working, and it’s really been proven, it’s now ramping up the production.”
Four Growers’ main robot, GR-100, harvests produce in greenhouses, which makes it easier to test and iterate, and also means that the bot can operate almost continuously. There are still hurdles though. “Making it cost effective for not only our customers but the consumers is an incredibly difficult challenge,” Mr. Contino said.
Liquid Wind raises €44 million in Series C financing with Uniper, HYCAP and Samsung Ventures to meet increasing demand for low-carbon fuels
Liquid Wind, the leading Swedish eFuel facility developer has raised €44 million in Series C financing led by Uniper, HYCAP Fund I SCSp (“HYCAP”) and Samsung Ventures. The financing will support the development of 10 eFuel facilities by 2027 as part of the company’s vision of reaching 500 facilities globally by 2050. The raise represents one of the largest European funding rounds in the eFuel sector this year.
METRON secures €12.5M for industrial energy management
METRON, a management provider for energy consumption and reduced carbon emissions, has raised €12.5M. Led by the German GET Fund, a highly reputed venture capital investor in the energy sector, alongside long-standing investors (BNP Paribas, Climate Investment and Vertigo) who have renewed their confidence in the French cleantech company. The investment of the GET Funds coincides with METRON’s market entry in Germany.
Ubitium Debuts First Universal RISC-V Processor to Enable AI at No Additional Cost, as It Raises $3.7M
For over half a century, general-purpose processors have been built on the Tomasulo algorithm, developed by IBM engineer Robert Tomasulo in 1967. It’s a $500B industry built on specialised CPU, GPU and other chips for different computing tasks. Hardware startup Ubitium has shattered this paradigm with a breakthrough universal processor that handles all computing workloads on a single, efficient chip - unlocking simpler, smarter, and more cost-effective devices across industries - while revolutionizing a 57-year-old industry standard.
Alongside this, Ubitium is announcing a $3.7 million in seed funding round, co-led by Runa Capital, Inflection, and KBC Focus Fund. The investment will be used to develop the first prototypes and prepare initial development kits for customers, with the first chips planned for 2026.
Echion raises a further £10 million to accelerate commercial growth
Echion has secured £10 million investment from Barclays Sustainable Impact Capital and existing investor BGF. This funding will enable Echion to accelerate the speed at which its network of partnered cell manufacturers is able to produce commercially available cells which utilise Echion’s innovative niobium-based XNO® anode material. It will also support Echion’s growth in key markets by providing additional resources to connect cell manufacturers with industrial original equipment manufacturers (OEMs). This will see XNO® utilised in more real-world applications, at volume, in the near future.
Echion’s XNO® niobium-based anode material enables lithium-ion (Li-ion) batteries to safely fast charge in less than ten minutes, maintain high energy densities even at extreme temperatures, and deliver high power across a cycle life of more than 10,000 cycles. XNO® has been specifically engineered to allow electrified heavy-duty industrial, commercial and mass-transport vehicles to operate with the highest productivity and lowest total cost of ownership.
XNO® is available at scale thanks to Echion’s manufacturing partnership with the world’s leading producer of niobium, CBMM. In November, Echion opened the world’s largest niobium-based anode production facility, capable of producing 2000 t/year of XNO®, equivalent to 1 GWh of Li-ion cells. This will enable Echion to meet the significant demand for XNO® across its global customer base of cell manufacturers and OEMs.
Iontra Closes $45 Million Series C to Deliver Launch of the Industry's First Integrated RISC-V Charge Control and Fuel Gauge Microcontroller
Iontra Inc, a Colorado-based leader in next-generation battery charging technology, announced that it has successfully completed its $45M Series C funding round with support from both current and new investors. The company has raised $120.3 Million to date. Combined with the recent DOE award of the $2.15 million ARPA-E circular grant, this solidifies Iontra’s leadership position in battery charging technology. Iontra’s funding round was led by repeat prominent energy sector investor Volta Energy Technologies, with additional support from others.
This funding will advance Iontra’s leadership position as a fabless supplier of low-cost, small-footprint battery charger microcontrollers (MCUs). With embedded Iontra charge technology, Iontra’s MCU will maximize battery performance and efficiency across a wide range of consumer and industrial products, including power tools, smartphones, and wearables.
Iontra’s MCU also includes industry standard cyber security capabilities, and advanced high-speed peripherals, allowing OEMs to unlock options for further system integration, reducing electronic Bill-of-Material (e-BOM) costs and carbon footprint.
Through Iontra’s state-of-the-art design centers and semiconductor supply chain partners, Iontra is committed to delivering a robust and reliable solution for its customers with initial samples of its custom MCU expected by mid-2025 and release to production in 2026.
Pivot Energy Secures Over $450 Million in Major Financing of Distributed Generation Portfolios from First Citizens, ATLAS SP, and HASI
Pivot Energy, a leading, national renewable energy provider and independent power producer, announced two transformational financing arrangements, marking a critical step toward establishing innovative and scalable financing facilities. Pivot has successfully secured a $450 million debt warehouse facility, led by long-time partner, First Citizens Bank, which includes new strategic partner ATLAS SP Partners (“ATLAS”), the warehouse finance and securitized products business majority owned by Apollo funds.
In addition, Pivot closed on a structured equity investment from HA Sustainable Infrastructure Capital, Inc. (“HASI”) in a new project joint venture (JV). Together, these innovative financing structures will support the construction of 300 Megawatts DC (MWdc) of distributed generation projects that Pivot is developing across the U.S. The portfolio consists of 96 projects, the majority of which are community solar with the remaining being single off-take Power Purchase Agreements for commercial clients. The projects are expected to be operational within the next two years, located across nine states: California, Colorado, Delaware, Hawaii, Illinois, Maryland, Minnesota, New York, and Virginia.
Ferment Launches $20M Studio Fund to Accelerate Biotech Solutions Across Vital Industries
Ferment, a venture studio that creates bio-enabled product companies, has launched a new $20 million studio fund to rapidly translate biology into products that solve targeted problems across sectors including energy, agriculture, materials, and health. The new fund’s first creation and $2.5 million investment is Alchemyca, a company that uses enzymes, sensors, and AI to dramatically improve how we convert organic waste into renewable natural gas. It joins existing Ferment companies that have all launched revenue-generating products within their first three years, and have attracted corporate partners like Vale, Suncor, Chanel, and Nutreco.
Faircraft Raises $15.8 Million to Accelerate the Development of Lab-Grown High-Quality Leather Goods
Faircraft, a pioneer of lab-grown leather using unique and patented tissue engineering techniques, has announced a $15.8 million fundraising round. The round was backed by internationally-renowned investment funds, including Kindred Ventures (USA), Cap Horn (France), BPI (France), Sake Bosch (Netherlands), Entrepreneur First (UK), Alliance for Impact (France), and Heirloom (USA). This funding will enable Faircraft to expand its team, notably by recruiting more engineers and biologists, and accelerate its efforts to scale operations and meet growing demand.
Faircraft is developing lab-grown leather that leverages cellular biology to create materials for a wide range of uses with a low environmental impact. The start-up develops lab-grown material derived from animal skin cells that replicates the structure and composition of traditional leather through cellular agriculture processes. Inspired by the medical and cosmetics industries, this material is genuine leather, made in a lab. Embracing traditional leather goods craftsmanship, Faircraft also relies on master tanners specializing in luxury leather goods to perfect the finishing of this sustainable leather.
Epic Cleantec Secures $12M in Series B Funding to Expand Innovative Water Reuse Solutions for Commercial Real Estate
Epic Cleantec (“Epic”), a leading innovator in water reuse technology for the built environment, announced the close of its $12 million Series B funding round. This investment will accelerate the expansion of Epic’s pioneering water reuse and resource recovery solutions across a growing portfolio of projects, positioning Epic as one of the fastest-growing providers of water reuse systems for commercial and residential real estate globally.
The Series B round was led by the family office of Drs. Kathy Fields and Garry Rayant, noted entrepreneurs, impact investors, and philanthropists known for their commitment to sustainability, healthcare, and technology. “We are thrilled to partner with the Epic team as they pioneer groundbreaking solutions to urban water challenges,” said Drs. Fields and Rayant. “Their innovative approach not only addresses immediate water scarcity issues but also lays the foundation for resilient, sustainable cities, aligning perfectly with our commitment to big, impactful, world-changing ideas.” They are joined by existing investors J-Ventures, Echo River Capital, and other prominent family offices with deep real estate ties. Epic will use the funding to scale operations, advance product development, and drive further adoption of water reuse systems across the U.S. and around the world.
Silfab Solar Raises $100 Million to Scale Its Cell Manufacturing Facility in Fort Mill, S.C.
Silfab Solar Inc. (“Silfab”), North America’s leading photo-voltaic (“PV”) module manufacturer, announced that it has closed on $100 million of new financing to scale its state-of-the-art solar cell manufacturing plant. The $50 million equity investment was led by funds advised by ARC Financial Corp. (“ARC”) and includes investment from their existing co-investors. The company additionally raised a $50 million senior secured financing (the “Green Loan”) led by Breakwall Capital, an energy-focused asset manager and employee-owned firm committed to supporting the growth and improvement of conventional, renewable, and next generation energy companies, and includes an investment from SR Alternative Credit LLC (“SRAC”).
The Green Loan and equity financing will advance the overall capacity of Silfab’s cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, and to reshore US-made solar products that are in high demand by the company’s customers. Silfab’s newest US facility is scheduled to be operational by the end of this year.
‘Flying ferry’ startup Candela raises $14m extension and enters US market
Swedish hydrofoil ferry Candela has raised a $14m extension to its Series C, following a €24.5m raise in March. The investment was led by Swedish bank SEB’s Private Equity section, with the participation of existing investors EQT Ventures and KanDela AB. The new capital will be used to “aggressively target the rapidly expanding global market for electric waterborne transport,” which is projected to reach $15.3bn by 2032.
The funding news comes a month after Candela’s 30-passenger vessels started being used for public transport in Stockholm and the signing in August of Candela’s largest order to date — eight vessels for Saudi Arabia’s Neom project. It has also signed contracts for its vessels to serve commuters in Berlin and New Zealand this year.
Teleo Raises $16.2 Million in Series A Extension Funds Led by UP.Partners
Teleo, a company building autonomous technology for heavy equipment, announced it has raised $16.2 million in Series A extension funds in addition to the company’s previously announced Series A funding round. The company will primarily use the funds to scale customer deployments and continue its expansion in new industries that use heavy machinery, such as wheel loaders, terminal tractors, excavators, and more. Teleo will also use the funds to enhance its AI capabilities, including advancing autonomous features; integrating large language models (LLMs) to further unlock operator efficiency; and collecting real-world data to continue training AI models. Teleo’s first extension round, totaling $9.2 million, was led by UP.Partners, with participation from other investors, including new investor Trousdale Ventures and return investor F-Prime Capital, among others. The second extension, totaling $7 million, was also led by UP.Partners, with participation from new investor Triatomic Capital, as well as returning investors F-Prime Capital and Trucks Venture Capital, among others. Since inception in 2019, Teleo has raised $29.8 million.
Teleo converts any make, model, and vintage of heavy equipment, such as bulldozers, wheel loaders, and excavators, into autonomous and remote-operated robots. The combination of remote and autonomous operations, called Supervised Autonomy, allows one operator to supervise multiple autonomous machines working simultaneously by enabling the operator to remotely perform complex tasks as needed. The operator sits at a central command center that can be stationed locally or thousands of miles away. There are many industries that use heavy machines to perform repeatable and predictable tasks where Teleo’s technology can help, especially amid historic labor shortages. For example, the Associated General Contractors of America estimates that 91% of construction firms are having a hard time finding workers to hire, driving up costs and project delays.
Aira Technologies Raises $14.5 Million Series B From AT&T Ventures, Intel Capital and In-Q-Tel (IQT) to Accelerate RAN Automation Using GenAI
Aira Technologies, a leader in applying AI to cellular network infrastructure, has raised $14.5 million in Series B to expand and accelerate its AI/ML-based solutions to drive improvements in operating, energy, and spectral efficiency. With the new funding, Aira will accelerate the advancement of its GenAI product roadmap. Aira’s Series B investment round was a strategic investment round, and the company is thrilled to have AT&T Ventures, Intel Capital, IQT, Juniper, and JTM LLC joined by existing investors NeoTribe and Acrew.
Mobile Network Operators (MNOs) are experiencing exponential data traffic growth and are under pressure to improve profitability by pushing down the Total Cost of Ownership while generating new streams of revenue. Aira’s vision is to use a data-driven, ML-powered approach to radically re-imagine wireless design, deployment, and control to improve efficiency and performance. Aira’s innovations allow MNOs to vastly improve their radio access network (RAN) architecture and performance. This new round of funding will support Aira’s visionary approach to enabling the RAN of the future—a fully autonomous, self-learning RAN.
Most recently, Aira launched Naavik, a GenAI platform that revolutionizes network operations via advanced automation and natural language processing. Enabling intuitive, conversational interactions with network data and reducing task times from months to days, Naavik enhances visibility, control and automation across the RAN to empower fully autonomous networks.
Tekever raises $74M for dual-use drone platform deployed to Ukraine
Dual-use drone startup Tekever has raised €70 million ($74 million) to develop its product and expand into new markets, specifically the U.S. The news is part of a trend of smaller tech-driven startups moving into markets normally dominated by large “defense primes.”
Tekever’s funding round was led by Scottish investment company Baillie Gifford & Co. (which has previously backed SpaceX) and the NATO Innovation Fund, the €1 billion defense and dual-use VC fund announced in 2023. The fund is connected to NATO and focused on backing startups that build tech for categories like defense, security, and resilience.
OceanWell Secures $11 Million in Series A to Build Deep-Sea Water Farms and Supply Abundant Fresh Water
OceanWell, a water technology company, announced $11 million in Series A funding to scale its next-generation modular deep-sea water farm solution and launch California’s water farm pilot with Las Virgenes Municipal Water District (LVMWD). Kubota Corporation, a century-old leader in water infrastructure manufacturing, the family office of Jon Hemingway of Carrix Ports, and Charles McGarraugh, former head of metals trading at Goldman Sachs, participated in the round.
OceanWell is developing modular deep-sea water farms made up of pods that harness natural hydrostatic pressure at depths of 400 meters for reverse osmosis desalination. Each pod can produce up to one million gallons of fresh water daily, and the modular design allows for scalable projects based on demand. This technology ensures ultra-clean water by filtering out salts, bacteria, viruses, pesticides, and PFAS, while its robust components are engineered for durability in harsh deep-sea environments. Unlike traditional desalination methods that are energy-intensive and threaten marine life, OceanWell’s technology reduces energy consumption by up to 40 percent, while protecting marine life and eliminating toxic brine disposal.
Pickle Robot Closes $50 Million Series B Funding and Secures New Orders for 30+ Unload Robots
Pickle Robot Company, a pioneer in Physical AI delivering robotic automation systems that unload trucks, announced it has raised $50 million in series B funding with participation from a strategic customer, Teradyne Robotics Ventures, Toyota Ventures, Ranpak, Third Kind Venture Capital, One Madison Group, Hyperplane, Catapult Ventures, and others.
Additionally, in Q3 2024 six customers placed orders for over 30 production robots to deploy in the first half of 2025. The new orders include pilot conversions, existing customer expansions, and new customer adoption. The funding will be used to accelerate the development of new feature sets and build out the company’s commercial teams to unlock new markets and geographies for global robotic truck unloading customers.
Pickle Robot is laser-focused on applying its Physical AI technology to one of the most labor-intensive, physically demanding, and highest turnover work areas in logistics operations: truck unloading. Pickle’s Physical AI combines a powerful vision system with generative AI foundation models trained on millions of data points from real logistics and warehouse operations that enable Pickle’s robotic hardware platform to perform physical work at human-scale or better.
EarthOptics Secures $24 Million in Financing to Drive Expansion and Revolutionize Soil Digitization
EarthOptics, the industry leader in soil digitization and Predictive Agronomy, has announced the successful completion of $24 million in financing. This capital raise includes new partners Cibus Capital, RuralWorks Partners and Norinchukin Bank and is led by current investors Conti Ventures and The Production Board, with notable participation from Leaps by Bayer, S2G Ventures, Middleland Capital’s VTC Ventures, Cooperative Ventures, iSelect Fund, Serra Ventures, TO VC, Route 66 Ventures, Shell Ventures, Pappas Capital, CNH Ventures, and Rabo Ventures.
This investment underscores EarthOptics’ unwavering commitment to advancing soil intelligence and enabling farmers, ranchers, and their advisors to make data-driven decisions that maximize profitability and sustainability. The funds will be deployed to accelerate technological innovation, broaden the company’s geographic reach, and solidify its position as the authoritative source for soil insights.
The strategic merger between EarthOptics and Pattern Ag has created a powerhouse in the soil intelligence space. EarthOptics’ proprietary field-based sensing technologies are combined with Pattern Ag’s cutting-edge lab-based analysis. The newly formed entity is poised to redefine predictive agronomy by offering the market’s most comprehensive and precise soil data.
Distyl Secures $20M from Lightspeed and Khosla Ventures to Deliver Biggest, Most Impactful Enterprise AI Outcomes
Distyl has raised $20 million in Series A funding to supercharge its growth and to meet the accelerating demand from its Fortune 100 customers. This round adds Lightspeed Venture Partners, who led the round, and Khosla Ventures, early investors in OpenAI. Existing investors Coatue, Dell Technologies Capital and Nat Friedman also joined, along with strategic and angel investors. This funding will accelerate Distyl’s efforts to build the best-in-class AI engineering and research team to meet increasing customer demand.
Distyl unites AI-native software with a premier engineering and research team that customizes AI building blocks for rapid implementation and results at enterprise scale. The company is trusted to deliver transformative outcomes by Fortune 100 leaders across healthcare, telecommunications, CPG, retail and manufacturing industries. For example, one Fortune 500 company estimated a 47% increase in resolution time around daily tasks after partnering with Distyl to deploy AI in their supply chain.
Keychain Hits Over $500 Million Per Month in Project Volume, Secures $15 Million in Additional Funding, and Adds General Mills and Schreiber Foods as Investors
Keychain, a manufacturing platform for the packaged goods industry, announced that it has raised $15 million in new funding. The round was led by BoxGroup, with support from major food companies General Mills and Schreiber, and existing investors including Lightspeed Venture Partners, and SV Angel. Looking toward 2025, Keychain will continue building its depth in the United States food and beverage manufacturing ecosystem. Keychain is ultimately building the platform for all CPG manufacturing globally.
One year after announcing $18 million in seed funding, Keychain has already enabled over 20,000 brands and retailers to search for manufacturers using Keychain’s AI-powered platform. This brings Keychain’s total funding to $33 million. Prior to Keychain, the search and discovery process was time-intensive and convoluted, preventing brands, retailers, and manufacturers from reaching their full potential.
Emerson Ventures Invests in EECOMOBILITY
Emerson (NYSE: EMR) announced it has made a strategic investment through its corporate venture capital arm Emerson Ventures in EECOMOBILITY, a startup that specializes in advanced battery testing and monitoring software for electric vehicle, energy storage and industrial markets. Emerson Ventures will co-invest with Automotive Ventures, RISC Capital and a North American OEM (original equipment manufacturer).
EECOMOBILITY builds AI software, rapid battery testing and characterization systems designed to identify defects that may lead to fires or performance issues. Combining advanced characterization techniques and AI, EECOMOBILITY’s solutions portfolio can be applied at the cell, module or full battery pack level, making the company a key asset in the automotive sector.
Revv Secures $20M to Transform Auto Repair with AI Technology
As the complexity of modern vehicles escalates, the auto repair industry faces a critical challenge: adapting to the sophisticated needs of Advanced Driver Assistance Systems (ADAS), which are now standard in 92% of new vehicles. Addressing this head-on, Revv is thrilled to announce it has secured over $20 million in funding. The round, led by Left Lane Capital, with continued participation from Soma Capital, 1984, and Agalé Ventures, underscores the industry’s confidence in Revv’s potential to transform auto repair services.
Revv was born in an auto repair shop, where founder Adi Bathla, an early Product Leader at Misfits Market, observed the difficulties technicians faced with increasingly software-dependent vehicles. Together with Rashmi Sinha, an engineer with a shared passion for modernizing offline industries, they developed a platform that not only tackled the technical demands, but also captured the invaluable, intricate OEM data sitting in the brains of the most experienced technicians. This foundation enabled their initial product to rapidly gain traction, servicing over 30 auto repair shops prior to taking on any funding.
Revv’s platform leverages advanced large language models to condense hours of diagnostic research into seconds, aggregating data from over 60 sources to provide clear, actionable repair packages for complex ADAS systems like automatic braking, adaptive cruise control, and lane departure warnings. The hardware-agnostic system integrates seamlessly with all shop equipment and the full estimation software suite, ensuring immediate access to essential diagnostic information for all team members. Additionally, the embedded feedback loop from technicians enables continuous self-learning and improvement.
Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies
Tokamak Energy has raised $125 million to accelerate ambitious plans to commercialize fusion energy and grow its transformative high temperature superconducting (HTS) technology solution, TE Magnetics. The round was co-led by East X Ventures and Lingotto Investment Management with participation from new investors including Furukawa Electric Company, British Patient Capital, global maritime company BW Group and U.S.-based Sabanci Climate Ventures.
The investment from new strategic partners alongside existing shareholders is recognition of the world-class talent and expertise at Tokamak Energy, the only private fusion company with more than 10 years’ experience designing, building and operating tokamaks.
It brings the total raised since forming as a spin-out from UK Atomic Energy Authority in 2009 to $335m, comprising $275m from private investors and $60m funded from the UK and U.S. governments.
The investment round will support the rapid growth of TE Magnetics to address demand from the fusion energy market and open new fields of performance in other industries including science, mobility, renewable energy and security.
Lightsynq Comes Out of Stealth with $18M in Series A Funding to Scale Quantum Computing
Lightsynq Technologies Inc., a startup developing quantum interconnect technology solutions for commercial use, announced it has raised approximately $18 million in Series A funding. The round was led by Cerberus Ventures, the venture investing platform of Cerberus Capital Management, L.P. (Cerberus), with participation from Murata Electronics North America Inc., IAG Capital Partners, Safar Partners, QVT, Element Six and In-Q-Tel (IQT).
Founded by former Harvard quantum networking experts and Amazon Web Services (AWS) Center for Quantum Networking leaders, Dr. Mihir Bhaskar (CEO), Dr. Bart Machielse (CTO) and Dr. David Levonian (CPO), Lightsynq is developing state-of-the-art optical quantum interconnects that enable hardware providers to link quantum processors. Lightsynq’s technology will help solve the core challenge of linking together individual quantum computers into a broader network, overcoming the limitations of single system scaling.
The funds will be used to build Lightsynq’s quantum interconnect technology, which is based on color centers in diamond photonic devices, combining a leading quantum networking platform with scalable photonic fabrication. This proprietary solution will provide a pathway to foundry-scale production of quantum interconnects, enabling more usable qubits across networks and accelerating wider industrial and commercial applications of quantum computing.
Ample Secures $25 Million Investment from Mitsubishi Corporation to Drive Expansion of Battery Swapping Technology
Ample, a leading provider of battery swapping technology for electric vehicles, announced a $25 million investment from Mitsubishi Corporation. This strategic collaboration goes beyond just a financial investment, where Mitsubishi Corporation will support Ample’s ongoing efforts to expand its battery-swapping business. Mitsubishi Corporation will collaborate closely with Ample, leveraging their expertise in mobility, renewable energy, energy storage, and battery reuse and recycling to help accelerate the deployment of sustainable energy solutions.
Since its last funding round, Ample has made significant progress in expanding its battery-swapping infrastructure. The company has kicked off operations in Japan, signing key partnerships to accelerate the deployment of swapping services. Additionally, Ample has formed partnerships with major OEMs such as Stellantis and Mitsubishi Fuso Truck and Bus Corporation, part of Daimler Truck, to integrate its battery-swapping technology with a wide range of EV models, ensuring versatility and accessibility.
Prism Worldwide Raises $40 Million in Series A and A1 Funding Co-Led by Columbia Pacific Advisors and former Costco CEO Jim Sinegal
Prism Worldwide, a leader in innovative material solutions that is dedicated to advancing end-of-life tire recycling technology, announced it has raised $40 million in Series A and Series A1 funds. Prism is using the funds to consolidate operations, make capital investments in technology and equipment, and expand its team. To date, the funding has provided a foundation from which Prism has reached commercial viability, demonstrated by an initial round of sales and sales commitments for its thermoelastic polymers (TPEs). The development of these TPEs marks the first time any company has successfully created a sustainable, high-performance polymer derived from end-of-life tires. The funding rounds were co-led by return investors Columbia Pacific Advisors, a Seattle alternative investment firm, and Jim Sinegal, co-founder and former CEO of Costco. The combination Series A and Series A1 funding round also includes participation from Robert “Spike” Anderson, former CEO of Anderson Daymon Worldwide. Anderson is Chairman of Prism Worldwide’s board of directors.
The first deployment of Series A capital was for the acquisition of CRC Polymer Systems, a custom compounding company that supplies compounds, resins, and colors to the plastics industry. The acquisition enabled Prism to increase its capacity for product development, manufacturing and distribution throughout the United States and North America.
Prism breathes new life into end-of-life rubber tires, which traditionally have limited high-value uses. Tires are often burned or ground into final-stage materials used on playground surfaces or sporting fields. With its environmentally friendly technology, Prism reverses the polymerization of the end-of-life tire rubber in a novel, energy-efficient, and low capital-intensive manner that allows the end material to be functional and flexible in a wide range of elastomer and plastic applications. Notably, Prism makes it possible to integrate a higher concentration of recycled materials to be used in both rubber-based and plastic-based products without conceding product quality. Its technology can help companies scale revenues and profitability while helping them achieve sustainability goals by reducing carbon emissions and reliance on virgin petrochemical-based materials.
ARRAY Announces $3 Million Investment in Swap Robotics to Drive Automation in PV Installation
ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a global leader in solar tracker technology, is proud to announce its strategic $3 million investment in Swap Robotics, a pioneer in utility-scale solar robotic operations, maintenance, and automation solutions. This investment aligns with ARRAY’s ongoing commitment to innovation, sustainability, and its goal of future-proofing the business through new growth opportunities.
Swap Robotics is currently in the process of closing a pre–Series A funding round targeting strategic investors, including ARRAY. With this investment, ARRAY positions itself at the forefront of the rapidly developing automation sector within the utility-scale solar industry, particularly focused on photovoltaic (PV) installation technology. Under the investment agreement, ARRAY has agreed to provide two additional investments of $1 million each if Swap attains certain agreed-upon milestones.
The integration of Swap Robotics’ cutting-edge technology with ARRAY’s existing products opens new possibilities for enhanced project cycle time efficiency and field installation savings. Automated module installation, powered by Swap Robotics, offers the potential for significant savings that would strongly benefit developers and engineering, procurement, and construction (EPC) companies looking to streamline project costs. In addition, Swap Robotics’ innovations promise to enhance the value of other disruptive technologies.
ANELLO Photonics Secures Series B Funding to Propel the Future of Inertial Navigation for Autonomous Applications
ANELLO Photonics, the creator of the Silicon Photonic Optical Gyroscope (SiPhOG™), announced the successful closure of its Series B funding round reflecting robust investor confidence in the company’s groundbreaking approach to inertial navigation in GPS-denied environments. The investment was co-led by Lockheed Martin, Catapult Ventures and One Madison Group. Additional investors included New Legacy, Build Collective, Trousdale Ventures, In-Q-Tel (IQT), K2 Access Fund, Purdue Strategic Ventures, Santuri Ventures, Handshake Ventures, Irongate Capital and Mana Ventures. This funding round will accelerate ANELLO’s mission to revolutionize navigation and positioning in GPS-denied environments across both Industrial and Defense applications.
The participation of new investors highlights the significant interest in ANELLO’s groundbreaking SiPhOG technology which brings high precision optical fiber gyro performance onto an integrated silicon photonics platform. ANELLO’s solutions are perfectly designed to meet the rigorous demands of navigation, positioning, and motion tracking for autonomous applications in challenging GPS-jammed and spoofed environments.
Ecore Secures Strategic Investment from General Atlantic’s BeyondNetZero Fund to Accelerate Circularity and Net-Zero Initiatives
Ecore International, a global leader in circularity, transforming reclaimed rubber materials into innovative, high-performance products that drive sustainability and reduce environmental impact, announced it has received a minority growth investment from General Atlantic, a leading global growth investor, through the firm’s BeyondNetZero climate growth fund. Ecore will leverage this capital and strategic partnership to support continued organic and inorganic growth initiatives, strengthen core operational and technology infrastructure, and accelerate the execution of its industry-leading circularity and net-zero strategies.
For more than 150 years, Ecore has built a pioneering circular business model that transforms used tires into rubber surfacing and flooring applications. Through its hallmark TRUcircularity program, Ecore then reclaims its own products and re-purposes them back into surfacing applications, creating a continuous cycle of rubber usage, thereby preventing rubber waste from entering landfills.
A leader in rubber circularity, Ecore reclaims more than 430 million pounds of waste rubber, avoids 9.5 million pounds of CO2 emissions annually and operates UL-certified zero waste plants. Ecore boasts more than 1,500 different products in its portfolio, including high-performance flooring with Floorscore certifications and EPDs, IPEMA-certified pour-in-place playgrounds, and athletic tracks and fields. Ecore was recently honored as a finalist in the U.S. Chamber of Commerce Foundation’s 2024 Citizens Awards for The Best Sustainability Program, recognizing its long-standing commitment to sustainability and its pursuit of a planet free from rubber waste.
Juna.ai wants to use AI agents to make factories more energy-efficient
At its core, Juna.ai wants to help manufacturing facilities transform into smarter, self-learning systems that can deliver better margins and, ultimately, a lower carbon footprint. The company focuses on “heavy industries” — industries such as steel, cement, paper, chemicals, wood and textile with large-scale production processes that consume lots of raw materials.
The Berlin-based startup said that it has raised $7.5 million in a seed round from Silicon Valley venture capital firm Kleiner Perkins, Sweden-based Norrsken VC, and Kleiner Perkins’ chairman John Doerr.
Juna.ai’s software integrates with manufacturers’ production tools, like industrial software from Aveva or SAP, and looks at all its historical data garnered from machine sensors. This might involve temperate, pressure, velocity, and all the measurements of the given output, such as quality, thickness, and color.
Plantible Foods Closes $30 Million Series B to Meet Growing Demand for Rubi Protein™
Plantible Foods, a technology company unlocking the power of plants to promote the health and longevity of people and the planet, announced the closing of a $30 million Series B funding round. The round was co-led by Piva Capital and Siddhi Capital, with participation from new investors Betagro Ventures, Cultivate Next (the venture arm of Chipotle Mexican Grill), Nourish Ventures (the venture arm of Griffith Foods), and existing investor Astanor Ventures.
Since its founding, the company has seen insatiable demand for its products driven by global agri-food supply chain issues and the need for a cleaner, healthier, and allergen-friendly food system currently polluted by unhealthy and unsustainable ingredients. Plantible’s Rubi Protein outperforms the functional and nutritional properties of traditional proteins (both animal and plant) enabling food companies to innovate while optimizing costs and delivering products with improved taste, texture, health and environmental footprint.
Naturbeads raises £7.8M to combat microplastic pollution
Naturbeads, a Bath, UK-based startup commercialising sustainable and biodegradable cellulose ingredients, raised £7.8 million in Series A funding. St. Andrews-based Eos Advisory led the round alongside existing investor Progress Tech Transfer, and new investors CDP Venture Capital, which invested in Foreverland, through its Corporate Partners I Fund, PI-NB, and Paragon Capital Management in Singapore through its early-stage VC fund, Paragon Ventures I.
The funding will enable the company to significantly increase its production capacity to meet the growing demand for sustainable ingredients from multiple industries. The company is set to build its first production plant in Puglia, Italy.
GiantLeap Capital Invests in Firefly Aerospace in an Oversubscribed $175 Million Series D Capital Raise Round
GiantLeap Capital, a U.S-based alternative investment firm that partners with companies developing technologies for critical industries, announced an investment in Firefly Aerospace, the leader in end-to-end responsive space services.
The $175M Series D round was oversubscribed at a valuation of more than $2 billion. The Series D round was led by new investor, RPM Ventures, a venture capital firm that has been investing in revolutionary, category-defining companies for more than two decades and existing investor, AE Industrial Partners, a private investment firm with over $6bn in AUM focused on highly specialized markets including national security, aerospace and industrial services.
Firefly Aerospace is an end-to-end space transportation company with launch, lunar, and on-orbit services. Firefly’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles provide the space industry with a single source for missions from low Earth orbit to the surface of the Moon and beyond.
Elicit Plant Announces €45 Million Investment Round to Accelerate Global Expansion
Elicit Plant, a pioneering agri-biotech company specializing in biosolutions for broadacre crops, has raised €45 million to accelerate its global expansion as farmers face mounting climate challenges. This investment round was led by Carbyne with participation from existing investors Sofinnova Partners, ECBF, and BPI. Primary net proceeds to the company will enhance commercialization of existing products and support further development of new solutions, aimed at providing farmers worldwide with effective products to combat the climate uncertainties affecting their yields and ability to feed populations.
The oversubscribed investment round was led by Carbyne Equity Partners, a private equity firm that invests in growing European businesses with strong market positions and a focus on R&D in its key sectors: agricultural technology, healthcare, and nutrition. Moreover, the existing investors Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and Bpifrance Investissement reaffirmed their commitment.
Orderful Raises $15M Growth Round Led by NewRoad Capital Partners to Transform B2B Integration with Modern EDI Solutions
Orderful, a pioneering company revolutionizing business-to-business (B2B) integration with its industry-leading Electronic Data Interchange (EDI) platform, announced that it has raised $15 million in a growth round led by NewRoad Capital Partners. The round also saw participation from new investors 9Yards, Flume Ventures, and NFI Ventures, alongside existing investors Andreessen Horowitz and GLP Partners.
Orderful is changing the status quo in the B2B integration space by offering a fast, modern EDI software-as-a-service platform that drastically simplifies the way businesses connect and exchange data. Orderful customers connect once to their API platform and can go live with new EDI connections in less than 2 weeks, which is 10x faster than competitors.
Marking First Full Year of Operations, Vaulted Deep Secures $32.3 Million Series A Funding Led by Prelude Ventures
Vaulted Deep (“Vaulted”), a biomass carbon removal and storage (BiCRS) company specializing in durable carbon dioxide removal (CDR), announced that it has raised $32.3 million in Series A funding. The round was led by new investor Prelude Ventures and returning investors with super pro rata participation including from Lowercarbon Capital, Earthshot Ventures, and WovenEarth Ventures. Additional new investors include Fall Line Capital and Rethink Impact.
As a spinoff from an established waste disposal company, Vaulted launched in late 2023 with existing, permitted well infrastructure and an experienced team. This has allowed the company to deliver CDR quickly and safely using mature, proven injection technology.
Solugen Awarded DoD Contract to Advance Bioindustrial Manufacturing Capabilities
We’re thrilled to announce that Solugen has been awarded $2 million under the Department of Defense’s (DoD) Distributed Bioindustrial Manufacturing Program (DBIMP). This funding supports our plans to develop a multi-use modular facility aimed at cost-effective domestic production of critical dual-use chemical precursors—materials vital for both defense applications and broader commercial industries.
The planned facility will integrate advanced modular production technologies, enabling flexibility to produce chemical precursors vital for applications in defense and beyond. By leveraging our proprietary bio-based manufacturing platform, Solugen will contribute to reducing the environmental impact of chemical production while supporting the DoD’s need for secure, domestic supply chains.
Radiant Secures $100 Million in Series C Funding, Plans Milestone Test at INL’s DOME Facility
Radiant Industries, Incorporated, a leader in advanced nuclear technology, today announced a $100 million Series C funding round led by DCVC, a preeminent deep tech venture capital firm. The round included participation from a16z’s American Dynamism team, which led the Series B, and Union Square Ventures, and welcomed new investors Felicis, Washington Harbour Partners LP, and Chevron Technology Ventures. This investment comes on the heels of Radiant’s passive cooldown demonstration, a critical test of a full-scale, non-fueled reactor, and brings the company’s total venture funding to $160 million.
The funding will primarily be used to complete Radiant’s Kaleidos Development Unit, the same reactor design that will be manufactured and sold to customers. At INL, the unit will undergo a comprehensive testing program including rigorous evaluations of the reactor’s failsafe mechanisms and proprietary semi-automated control system, providing validation cases for regulatory analyses. Funds will also be used for factory siting and early construction efforts, breaking ground on the facilities that are expected to produce up to 50 microreactors per year.
Ecolectro Closes $10.5M Series A Round to Accelerate Next-Generation Green Hydrogen Electrolyzers
Ecolectro, an emerging leader in green hydrogen technology, today announced the successful close of its $10.5M Series A funding round, led by Toyota Ventures with participation from Starshot Capital, DNX Ventures, Energy Revolution Ventures, New Climate Ventures, Banco Popular Impact Fund, and Techstars, among others. This funding brings Ecolectro’s total capital raised to $27.7M, including grant funding from the U.S. Department of Energy under the Infrastructure Investment and Jobs Act, New York State’s Energy Research and Development Authority (NYSERDA), and the National Science Foundation. These funds will be used to accelerate the development and deployment of Ecolectro’s groundbreaking Anion Exchange Membrane (AEM) electrolyzers, offering an affordable and scalable path to reducing carbon emissions through true green hydrogen.
Ecolectro, founded by Cornell PhD chemists Dr. Kristina M. Hugar and Dr. Gabriel G. Rodríguez-Calero, has developed a breakthrough AEM electrolyzer. At the core of this technology is a proprietary membrane chemistry that eliminates the need for rare earth materials like iridium and harmful chemicals such as PFAS, instead utilizing readily available, recyclable and eco-friendly materials. This membrane is highly durable, operating efficiently in high-temperature and alkaline conditions, and achieves over 70% efficiency (<47.5 kWh/kg) in typical operating environments, significantly outperforming comparable PEM and alkaline systems.
Agility Robotics Announces Strategic Investment and Agreement with Motion Technology Company Schaeffler Group
Agility Robotics, creator of the leading bipedal Mobile Manipulation Robot (MMR) Digit, announced during an appearance at global technology conference Web Summit that Schaeffler has made a minority investment in the company. In addition to the investment, the companies have signed an agreement in which Schaeffler, the motion technology company, intends to purchase humanoid robots from Agility Robotics for use across the whole global Schaeffler plant network.
Leonid Capital Partners Announces $10 Million Debt Investment in Ion Storage Systems, Driving Safer, Scalable Energy Solutions
Leonid Capital Partners, a leader in flexible, non-dilutive financing for critical sectors, announced a $10 million debt investment in Ion Storage Systems, Inc. (“ION”), an innovator in advanced solid-state battery technologies. This funding aims to accelerate ION’s mission to deliver a safer, more efficient energy solution through their groundbreaking solid-state battery technology.
ION is transforming energy storage with its patented bi-layer ceramic electrolyte that addresses key safety and performance issues inherent to conventional lithium-ion batteries. Unlike traditional designs, ION’s technology eliminates flammability risks, reduces the need for extensive cooling systems, and provides industry-leading energy density attributes. These capabilities make ION’s technology particularly valuable for defense, aerospace, and other high-demand applications where reliability is essential.
Accelsius Secures $24M in Series A Funding to Efficiently Cool AI Data Centers
Accelsius™, whose proprietary two-phase, direct-to-chip liquid cooling systems enable high-performance computing and rack density for data center and edge operators, announced the successful raise of $24 million pursuant to a Series A funding round. The Series A funding round started in early 2024. Funding for this round has been provided from and privately raised by Innventure, Inc. (NASDAQ:INV), who founded Accelsius in June 2022. Innventure is a technology commercialization platform that founds, funds and supports the launch and scale of its companies with a focus on transformative technology solutions.
Accelsius will use the funds to accelerate its plans for an international presence, continue to grow shipments and revenue in the U.S., and expand its professional teams across engineering, R&D, sales, marketing, manufacturing and operations. The company, recently selected as one of Austin Business Journal’s 2024 Best Places to Work, already employs some of the industry’s brightest and best thermal scientists and enterprise-grade system engineers.
CHAOS Industries Raises $145 Million Series B to Accelerate Defense and National Security Technology Development
CHAOS Industries, a technology company building the next generation of defense and critical industry technologies, announces that the company has raised $145 million in Series B funding to support the next phase of its commercial growth and development. The Series B was led by Accel, with participation from 8VC, as well as Overmatch Ventures, Lerner Enterprises, and existing insiders.
Proceeds will be used to spur the development of CHAOS Industries’ advanced detection, monitoring, and communication solutions to the defense, government, and commercial sectors, as well as to accelerate the company’s product development, hiring plans, and high-volume manufacturing.
Lunar Outpost Secures Series A Funding to Accelerate Commercial Pursuits on the Moon
Lunar Outpost, the industry leader in lunar surface mobility, commercial space robotics and space resources, announced it has raised a Series A funding round, co-led by Type One Ventures (investor in Argo Space and SpaceX) and Industrious Ventures (investors in Starfish Space, ICON, and Stoke Space). Other notable funds including Promus Ventures also participated. The funding will be used to support Lunar Outpost’s active programs, including its work with NASA’s Lunar Terrain Vehicle Services (LTVS) contract, the Australian Government to progress the country’s space exploration, and the Luxembourg Space Agency to enhance operational viability on the Moon, cislunar space, and extreme conditions on Earth.
Gazelle Wind Power Raises €11.4M
Gazelle Wind Power (Gazelle), the developer of a next-generation floating offshore wind platform technology, has secured a 11.4 million funding round led by Indico Capital Partners, a premier investor in ocean related sustainable technologies. Other investors in the round included DST Group, August One, Wah Kwong, and E2IN2, among others. The funding will further accelerate the development of Nau Azul, Gazelle’s 2MW grid-connected demonstrator in Aguçadoura, Portugal.
Gazelle’s next generation floating offshore wind platform addresses critical industry challenges like high mass production and installation costs, complex supply chain logistics, limited suitable installation sites, reducing the Levelized Cost of Electricity (LCOE) whilst mitigating the environmental impact of traditional platforms on marine ecosystems.
The platform’s revolutionary patented dynamic mooring system reduces pitch and balances movement in response to external forces, including wind, waves, and tide. Its lightweight, modular design is based on naval engineering principles, does not use active ballasting systems, and allows for scalable, adaptable configurations, making it a more affordable and accessible solution for deep water deployment. The modularity of Gazelle’s components also enables cost-effective fabrication in shipyards, with final assembly near the wind farm site.
NitroVolt secures €3.5M: How will this Danish startup transform green ammonia production
In a recent development, NitroVolt raises €3.5 million in seed funding. Participants in the round include female-led Swedish VC BackingMinds (which backed Uniqkey and Cemvision) the sovereign wealth fund of Denmark EIFO, and climate tech and early-stage investors EQT Foundation, Satgana, and DivisionM. The Breakthrough Energy Fellowship has provided a grant in 2023 and is now following that with an equity investment in the current round. This follows the €750K investment secured earlier this year.
The company is working towards a solution that will produce green ammonia directly at the farm, disrupting this cumbersome and long supply chain while circumventing all CO2 emissions. NitroVolt plans to take its technology from the lab to the real world. The next phase of the company will be to scale its technology. It will also be used to build the first on-site container-sized demonstration unit, producing green ammonia from air, water, and clean electricity. With the capital, the company will be able to identify and forge partnerships with partners and suppliers to further support the scaling and building of these systems as the company continues to grow.
GITAI Raises an Additional US$15.5 Million in Funding
GITAI USA Inc. (GITAI), the world’s leading space robotics startup, is pleased to announce that GITAI has raised an additional US$15.5M as part of its Series B Extension round in October 2024. This follows US$30M raised in May 2023 and US$15M raised in August 2023, bringing the total in the Series B Extension round to US$60.5M.
To reduce the cost of space operations by 100 times, GITAI is developing robotic satellites for on-orbit services, lunar robotic rovers for infrastructure construction, and inchworm-type robotic arms that can be used in both areas. All of these technologies are being developed in-house.
Vecna Robotics Taps Autonomous Vehicle Pioneer Karl Iagnemma as CEO, Secures Additional Funding to Drive Growth
Vecna Robotics, the leader in flexible material handling automation solutions, today announced it has brought on Karl Iagnemma as CEO and closed $14.5MM in additional funding from existing investors. Proceeds of the funding round are earmarked to accelerate technology and product enhancements to address the automation needs of operators in automotive, general manufacturing, and high-volume warehousing.
Iagnemma is a robotics expert and entrepreneur with a distinguished career blending academic research and industry leadership. He co-founded and served as CEO of autonomous vehicle technology company nuTonomy, which was later acquired by Aptiv in 2017 for $450MM. Under Iagnemma’s leadership, nuTonomy launched the world’s first public robotaxi pilots in Singapore. Iagnemma was also founding CEO of Motional, a $4B robotaxi joint venture between automaker Hyundai Motor Group and Tier 1 supplier Aptiv.
Prior to his industry career, Iagnemma directed the Robotic Mobility Group research laboratory at MIT, where he authored publications related to robotics and artificial intelligence that have been cited more than 20,000 times. Iagnemma is also an inventor with more than 50 issued or pending patents in robotics and autonomous vehicles. While at MIT, Iagnemma met Daniel Theobald, a fellow MIT alumnus and founder of Vecna Robotics. In 2020, Iagnemma made an angel investment in Vecna Robotics based on the company’s technology leadership and the potential for robotics to revolutionize material handling.
Sunthetics Secures $4 Million Seed Round to Revolutionize Chemical Industry with AI-Powered Innovation
Sunthetics, a pioneering AI technology company, has announced the successful close of its $4 million Seed round, led by L’ATTITUDE Ventures and joined by S3 Ventures, Hearst Level Up Ventures, and the Global Impact Fund II. The funds will be strategically allocated to expand the Sunthetics team and enhance the company’s innovative machine learning platform, designed to accelerate the pharmaceutical and chemical research and development (R&D) process to drastically cut time-to-market and R&D costs.
Trusted by the world’s largest pharmaceutical, chemical, and cosmetics companies, as well as leading research institutions, Sunthetics is quickly becoming the industry standard for AI-optimized process development. A top five pharmaceutical company saw 6x faster process development, a 75% reduction in expensive materials, and 12% higher efficiency with Sunthetics and other customers have seen similar results.
General Galactic Raises $8M to Advance Fossil-Free Fuel Revolution
General Galactic, a pioneer in fossil-free fuel generation technology, announced the closing of an $8 million seed funding round, bringing the total investment in the company to $10 million. The investment was co-led by Harpoon Ventures and Refactor Capital, with participation from Pathbreaker, BoxGroup, Seraphim, Plug and Play, Impact First and Climate Capital.
The investment will accelerate the development and deployment of General Galactic’s proprietary Genesis technology, which transforms industrial CO2 waste streams into fossil-free natural gas. The company plans to expand its engineering team to pursue its goal of building commercial fossil-free natural gas generation plants across the globe.
The Genesis system represents a breakthrough in sustainable fuel technology that works with existing energy infrastructure while eliminating fossil fuel dependency. The technology targets maritime shipping, agriculture and heavy industry sectors, where carbon reduction requirements and long-term capital investments will demand consistent access to low-emission, high-density fuels. The company is developing the full production stack for these fuels and has a proven pilot system producing 2,000 liters of methane per day.
Vatn Systems Raises $13 Million Seed Round to Advance Autonomous Underwater Vehicles for US Defense
Vatn Systems, a leading defense technology company building autonomous underwater vehicles for the US military and allies, announced it has raised an oversubscribed $13 million seed round, bringing total funding to $16.5M. The round was led by DYNE Ventures with participation from Lockheed Martin Ventures, RTX Ventures, In-Q-Tel (IQT), Propeller Ventures, SAIC Ventures, Cubit Capital, Fortitude Ventures and existing investors that include Centre Street Partners, The Veteran Fund, Blue Collective, and Decisive Point.
Vatn Systems’ cost-effective, modular autonomous underwater vehicles enable customers to deploy effects at scale against undersea and surface targets. Bridging the gap between AUVs and torpedoes, Vatn’s flexible design and in-house Inertial Navigation System enable precision delivery of a wide range of effects at ranges of almost 1,000 miles. A core differentiator is the company’s advanced navigation software that is effective in GPS, vision, and communication-compromised environments. Vatn vehicles use applied AI to make decisions in real-time, and the systems also leverage Machine Learning to enhance navigation algorithms.
Klim raises ‘massively oversubscribed’ Series A, adds financial services layer to its insetting platform
Insetting solutions provider Klim has raised a $22 million Series A round led by BNP Paribas, one of Europe’s largest banks. Earthshot Ventures, Rabobank, AgFunder*, Norinchukin Bank, Achmea Innovation Fund, Ananda Impact Ventures and Elevator Ventures also participated. Part of the new funding will enable Klim to introduce a new financial services layer to its platform — hence the interest from banks in this round.
Klim helps food companies decarbonize their agricultural supply chains through insetting projects, where companies work to reduce emissions in their own value chain rather than relying on offsets. To enable this, its digital platform provides tools like agronomic support and transition capital that can help farmers shift to regenerative agriculture practices, which are vital to insetting projects and reducing scope 3 emissions. Farmers can use the Klim platform to plan, execute, and finance their transition to regenerative practices.
tozero raises €11 million to expand recycled lithium production
tozero, a Munich-based battery recycling startup, has raised €11 million in an oversubscribed seed funding round led by NordicNinja, with new investors including In-Q-Tel, Honda, and JGC Group. Existing investors Atlantic Labs, Verve Ventures, and Possible Ventures also participated in the round.
Founded in 2022 by Sarah Fleischer and Dr. Ksenija Milicevic Neumann, tozero focuses on sustainable lithium-ion battery recycling, addressing Europe’s lithium supply gap by recovering critical raw materials and reintegrating them into global supply chains. This latest funding will support tozero’s plans to build its first industrial-scale plant and scale up production of recycled lithium in Europe.
Brightpick Raises $12 Million to Accelerate Rollout in the US
Brightpick, a leading provider of warehouse automation solutions for order fulfillment, announced it has raised an additional $12 million in a mix of equity and debt. The round saw participation from new investor EBRD Venture Capital, alongside existing investors Pavel Baudiš and Eduard Kučera (founders of Avast), Miroslav Trnka (founder of ESET), Maximilian Kolowrat-Krakowsky, and Juraj Duriš.
Founded in 2021 as a spin-off of Photoneo, a leader in 3D robotic vision sensors and intelligence software, Brightpick now has over 200 employees and 300 AI robots deployed across the US and Europe. Its customers include leading companies such as Rohlik Group, Dr. Max, and The Feed. To date, Photoneo has invested over $35 million in Brightpick, with this latest round bringing total funding to $47 million. The new funding will primarily support the deployment of Brightpick’s AI robots in the US, which is expected to generate 50% of the company’s revenue in 2024.
Copernic Catalysts Closes $8M Seed Prime Led by Breakout Ventures to Scale Its Transformational Catalyst for Sustainable Ammonia Production
Copernic Catalysts, a developer of novel catalysts for sustainable chemicals and e-fuels, today announced it has raised an oversubscribed $8 million Series Seed Prime round. Breakout Ventures led the round, with existing investors Future Ventures and Engine Ventures and new investors, including Innospark Ventures, New Climate Ventures, and Impact Science Ventures. Copernic will use the fresh capital to scale its ammonia synthesis catalyst to the kg-scale and to expand beyond that work with its exclusive research partner, Schrödinger, to develop a second catalyst target for the Fischer-Tropsch syngas-to-sustainable aviation fuel (SAF), thereby improving the carbon footprint of the aviation industry.
“To realize the potential of ammonia in global decarbonization efforts, ammonia’s own carbon intensity must be reduced. Copernic utilizes cutting-edge computational materials design to transform the production of commodity chemicals and e-fuels like ammonia for a low-carbon future,” said Dr. Jacob Grose, co-founder and CEO of Copernic. “Our first proprietary catalyst – already being tested by one of the world’s largest ammonia producers – can drop into existing manufacturing infrastructure and drastically reduce the temperatures and pressures required for ammonia synthesis, thereby enabling the economic production of reduced- and zero-carbon ammonia.”
The Copernic founding team brings decades of experience in the chemicals industry. Dr. Grose was previously an Investment Manager at BASF Venture Capital, and Dr. Aruna Ramkrishnan, co-founder and CTO, previously held technical leadership positions at ExxonMobil and Linde.
DeepRoute.ai closes $100M Series C1 led by Great Wall Motor
DeepRoute.ai announced a strategic Series C1 funding round raising $100 million, led by Chinese automotive manufacturer Great Wall Motor. The company said it plans to use the funding will enhance research and development in its DeepRoute IO “end-to-end” model.
It also plans to scale collaborations with global automakers, explore future robotaxi business, and support the recruitment of more AI-native talent.
The Shenzhen, China-based company claimed that it has made significant strides, with approximately 20,000 vehicles delivered since August. That momentum continues, as DeepRoute.ai plans to release over 10 new vehicle models in partnership with select OEM clients next year. Furthermore, the next-generation DeepRoute, powered by a cutting-edge visual language action model, is set to debut next year.
FormFactor and Advantest Collaborate on SiPh Wafer-Level Testing Solution for High-Volume Production
As silicon photonics (SiPh) continue to transform AI and high-performance computing (HPC), the need for cutting-edge, scalable testing solutions has never been greater. FormFactor and Advantest are at the forefront of this change, announcing a groundbreaking new partnership to accelerate production for silicon photonics and co-packaged optics. This new collaboration blends FormFactor’s precision measurement technology with Advantest’s industry-leading automated test equipment (ATE), creating a unified solution to meet the demands of high-volume manufacturing.
Forefront RF secures £16M to power next-gen connectivity solutions
Forefront RF Ltd, a fabless semiconductor company based in Cambridge, UK, announced the closure of its £16 million Series A funding round, backed by existing investors BGF and Foresight Group, alongside new VC partners, Octopus Ventures and Cambridge Innovation Capital. This infusion of capital supports Forefront RF’s mission to redefine how mobile devices manage complex RF environments, expanding possibilities for connected devices worldwide. With this investment, the company is set to transition from an early-stage startup to a mature player in RF technology, gearing up for the 2026 launch of its first-generation product, the FFM51010, to the fast growing cellular-enabled smartwatch market.
Forefront RF’s groundbreaking technology, rooted in pioneering research by founder Dr. Leo Laughlin, empowers mobile device manufacturers to overcome printed circuit board (PCB) size limitations while supporting more frequency bands with simplified, cost-effective designs. The company’s first solution is aimed cellular-enabled wearables, where every millimetre of PCB is critical and expanding frequency band capabilities is essential. By replacing bulky fixed-frequency filters and duplexers with a self-configuring tunable duplexer, Forefront RF enables devices to dynamically adjust to any required frequency, reducing overall component list and manufacturing complexity. This innovation not only saves valuable PCB space but also minimizes variants, reducing waste and enhancing supply chain efficiency—creating a win-win for manufacturers and their CSR goals.
Parallel Fluidics Secures $7M Seed Round to Accelerate Microfluidic Development for the Next Generation of Life Science Tools
Parallel Fluidics, the fastest microfluidic device manufacturer in the world, announced the close of its $7M seed round, led by J2 Ventures with participation from 8VC and Praxis. The funding will help drive the growth of the company’s on-demand design and manufacturing platform, expand its hardware and software solutions, and commercialize its new product, MV-2.
Parallel Fluidics’ hardware library offers an array of off-the-shelf hardware solutions to solve engineering challenges in microfluidics, reducing the cost and time for customers to develop new products. The MV-2 is Parallel’s latest addition, an innovative microvalve that enables products to work at the point-of-care, like a doctor’s office, clinic, or hospital, instead of only in laboratory environments. Overture Life, an exciting life science startup simplifying in-vitro fertilization procedures, is using the MV-2 to control flow in their next-generation system.
Scaling grid innovation: Volvo Penta follow-on investment in UtilityInnovation Group
Volvo Penta announced a follow-on investment in UtilityInnovation Group (UIG), a USA and Ireland based company specializing in resilient, innovative utility systems and decentralized energy solutions. This strategic investment marks a continued commitment to driving the energy transition. It also underlines Volvo Penta’s role in the growing global market for energy infrastructure as an independent supplier of energy-dense battery energy storage (BESS) subsystems.
Building upon the partnership established with Volvo Penta’s initial investment in 2023, UtilityInnovation Group (UIG) will scale its expertise to meet the accelerating demand for more dynamic, sustainable electric grid infrastructure. “This follow-on investment in UtilityInnovation Group reflects our commitment to advancing reliable and efficient electrified power solutions as part of our broader net-zero ambitions,” said Anna Müller, President of Volvo Penta.
Glint Solar Closes $8 Million Series A Round to Accelerate Global Solar Power Adoption
We’re thrilled to announce an $8 million Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler!
We founded Glint Solar because we recognized that while solar is one of the most efficient and cost-effective ways of curbing the climate crisis, projects move too slowly. With 73% of solar development companies’ time spent on projects that don’t make it to the permitting stage, there is an urgent need for better tools and insights on solar development. We are committed to making solar development faster and less error-prone by building the world’s leading development platform for solar and BESS.
We are proud to support companies like Turn Energy, Statkraft, E.ON, Recurrent Energy, and many more across the 35+ countries where our customers work. We believe in a partnership model where we focus on understanding our customers’ challenges and come up with the best solutions. This we have come to see is a true win-win model.
Nimbus Power Systems Secures Financing Led by Connecticut Innovations to Accelerate Development of the World's Most Advanced Zero-Emission Heavy-Duty Fuel Cell Engine
Nimbus Power Systems, Inc., a pioneering developer of advanced fuel cell technologies for heavy-duty vehicles, announced the successful closing of its pre-seed financing round led by Connecticut Innovations, Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies. The investment will enable Nimbus to accelerate the development and demonstration of its cutting-edge, zero-emission heavy-duty fuel cell engine, designed to be the most advanced in the world.
The funding round also included participation from additional investors, reflecting strong support from both public and private stakeholders in the clean energy and transportation sectors. With this capital infusion, Nimbus will focus on scaling its technology and preparing to showcase the viability and performance of its zero-emission fuel cell engine and its ability to reduce emissions in the heavy-duty transport market.
The new capital will also be used to advance research and development efforts, expand the team, and initiate pilot projects that will validate the performance and durability of Nimbus’ zero-emission fuel cell technology under real-world operating conditions. The company’s fuel cell engine is engineered to deliver higher efficiencies and lower emissions, compared to traditional diesel engines, addressing a critical need in the transportation industry’s push toward decarbonization.
Boston Materials Announces $13.5M in New Funding for Manufacturing Expansion and Establishing Supply Chain Partnerships
Boston Materials, a manufacturer of advanced materials key to the next generation of semiconductors and aircraft platforms, announced $13.5 million in new funding. The investment was led by AccelR8 and Diamond Edge Ventures, the US-based corporate venturing arm of Mitsubishi Chemical Group, a leading global carbon fiber manufacturer. With this funding, Boston Materials is accelerating its expansion into the semiconductor market, building from its existing footprint in the aerospace market. The $13.5 million equity investment round also saw participation from returning and new investors, including Valo Ventures, Gatemore Venture Partners, Collab Fund, and Woori Venture Partners.
Founded in 2016, Boston Materials produces a new class of materials that are conductive and durable like metal, yet light as plastic. The underlying patented technology, Z-axis Fiber™, uses vertically aligned carbon fibers to create materials with enhanced energy transfer properties. Highly differentiated advanced materials, commercialized under the ZRT® tradename, solve critical challenges relating to thermal management and vehicle weight reduction across trillion-dollar industries– including Semiconductors, Aerospace, and Electrified Vehicles. Backed by scaled manufacturing technologies, facilities primed for high-volume production, and validation in performance-critical applications across high-growth sectors, industry leaders turn to Boston Materials to go beyond today’s known limitations.
CynLr cements $10M in Series A funding led by Key Venture Partners to drive robotic automation in manufacturing
CynLr has raised $10 million in Series A funding to enhance its advanced robotics solutions. The investment was led by Pavestone and Athera Venture Partners (formerly Inventus India), with contributions from existing backers Speciale Invest, Infoedge’s Redstart, and others.
This latest round brings CynLr’s total funding to $15.2 million. The capital will be allocated toward expanding the company’s supply chain network and increasing the workforce from 60 to 120 members, with additional teams in India, the US, and Switzerland. CynLr aims to bolster its research and software development capabilities, as well as its sales and marketing efforts to drive broader adoption of its robotics technology.
CynLr is working on a technological solution that aims to resolve a long-standing issue in robotics: the challenge of enabling robots to recognize, manipulate, and interact with objects in unstructured environments without extensive pre-programming. The company’s CyRo system—a three-armed, modular robot—uses a proprietary vision system called CLX-01, which functions similarly to human eyesight.
This system can perceive object depth dynamically, even for transparent or reflective objects, by employing real-time motion and convergence through dual lenses. This technology, known as “Event Imaging,” enables CyRo to function with high precision under various lighting conditions.
Advex AI Raises $3.5M Seed Round, Launches Revolutionary GenAI Synthetic Data Platform for AI Vision in Manufacturing
Advex AI, a bleeding-edge startup tackling the critical data problem in AI Vision for manufacturing, announced their $3.5 million seed funding round led by Construct Capital, with participation from Pear VC, Emerson Collective, and notable angel investors Arash Ferdowsi (Dropbox founding CTO) and Ankit Jain (Infinitus CEO). The company also revealed its selection as a top 20 Finalist at this year’s TechCrunch Disrupt Startup Battlefield.
Advex’s platform represents a radical shift in how enterprises develop production-grade AI Vision models. Instead of undergoing months of expensive data collection cycles, AI and automation teams can reduce the time to hours by leveraging Advex’s GenAI platform to automatically figure out what data is missing, then synthetically creating that missing data using advanced diffusion models.
Seven of the world’s largest manufacturers already use Advex’s Vision technology, with over 25 additional billion-dollar companies currently adopting Advex’s breakthrough capabilities. Customers routinely benefit from a 50%+ improvement in visual automation performance in just a few days - a feat which would normally take many months, if not years, to achieve.
Broswarm targets safer demining in Ukraine with €800K for X-Ray Eagle sensor
Broswarm, a Vilnius-based startup specializing in mine detection technology, has secured €800K in funding from ScaleWolf, a hybrid accelerator and investment fund focused on defense tech. This investment will support the further development of Broswarm’s X-Ray Eagle sensor, which is designed to enhance mine detection by providing detailed 3D images of buried objects from a height of up to 10 meters. The technology, which gained recognition by winning a NATO innovation challenge, aims to improve the safety and efficiency of demining operations, particularly in Ukraine, where landmines pose significant risks to agriculture and infrastructure.
Despite substantial investment in demining efforts, outdated technology continues to hinder progress in conflict zones. Most mine detection systems rely on basic sensors that need to be almost at ground level to detect objects accurately, making them prone to false positives—a major drain on time and resources. In Ukraine, where over 30% of the land is suspected to be mine-contaminated, dense vegetation and uneven terrain exacerbate these limitations. With more than 2 million landmines impacting agricultural areas, critical infrastructure, and limiting the mobility of Ukrainian forces, the need for a breakthrough in mine detection technology has never been more urgent.
To address this, Broswarm is developing the X-Ray Eagle, a sensor that uses advanced radio waves to create 3D images of buried objects. Mounted on drones, the sensor can detect items up to 0.5 metres deep while operating from greater heights than traditional technology allows. Following extensive testing and refinement, Broswarm recognized the X-Ray Eagle’s potential to significantly reduce false positives and provide reliable visual data for faster, more effective mine clearance. This new level of accuracy sets Broswarm apart in the mine detection field, paving the way for safer demining operations that are quicker and more efficient.
Xavveo raises €8M in Seed funding to make autonomous driving safe
Berlin-based Xavveo, a startup focused on advancing autonomous vehicle sensor technology, announced that it has secured $8.6M (approximately €8M) in a seed funding round. The round was co-led by Vsquared Ventures and imec.xpand, two funds specialised in deep tech.
The German startup will use the funds to develop its distributed Photonic Radar system, expand the engineering team, and support key partnerships with automakers and technology integrators. The company’s Photonic Radar uses advanced Silicon Photonics technology to place RADAR sensors around the vehicle. This setup delivers a very accurate angular resolution <0.1°.
Led by the founders of Sicoya –Dr. Sven Otte, Dr. Stefan Meister, and a key industry veteran from Intel, Dr. Ulrich Keil, Xavveo focuses on revolutionising the autonomous vehicle and other industries through its proprietary distributed photonic radar system.
Ampd Energy Secures Oversubscribed $27.3 Million in Series B Funding to Accelerate Clean Battery Energy Storage Solutions Globally
Ampd Energy, a global energy industry innovator and manufacturer of the Enertainer and Ampd Silo™ battery energy storage systems (ESS) for heavy industries, announced that it has raised $27.3 million in an oversubscribed Series B funding. The round was co-led by Kibo Invest and Openspace, the largest investor in this round, with notable participation from existing investors MTR Lab, Taronga Ventures and 2150, confirming their support and belief in Ampd Energy by participating above pro-rata. The funds will be used to further expand decarbonization across new verticals and regions.
Focusing on technical innovation and commercial viability, the company to date has deployed more than 300 units among seven countries, primarily in construction and abated over 69,000 tons of CO2, which is equivalent to removing over 88,000 cars from the road. The 2022 Earthshot Prize finalist plans to leverage this recent funding - secured in a challenging fundraising environment - to expand into new markets such as mining and manufacturing in 2025. Proceeds will also go toward targeting new geographies including the Middle East, Europe, United States and Southeast Asia, supported by their new partnership with Kibo Invest and Openspace.
Plato secures $6.5M to transform wholesale industry with AI-based ERP automation platform
Plato, a Berlin-based AI-based ERP automation platform for wholesale distributors, has secured $6.5 million in pre-seed funding. The round was led by Cherry Ventures (which recently invested in Voliro and Atlas Metrics), with additional backing from the German government and C-level angels from tech giants, including Microsoft, SAP, NVIDIA, Celonis, Personio, Sennder, and Forto.
The company is all set to transform the AI transformation of the $53 trillion global wholesale industry. The new funding will be used to expand Plato’s team and scale its product across multiple large customers with thousands of sales representatives.
The company’s innovative platform integrates seamlessly with existing ERP systems, offering sales intelligence, AI-driven recommendations for cross-selling, up-selling, and churn prevention; and workflow automation of routine tasks such as quote and order creation, freeing up sales teams to focus on growth.
Start-up SeaO2 secures €2+ million investment to extract 1 gigaton of CO2 out of the sea by 2045
Dutch startup SeaO2, specialising in innovative carbon (CO2) removal technology from seawater, announces receiving €2+ million in new investments. Utilising its breakthrough Direct Ocean Capture (DOC) technology, which efficiently extracts CO2 from seawater, SeaO2 aims to mitigate climate change by returning carbon-free water to the ocean, enhancing its ability to absorb CO2 from the atmosphere. This funding will accelerate the development of its pioneering technology and support the goal of removing one megaton of CO2 by 2030 and a gigaton by 2045.
The recent investment round attracted support from prominent investors, including DOEN Participaties, NEW-TTT fund, Future Tech Ventures, CarbonFix, angel investors Eduard Talman and Siddharth Kambe and others. This €2+ million funding will facilitate the transition from prototype to pilot plant, enhance team capabilities, and implement a comprehensive Monitoring, Reporting, and Verification system. The pilot plant is expected to have an annual capacity of 250 tons of CO2 and is scheduled for launch in the summer of 2025.
Robot AI startup Physical Intelligence raises $400 mln from Bezos, OpenAI
Physical Intelligence, a startup that is developing foundational software for robots, said it has raised $400 million in early-stage funding from Amazon’s Jeff Bezos, OpenAI, venture capital firms Thrive Capital and Lux Capital. The new funds were raised at a $2 billion valuation, PitchBook data showed.
Multiple startups are foraying into the robotic AI space, including Vicarious, which was acquired by Alphabet-owned Intrinsic in 2022, Universal Robots, Seegrid, and Covariant.
Cintoo raises €37M for industrial metaverse and 3D scanning solutions
French-American scale-up Cintoo, a leading cloud-based reality data management solutions provider, secured €37 million in Series B funding. Partech led the round, which included existing investors Amavi Capital and Armilar Venture Partners.
The fresh capital will help Cintoo enhance its SaaS platform by expanding integrations and strengthening its offerings for the construction and industrial sectors. The company plans to accelerate its AI and Metaverse initiatives while growing its presence in the US and European markets.
The founders’ vision and innovative solutions transformed 3D scanning. They recognised its potential to transform industries, but the resulting data files (called ‘point clouds’) were challenging to handle, view, and share. Their solution was a cloud-based platform that makes this data accessible for applications like Building Information Modeling (BIM) and Digital Twins. Cintoo’s clients can scan entire buildings and design or monitor work remotely, reducing the need for frequent site visits.
Cintoo stands out in the competitive 3D scanning and reality data management landscape with its unique compression and accessibility approach. As CEO Dominique Poulinquen explained to the TFN, “Our core technology transforms laser scanner data from point clouds into 3D surfaces, similar to video games. This compresses the data by 10 to 20 times while maintaining accuracy. The resulting ‘mesh-based’ scans require less storage space and can be quickly streamed in any web browser.”
Puloli Announces Second Round Funding
Puloli, Inc., an IoT solutions provider specializing in affordable methane monitoring at scale, announced its second round of funding. A group of new investors are joining existing investors in this round of financing. The initial closing in August was followed by an additional closing in October.
The company is launching additional basins this year. Last year’s commercial launch in Eagle Ford was followed by extensive real-world testing, which is generating demand for the Paradigm M-Series across many regions. The capital raise will allow the company to expand its industry lead in delivering affordable end-to-end monitoring solutions at scale, including the analytics and algorithms that quantify methane mass flow rate. That is the single most critical metric the industry is seeking, and Paradigm is the only option in the market that offers this as a subscription service.
Paradigm M-Series by Puloli™ is the only true Solution-as-a-Service (SaaS) available for affordable methane monitoring at scale. It is also the only solution underwritten with an SLA, where the quantification data is validated through long-duration in-situ testing in production-like settings.
Apple to invest up to $1.5 bln in Globalstar for satellite coverage expansion
Apple will invest up to $1.5 billion in Globalstar to fund the expansion of its iPhone communication services. Under the funding agreement, Apple will commit $1.1 billion in cash and also purchase 20% equity in Globalstar for $400 million. The satellite company said it will use a portion of the funds to pay down debt. Globalstar also said it will allocate 85% of its network capacity to Apple.
Bifrost raises $8M to accelerate AI's ability to solve problems in the physical world
Bifrost AI, a Generative 3D Data platform, raised $8 million in Series A funding to meet the growing demand for AI training data and 3D simulations. Its physically accurate data generation engine provides the vast real-world scenarios crucial in rapidly training, testing and adapting models in AI and Robotics. The round was led by Carbide Ventures, with participation from Airbus Ventures, Peak XV’s Surge (formerly Sequoia Capital India & SEA), Wavemaker Partners, MD One, and Techstars. The capital will be used to accelerate the commercialization of Bifrost’s product for heavy industries such as aerospace, maritime, manufacturing, and national security.
Bifrost’s breakthroughs in Generative AI and 3D graphics allow users to create realistic, industry-specific data & scenarios at scale—no 3D expertise needed. Designed for AI developers, the platform offers fully controllable real-time 3D worlds in supercharged Jupyter notebooks. Traditional 3D simulators often fail to deliver realism, while 2D generative AI lacks the nuanced control necessary for sophisticated applications. Bifrost bridges this gap with a hybrid approach, combining an unprecedented level of precision with realism. Users harness a powerful Python library to program every element of their 3D worlds, from camera movements to environmental conditions, automating and fine-tuning their simulations with ease.
Flower raises €45 million to revolutionise European energy flexibility
Flower has closed its Series A funding with an additional €20 million, bringing the round total to €45 million as it aims to redefine the post-transition energy system. The round was led by Northzone, with additional investment from Giant Ventures, 82an Invest, Sony Innovation Fund, and angel investors Thomas von Koch and Sebastian Knutsson, founder of game developer King.
Flower is enabling and managing tomorrow’s clean energy system by fostering flexibility, stability, and predictability in global energy grids, while also providing renewable power asset owners with enhanced revenue streams. This is achieved through Flower’s AI-driven platform and supporting hardware infrastructure.
The company will use this capital to support its ambitious pan-European expansion and to continue developing its Battery Energy Storage Systems. Currently active in Sweden and Denmark, Flower plans to extend operations to the DACH region, France, the Netherlands, and Belgium by 2025 and 2026.
LuxWall Raises $51 Million Funding to Accelerate Decarbonization of Buildings
LuxWall, a leader in glass-based transparent insulation solutions to reduce energy consumption and carbon emissions from buildings, has closed a US $51 million Series B funding round led by Climate Investment and Barclays Sustainable Impact Capital. New investors Carbon Equity and The Nature Conservancy participated in the round alongside existing investors Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures.
The recent funding allows LuxWall to scale up production at its newly opened factory in Litchfield, Michigan, which received the support from Michigan Governor Gretchen Whitmer. It will also enable the construction and expansion of a second factory in Detroit, Michigan, as well as the growth of research and development at the R&D Center in Ypsilanti, Michigan. Alongside this Series B funding, LuxWall received a $31.7 million U.S. Department of Energy Manufacturing Efficiency and Supply Chain (MESC) grant to support the Detroit facility.
BETA Technologies raises more than $300M in additional equity capital to fund growth and commercialization
BETA Technologies, Inc., an electric aerospace company based in Vermont, has raised $318 million in Series C equity capital. QIA led the raise and several of BETA’s largest investors, including Fidelity Management & Research Company and TPG Rise Climate increased their ownership in BETA. Longtime customer United Therapeutics has also joined this round as an investor. The financing round was priced at an increased valuation relative to prior equity capital raises and was meaningfully oversubscribed. To date, BETA has raised more than $1 billion in equity capital.
Over the past eight years, BETA has developed sustainable products that lower the cost of transporting goods and people safely and reliably. This new funding will support the continued production, certification, and commercialization of those solutions, which include BETA’s all-electric fixed-wing and eVTOL aircraft ALIA, advanced high performance electric propulsion systems, as well as its multimodal charging systems and growing infrastructure network.
Scalpel AI raises $4.8M: Can AI revolutionise surgical logistics to save lives and cut costs?
Scalpel AI, a London-based medtech startup, has announced a $4.8M (£3.8M) funding round led by Mercia Ventures, joined by Tensor Ventures and private investors. The funds will support Scalpel AI’s global expansion and the rollout of its pioneering technology with key players in the healthcare supply chain, including sterile services, hospitals, and logistics providers like GlobalMed Logistix (GMLx).
Founded in 2017 by Dr Yeshwanth Pulijala and Dr Shahnawaz Ahmed, Scalpel AI tackles a common yet costly issue in healthcare: the mismanagement of surgical tools and implants. “The success of any surgery depends not only on what happens inside the operating theatre but also on having a smooth-running operation behind the scenes,” says Dr Pulijala, Scalpel AI’s co-founder and CEO. “At Scalpel AI, we work with leading medical device companies and healthcare organisations to transform their logistical supply chain and reduce costs by millions of dollars. Together, we are making surgery safer for patients while paving the way for personalised surgery, which we believe is the future of healthcare.”
The platform uses computer vision and machine learning to track surgical instruments from vendor warehouses to operating theatres, creating a digital twin for each tool. By ensuring surgical trays contain the correct instruments, Scalpel AI aims to set a global standard for surgical logistics and improve patient outcomes.
Endeavor Raises $7 Million to Revitalize American Manufacturing with AI
Endeavor, a startup revitalizing American manufacturing through cutting-edge AI, announced a $7 million seed round led by Craft Ventures, along with Heartland Ventures, Contrary Capital, and BoxGroup, along with former senior executives from Palantir, AWS, and Fortune 500 industrial firms. The company’s platform empowers manufacturers to unify siloed data sources and automate critical processes across sales, operations, and supply chains.
Endeavor partners with manufacturing enterprises to identify operational bottlenecks, apply its AI platform to unify siloed data systems, and automate key processes across multiple departments. The company’s AI platform connects to both structured and unstructured data sources—like ERP systems, spreadsheets, and PDFs to unlock capabilities previously unavailable to customers.
IOTA Software Inc. Announces $10.4 Million Series A2 Funding Led by Altira Group
IOTA Software Inc., a leading developer of industrial and business data visualization software, announced that it has secured $10.4 million in Series A2 funding led by the Altira Group with participation from Oxy Technology Ventures and existing investors, including Aramco Ventures and Second Avenue Partners. J.P. Bauman, Partner at Altira Group, will join IOTA’s Board of Directors.
This new investment will be used to expand IOTA’s engineering, product, and customer success teams and enhance its technology infrastructure and marketing efforts. This will enable IOTA to further develop its innovative technology, expand its global reach, and continue its rapid growth trajectory. With this latest funding, IOTA is well-positioned to solidify its status in data visualization as the premier situational awareness platform supporting digital transformation throughout the process industries.
Redoxblox Closes $40.7 Million Series A to Support Industrial Decarbonization and Grid Storage with Next-Gen Thermochemical Energy Storage System
Redoxblox raised an additional $30M in Series A funding, led by Prelude Ventures and joined by Imperative Ventures and New System Ventures, alongside existing investors Breakthrough Energy Ventures and Khosla Ventures. This brings the total Series A round to $40.7M. Redoxblox is pioneering a new class of low-cost thermochemical energy storage systems (TCES) designed to accelerate industrial decarbonization and address long duration energy storage needs for the grid. The company’s TCES units store energy both chemically and as heat at high temperatures, allowing for continuous or on-demand discharge for industrial processes or electricity generation. The system can fast charge when electricity prices are low or during periods of surplus renewables generation.
95% of industrial heat is provided by fossil fuels, which accounts for 30% of global carbon emissions. Decarbonizing this sector has been historically challenging due to a lack of affordable emissions-free alternatives. With a conversion efficiency comparable to lithium-ion batteries, higher energy density, and direct high temperature air discharge, Redoxblox provides the first reliable, cost-competitive solution to effectively use electricity as an alternative to fossil fuels. The system also offers space efficient, grid-scale long duration energy storage, enabling intermittent renewables to meet baseload needs.
Infraspeak raises €18M Series B funding led by Amsterdam’s Endeit Capital
Infraspeak, an Intelligent Maintenance Management Platform (IMMP), has announced the closure of a €18M Series B funding round, which was oversubscribed by 726 per cent. The funding was led by Endeit Capital to support the Portuguese company’s mission to streamline facilities management through collaborative intelligence. Other European investors such as Bright Pixel Capital, Caixa Capital, Indico Capital Partners, and Innovation Nest have also participated in this round. The funds will help Infraspeak to accelerate its expansion efforts, particularly in Europe, Latin America, and Africa.
By automating workflows and customising preventive maintenance for various asset types, Infraspeak aims to reduce maintenance response times and improve asset longevity. Key features include automated task scheduling, IoT integration, and data-driven insights that enhance operational efficiency. The platform’s flexibility allows facility managers to address specific needs, while its collaborative workspace facilitates real-time communication between teams.
Matter Intelligence Emerges from Stealth with $12 Million Seed Funding to Revolutionize Remote Sensing and Global Perception
Matter Intelligence, a California-based remote sensing startup, has emerged from stealth, unveiling its plans to launch space sensors capable of capturing never-before-seen data about all matter on Earth, from surface to atmosphere. Matter specializes in advancing sensor infrastructure that captures incredibly detailed, beyond-visible data of both natural and artificial materials – creating the most comprehensive “extreme resolution” Earth observation dataset ever compiled. This data will power industries and helps AI models better understand and predict real-world events like never before. The startup has secured $12 million in seed funding led by Lowercarbon Capital, with participation from Toyota Ventures, Pear, Mark Cuban, and E2MC. The funding will accelerate the development of Matter’s sensing infrastructure.
Matter Intelligence’s sensors use hyperspectral imaging, a method that captures thousands of narrow spectral bands of light to distinguish unique material properties. This allows Matter to detect and classify objects and materials that are invisible to traditional optical, radar, or multispectral sensors. Matter’s sensors, designed for deployment on satellites, drones, and aircraft, will offer the world’s first sub-meter hyperspectral and thermal satellite capability.
The startup’s first satellite, EARTH-1, will create the first global encyclopedia of Earth’s material composition, imaging the entire globe with more than 500 times the information density of existing sensors. Matter’s sensors redefine remote sensing with unprecedented precision. Unlike traditional hyperspectral technology, which often falls short of user needs for detail and material differentiation, Matter captures composition, temperature, and structure with a new standard of quality. Traditional systems can’t deliver the resolution and quality needed for actionable data, but Matter provides images that are orders of magnitude more information dense than hyperspectral systems – with science-grade quality and sub-meter resolution. Matter’s data accelerates geospatial computer vision, unlocking mass adoption of Earth observation and enabling powerful predictive capabilities and resilience.
EARTH-1 will be Matter’s first satellite and provide the world’s first sub-meter hyperspectral and thermal imaging capability. Matter will soon announce EARTH-1’s launch date. EARTH-1 will map and monitor Earth’s materials in real time, from mineral composition and vegetation health to atmospheric conditions. With this satellite, Matter is building the first global encyclopedia of Earth’s material composition – capturing the most detailed, multi-dimensional data across the planet.
Third Wave Automation Closes $27 Million Series C Funding to Scale Autonomous Forklifts
Third Wave Automation, provider of autonomous high-reach forklifts powered by Shared Autonomy, closed a $27 million Series C round led by Woven Capital, Toyota’s growth fund. Return investors Innovation Endeavors, Norwest Venture Partners and Qualcomm Ventures joined the round, bringing total capital raised to $97 million. The funding will enable Third Wave to scale its pioneering Shared Autonomy Platform, expand manufacturing of its multimode TWA Reach forklifts, and support future technology development that advances the use of autonomous forklifts in and around warehouse environments.
Third Wave Automation pioneered materials handling automation with its Shared Autonomy Platform, enabling the TWA Reach line of forklifts to operate autonomously or seek help from remote operators who can take control from the safety of their office. The platform uses machine learning to ensure forklifts continue to adapt and improve over time. The TWA Reach forklifts operate in four modes: fully autonomous, remote assist, remote operation and traditional manual operation. They are designed for high-reach applications, capable of horizontal and vertical movement of payloads, and used for end-to-end applications, from inbound, replenish and outbound tasks to all tasks in between.
The dynamic system includes the industry’s most efficient mapping solution. Using automotive-grade 3D lidar, Third Wave Automation can see from the floor to the roof and across aisles, reducing the time it takes to map fixed environments from months to days. The advanced camera warehouse perception system—including Collision Shield, the industry-leading autonomous obstacle detection system running on forklifts—provides remote operators with insights into potential obstacles and how to navigate around them, as well as better views of target pick-and-place locations than manual operators.
Andium Raises $21.7 Million in Series B Funding Led by Aramco Ventures to Cut Greenhouse Gas Emissions
Andium, an expert in Industrial Internet of Things (IIoT) remote-field monitoring and communications technologies, announced its $21.7 million Series B funding close led by Aramco Ventures, the corporate venture arm of one of the world’s largest integrated energy and chemicals companies. Joining the round are existing investors Climate Investment, Intrepid Financial Partners, and prominent individual investors including former Citadel CIO, Thomas Miglis. Following the company’s $15M Series A in 2021, this investment brings the company’s total funding to over $40 million.
The new capital will accelerate Andium’s global expansion, including scaling operations across oil and gas basins in the U.S. and the Middle East. It will also reduce technology and equipment costs, support ongoing research and development, and enhance the range of services Andium offers in industrial automation and emissions monitoring.
Infinite Machine Raises $9.3M in Seed Round Led by a16z to Fuel Non-Car Revolution
Infinite Machine, the New York-based company building the next generation of non-car vehicles, announced the close of its seed funding round. The $9.3M round was led by Andreessen Horowitz through its American Dynamism fund, with additional participation from Adjacent Capital, Necessary Ventures, Otherwise Fund, the founders of Reformation, Replit, and HuggingFace and Formula 1 World Champion Nico Rosberg (Founder Rosberg Ventures). The capital will accelerate production and the market launch of Infinite Machine’s debut product P1 — a high-performance electric scooter designed to be the ultimate vehicle for urban environments.
P1 is a tool created to unlock the experience of living in and exploring a city. It offers next-gen technology that blends practicality and performance: its electric drivetrain is staggeringly quick, quiet, and it features a high-performance removable battery that can be charged at home with a standard outlet. P1 is modular and can adapt to carry cargo, spare batteries and even a speaker. It is fully connected, with an onboard automotive-grade computer and remote app for convenience and security. The vehicle can seat two passengers comfortably and can be operated for up to speeds of 30 mph with a standard driver’s license in the US. With a motorcycle license, a software unlock enables speeds of up to 55 mph.
Picnic Works, Inc., a Pioneer in Food Production Automation, Secures $5M to Scale Production and Growth Across North America
Picnic™, the leader in food production automation, announced it has raised $5 million in a funding round led by Cercano Management, with participation from new investor Unlock Venture Partners, as well as existing investors Thursday Ventures, Flying Fish Ventures, and Creative Ventures.
This new round of funding will support Picnic’s mission to enhance customer productivity and help businesses in various industries embrace automation for increased efficiency. The capital will be used to scale operations, ramp up production, accelerate delivery capabilities, and meet increasing demand for its innovative food automation solutions across North America.
Voze secures $12M in Series A funding to supercharge field sales teams in industrial, manufacturing, and construction
Voze, the leading sales solution dedicated to empowering sales professionals in graycollar industries, announced it has raised $12 million in a Series A funding round. The round was co-led by Origin Ventures and Mercury, with participation from previous investors, including AlbumVC and Pipeline Capital Partners. This funding brings Voze’s total capital raised to date to $15 million.
The new capital will be used to strategically expand Voze’s product and engineering teams, enabling the company to enhance and accelerate its solution and further increase user engagement. Driven by its simplicity, Voze has achieved an impressive 75%+ average user adoption rate. Sales reps easily introduce Voze into their daily routines with virtually zero friction or integration hassles.
Beyond Aero Raises $20 Million for Its Hydrogen-Electric Private Jets
Aerospace startup Beyond Aero has raised a $20 million funding round, a vote of confidence from investors that the French company’s vision to make hydrogen-powered electric jets for companies and the ultrawealthy will be a moneymaker. Giant Ventures and French sovereign fund Bpifrance co-led the Series A financing round, which also included capital from venture firms Initialized Capital, Female Founders Fund and 7 Percent Ventures. Beyond Aero participated in the Y Combinator startup accelerator program in 2022.
How Advex creates synthetic data to improve machine vision for manufacturers
Advex’s formal launch at TechCrunch Disrupt 2024 has already secured a handful of customers through its stealth phase. This includes what it calls “seven major” enterprise clients, which it says it’s not at liberty to disclose. TechCrunch can also reveal that the San Francisco-based startup has raised $3.6 million in funding, the bulk of which came via a $3.1 million seed tranche last December, with notable backers including Construct Capital, Pear VC, and Laurene Powell Jobs’ Emerson Collective.
Potential customers include legacy developers of machine vision systems, along the lines of Cognex or Keyence, which are striving to bolster their products with better AI. But on the other side, Advex might sell directly to the end-user businesses, such as car manufacturers or logistics companies building their own in-house tooling. But the real secret sauce is in the company’s proprietary diffusion model, similar to something like Midjourney or Dall-E, and is what’s used to create the synthetic data. “That one is custom, and is highly complicated — that’s where we put all of our effort,” Pachuca added.
Investing to bring the Waymo Driver to more riders
Today, we’re excited to announce that we’ve closed an oversubscribed investment round of $5.6 billion, led by Alphabet, with continued participation from Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. With this latest investment, we will continue to welcome more riders into our Waymo One ride-hailing service in San Francisco, Phoenix, and Los Angeles, and in Austin and Atlanta through our expanded partnership with Uber. We’ll also continue advancing the Waymo Driver — our AI-powered autonomous driving system — to support a variety of business applications over time.
Simbe Raises $50 Million in Series C Funding Led by Growth Equity at Goldman Sachs Alternatives
Simbe, a leading provider of Store Intelligence™ solutions, announced the closing of a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives (“Goldman Sachs”), with participation from Eclipse and Valo Ventures and other existing investors. Since raising its Series B in July 2023, Simbe has achieved significant momentum and milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors. The new capital, which brings the total amount raised by Simbe to over $100 million, will be used to meet surging demand for retail technology across retail verticals, expand into new product areas, and continue scaling its best-in-class solutions to retailers and brands around the world.
Outrider Closes $62 Million Series D Financing to Drive Growth of Yard Automation
Outrider, the leader in autonomous yard operations for logistics hubs, has raised $62 million in an oversubscribed Series D financing round. The round was led by Koch Disruptive Technologies (KDT) and New Enterprise Associates (NEA), with additional investments from 8VC, ARK Invest, B37 Ventures, FM Capital, Interwoven Ventures, NVentures (NVIDIA’s venture capital arm), and Prologis Ventures. This funding will drive the commercial scaling of Outrider’s autonomous yard operations as a service with Fortune 500 customers in 2025 and solidify its position at the forefront of logistics automation.
With over $250 million in equity capital raised to date, Outrider is working closely with customers to launch and scale autonomous yard operations as a service across industries such as package shipping, retail and eCommerce, consumer packaged goods, and automotive. Since 2019, Outrider’s customers, representing over 20 percent of all yard trucks in operation in North America, have been actively involved in product testing and pilot deployments, highlighting their commitment to reinventing yard operations.
Hydrosome Labs Secures $3.7 Million in Seed Funding to Expand Sales and R&D
Hydrosome Labs, a pioneer in the nascent field of ultrafine bubbles, announced $3.7 million in seed funding to scale its operations, expand sales efforts, and continue to innovate.
The patented process that creates Hydrosome H2O delivers active ingredients to cells more efficiently and completely. Commercial uses include improving nutrient uptake in skincare, driving more efficient and sustainable processes for precision fermentation, delivering faster, longer-lasting, enhanced hydration in performance drinks, and helping plants grow faster and healthier with less fertilizer.
At its core is a new process leveraging established science to improve the ability of water to deliver active ingredients to cells more effectively and efficiently. How does it work? A common occurrence in water is the formation of bubbles, which create a structure that traps gases. But not all bubbles are created equal. About 30 years ago, scientists began to investigate the formation of very tiny bubbles in water, sometimes called ultrafine bubbles. These bubbles, invisible to the naked eye and among the smallest ever detected, have unique properties. Hydrosome’s ultra-fine bubbles, “Hydrosomes,” have characteristics no other water technology has.
Adden Energy Raises $15M to Expand Accessibility of Electric Vehicles
Electric Vehicle (EV) adoption is one of the most meaningful steps an individual can take to combat climate change. Yet, current battery performance is holding back many consumers from electrification. Beyond the issue of range, EV batteries are slow-charging, have short lifetimes, and are intrinsically dangerous systems. Adden Energy has developed lithium-metal solid-state battery technology that solves these issues. To scale production and bring this technology to car manufacturers, the company has raised $15M in a Series A round led by At One Ventures.
The funding, led by At One Ventures with participation from Primavera Capital Group, Rhapsody Venture Partners, and MassVentures, will be used to construct a roll-to-roll pilot line production facility at Adden Energy’s headquarters in Waltham, MA. The company has already demonstrated technology that can deliver the world’s fastest lithium metal battery in EV-compatible, commercially acceptable pouch cell form-factors. This Series A funded production line will enable them to scale the size of the batteries 100x.
Adden Energy’s next-generation batteries are on track to reach the ambitious goal of EV parity with internal combustion engines by 2028. Based on solid-state battery technology originally developed at Harvard, Adden Energy combines two technologies that have long been goals of the EV industry – lithium metal and fast charging.
Dunia Innovations scores $11.5M for its ‘self-driving lab’ to speed up discovery of new materials
Dunia Innovations, a Berlin-based deeptech startup specialising in AI-driven material discovery, has secured $11.5 million in funding co-led by French VC Elaia (which recently invested in Qantev and dottxt) and Swiss VC redalpine (which recently backed Basecamp Research and Legalfly). Other backers included the EIC, Pace Ventures, Kindred Capital, Deep Science Ventures, Anglo American, and industry expert angels.
The German startup is using AI-driven technology and its automated lab to speed up the discovery of advanced materials. The company aims to reduce the time it typically takes to develop new materials, which can often be decades. This is part of a broader focus on helping the clean energy transition. By 2050, the global market for electrochemical technologies, which play a key role in energy storage and conversion, is projected to reach $1.5 trillion. Dunia’s approach is intended to accelerate innovation in this field, contributing to the advancement of clean energy solutions.
Traditional chemical research relies on slow and inefficient “design, make, test, analyse” (DMTA) cycles. Dunia rethinks this process using advanced chemical-robotic workflows and proprietary quantum chemistry-derived material representations. These representations together with their in-house proprietary datasets give Dunia’s machine learning (ML) systems a competitive edge over other black-box ML approaches, allowing for faster material discovery.
Kraken Robotics Completes $51.75 Million Bought Deal Public Offering
Kraken Robotics Inc.(TSXV: PNG, OTCQB: KRKNF) is pleased to announce that it has closed its previously announced “bought deal” short form prospectus offering of common shares of the Company (“Common Shares”). A total of 32,343,750 Common Shares were sold at a price of $1.60 per Common Share for gross proceeds of $51,750,000, inclusive of the full exercise of the over-allotment option by the Underwriters (as defined below).
The net proceeds of the Offering are expected to be used to advance the Company’s long-term strategy, including: (1) investing in expanded facilities and increased manufacturing capacity; (2) providing flexibility to take advantage of opportunities for accretive acquisitions of complementary technologies and businesses; (3) increasing the Company’s attractiveness as a stable and reliable long-term supplier; (4) strengthening the Company’s balance sheet to provide additional working capital to meet customer requirements in connection with potential additional large orders, as well as new program and contract opportunities; and (5) for general corporate purposes.
Achieve Partners Invests in Procurement and Supply Chain Services Leader RiseNow
Achieve Partners announced an investment in RiseNow, a boutique advisory and strategy firm focused on procurement and supply chain. The investment is the latest in Achieve’s unique workforce fund which identifies high-growth companies in fields facing severe talent shortages and builds apprenticeship programs to close those gaps and accelerate growth.
RiseNow was one of the first implementation partners of leading platforms like Coupa, JAGGAER, SAP Ariba, and Tecsys, and is currently investing in building an intake and orchestration practice. They are also a pioneer in inventory management, point-of-use, and warehouse management, especially in healthcare, so hospitals and clinicians have sustainable, reliable, and efficient access to what they need to provide the best patient care. Achieve’s investment will also enhance and propel RiseNow’s capabilities in these already-established areas.
Speckle Raises $12.5 Million to Build The First AEC Data Hub
With incredible support from our previous investors Foundamental, Frontline Ventures, Matrix Partners, and Foreword, plus the addition of dbt Labs’ Tristan Handy, we’re more motivated than ever to push the boundaries of what’s possible in AEC.
What started as a Grasshopper plugin for sharing 3D models has grown into a centralised platform that helps teams collaborate, manage data, and automate tedious tasks—all in one place, in what we like to call the first AEC data hub.
Nimble Closes $106 Million Series C Funding Round, Scales Fully Autonomous Fulfillment with FedEx
Nimble, a pioneering AI robotics and autonomous e-commerce fulfillment technology company, announced the successful closure of a $106 million Series C funding round elevating the company to a $1 billion valuation.
The funding round was led by FedEx and co-led by existing shareholder Cedar Pine LLC. As part of their strategic alliance, FedEx has entered into a commercial agreement to scale its FedEx Fulfillment service using Nimble’s technology and fully autonomous 3PL model. The investment underscores FedEx’s confidence in Nimble’s groundbreaking technology and its commercial potential.
The new capital will be strategically deployed to scale robot manufacturing and system deployments while enabling further investments in R&D towards Nimble’s mission of inventing autonomous logistics.
Zetes invests in Autonomous Mobile Robots company Robotize
Zetes, a leading specialist in supply chain execution solutions and part of the Panasonic Group, has invested in Robotize, a Danish robotics company known for its cutting-edge Autonomous Mobile Robots (AMRs) to reach a stake of 50%, alongside its founding shareholders. This strategic move allows Zetes to conceive and develop comprehensive solutions to address the need for more efficiency in the logistics industry, facing major challenges such as labour shortage.
Zetes and Robotize, with its team of experts in mechanics, electronics, and above all, software, will create innovative solutions that combine advanced mobility, safety, and supply chain execution applications. This will drive greater efficiency and productivity in logistics operations while enhancing the overall human workforce and overcoming growing challenges such as labour shortages.
Carbon Ridge Closes $9.5M Investment to Accelerate Decarbonization of the Maritime Shipping Industry
Carbon Ridge, Inc., a leading developer of modular onboard carbon capture & storage solutions for decarbonizing the maritime shipping industry, announced it has raised $9.5M in funding, bringing the company’s total funding to date to $15.5M. The round was led by Crosscut Ventures and Western Technology Investment (WTI), with participation from existing investors The Grantham Foundation, Berge Bulk, Rusheen Capital Management and Plug and Play Ventures. Katapult Ocean, Incite, Spitzer Industries and Canopy Generations Fund also participated in the round.
With this investment, Carbon Ridge will advance the commercial demonstration of its patent-pending onboard carbon capture & storage solution (OCCS). Carbon Ridge’s system uses a novel reactor designed for process intensification of carbon capture, enabling a 75% reduction in footprint when compared to conventional CO2 capture technologies while limiting additional energy consumption to <5%. In addition to capturing CO2, Carbon Ridge’s OCCS technology eliminates over 99.9% of particulate, NOx and SOx emissions. Such performance translates into an ~5x cost reduction versus alternative fuels such as methanol and ammonia.
Paccurate Raises $8.1M Series A to Lead the Future of Packing Intelligence for Retailers and Shippers
Paccurate, the packing intelligence platform for parcel shippers, announced the closing of an $8.1 million Series A funding. The round was led by High Alpha, with participation from Tech Square Ventures, Grand Ventures, HPA (Hyde Park Angels), Las Olas Venture Capital, Springtime Ventures and Royal Street Ventures.
As e-commerce continues to grow, and pressure mounts for companies to reduce shipping costs and hit environmental, social and governance (ESG) goals, Paccurate’s patented technology enables smarter packing decisions for businesses that both lower costs and enhance sustainability efforts. Using the packing intelligence platform, companies like Daily Harvest, Our Place and Barrett Distribution Centers have reduced Scope-3 emissions, seen up to a 15% reduction in shipping costs and cut corrugate usage by 14%.
Paccurate’s patented technology includes a lightweight API that suggests the optimal packing solution for every shipment. Shippers can also leverage PacSimulate, a powerful analysis tool that identifies ideal carton mixes or other packaging types, and measures the impact of changes to warehouse automation. The complete platform lowers shipping costs, reduces waste and ensures compliance with emerging regulatory requirements for packing efficiency.
Globality Raises $47 Million to Accelerate Growth of Its Industry-Leading AI-Powered Autonomous Sourcing Software
Globality, the market leader in AI-driven sourcing and procurement, announced that it raised $47 million in a Series D-1 and Series D-2 preferred stock offering. The offering was supported by the company’s existing preferred shareholders and new investors, including Rollins Capital, and brings the total capital raised by Globality to $356 million.
Founded almost ten years ago as a native AI company to revolutionize how large enterprises manage spend, source suppliers, negotiate lower costs, and evaluate performance, Globality’s Fortune 500 customers include Fidelity, Santander, British Telecom, Tesco, IQVIA, T. Rowe Price, Invesco, Hewlett Packard, Dropbox, and Allegis Global Solutions. By deploying Globality’s platform, companies reduce costs by 10% – 20% across all their spend, while capturing 60% – 90% operating efficiencies and achieving better business outcomes.
Turnover Labs Announces $1.4M in Funding to Decarbonize the Chemical Industry
Turnover Labs, an early-stage, NYC-based start-up that aims to decarbonize the chemical manufacturing industry and change the way the world produces petrochemicals announced that it has closed a $1.4 Million Pre-Seed funding round. Pace Ventures and GC Ventures are co-leads along with Sandy Spring Climate Partners and a select handful of other leading VC firms.
Turnover Labs leverages proprietary technology pioneered and developed at Columbia University to convert “dirty” CO2 produced in chemical manufacturing – and released into the atmosphere – into valuable chemical building blocks. Founded in 2022, Turnover’s innovative electrolysis technology will allow chemical companies to produce their products without relying on petroleum feedstocks. Research indicates that chemical manufacturing accounts for more than 2 billion tons of CO2 emissions every year; and a majority of these emissions have no current technical solutions for reduction, avoidance, or capture.
Redaptive Secures $100 Million to Accelerate Global Decarbonization Initiatives
Redaptive, a leading Energy-as-a-Service (EaaS) provider, announced it has secured an additional $100 million equity investment from the Canada Pension Plan Investment Board (CPP Investments). This strategic capital infusion will support Redaptive to accelerate its growth in projects and enhance its service offering to better serve its rapidly growing customer base and ecosystem of energy performance developers and contractors in their growing demand for decarbonization and drive significant progress toward their net-zero goals.
Redaptive empowers organizations to accelerate their sustainability, energy efficiency, and carbon reduction goals with ease and at scale. Specializing in large Commercial & Industrial companies, Redaptive offers a comprehensive solution that manages every aspect of long-term energy efficiency programs, from diagnostics and project development to funding, procurement, project management, and monitoring. These programs, typically spanning 5 to 15 years, are delivered at no upfront cost to customers through a shared savings model, where Redaptive shares in the savings achieved from reduced energy consumption. Additionally, Redaptive’s proprietary metering technology provides customers with real-time, asset-level energy data, helping them gain deeper insights and control over their energy use.
Infinity Recycling, LyondellBasell, and CPChem invest in Alterra to Accelerate the Commercial Development of Advanced Recycling
Alterra, a leader in plastic circularity process technology, announced the first closing of its latest equity investment round with funding from Infinity Recycling, LyondellBasell and Chevron Phillips Chemical. This investment round will accelerate the commercialization of Alterra’s Advanced Recycling technology, designed to transform discarded plastic into valuable raw materials, creating a more sustainable and circular economy. Infinity Recycling led the financing round via its Circular Plastics Fund. Alterra also received additional equity investments as part of this round from Finnish circular and renewable feedstock solutions partner Neste and long-term private investor Potenza Capital.
Alterra’s innovative technology converts discarded plastic into valuable resources, reducing landfill dependence and supporting the transition to a circular economy. With this new funding, the company aims to deploy its solutions globally, reinforcing its commitment to sustainable plastics management.
$11M Series B funding for Conflux’s innovative 3D printed heat exchangers
Heat exchanger 3D printing specialist Conflux Technology has raised $11 million in Series B funding. Led by Breakthrough Victoria, with support from AM Ventures and Acorn Capital, this capital will accelerate the development of lighter, more efficient heat exchangers and improve customer support across key markets. By focusing on these developments, the company aims to help industries meet sustainability goals while reducing their environmental impact.
With the new funding, Conflux plans to accelerate the development of its Conflux Production Systems (CPS), an advanced manufacturing solution for producing additively manufactured heat exchangers. This automated system is designed to replace traditional manufacturing processes, streamlining production, improving efficiency, and minimizing supply chain risks. Industries such as motorsports, defense, and e-mobility are expected to benefit significantly from these innovations.
Consequently, Conflux is also collaborating with Odys Aviation highlighting the company’s role in advancing next-generation aerospace technology. Together, they are working on a heat recuperator turbogenerator system that could reduce fuel consumption by more than 40%.
DOE Grant Supports Bridgestone Innovation for Non-fossil-based Synthetic Rubber
Bridgestone Americas (Bridgestone) announced it received a grant from the U.S. Department of Energy (DOE) Industrial Efficiency and Decarbonization Office. Bridgestone will design, build and operate a pilot plant that will advance an innovative, potentially more sustainable and cost-effective approach to obtaining butadiene from ethanol. The project will evaluate the economic and commercial viability, as well as the carbon footprint, of converting ethanol to butadiene.
The company plans to utilize the butadiene produced to further study and confirm the potential use as a feedstock for raw materials in Bridgestone tires. Bridgestone has partnered with Pacific Northwest National Laboratory, or PNNL, for this project. The process will utilize and scale an innovative and proprietary catalyst system originally developed by PNNL and further co-developed through research activities with Bridgestone. It is this unique catalyst combined with Bridgestone’s innovative process engineering that holds the promise of establishing a commercially viable new way of thermochemically converting ethanol to butadiene.
China's Horizon Robotics raises $696 mln in biggest Hong Kong IPO of 2024
Chinese autonomous driving firm Horizon Robotics has priced its shares at the top of its range to raise HK$5.4 billion ($696 million) according to a term sheet seen by Reuters, making it the biggest Hong Kong initial public offering this year. The company sold 1.355 billion shares in a price range of HK$3.73 to HK$3.99 each, according to the company’s filings.
Freeform Secures Investments from NVIDIA's NVentures and AE Ventures to Bring AI to Metal 3D Printing
Freeform, a trailblazer in AI-driven metal 3D printing founded by former SpaceX engineers, announced a major investment from NVIDIA’s NVentures and AE Ventures. This investment signals the dawn of a new era in advanced manufacturing, where artificial intelligence and hardware-accelerated computing converge to fundamentally redefine metal production for industries ranging from aerospace to automotive.
As part of this investment, Freeform will join NVIDIA Inception, a program that supports cutting-edge startups, and will leverage NVIDIA’s accelerated computing platform to supercharge its existing AI-driven platform, which provides real-time predictive control over the complex physics of the metal 3D printing process. This approach unlocks new possibilities in metal additive manufacturing that were previously unattainable using traditional methods.
Mitsubishi Electric, ME Innovation Fund Invests in Formic Technologies
Mitsubishi Electric Corporation (TOKYO: 6503) announced that its ME Innovation Fund has invested in Formic Technologies Inc., a U.S.-based startup company that designs, develops, and maintains industrial robots, offered through a subscription-based sales model. This is the eighth investment that the fund has made to date.
Through its investment in Formic Technologies, Mitsubishi Electric aims to develop a new business model that evolves its automation solutions into more accessible formats for its customers going forward.
BDev Ventures Announces Strategic Investment in Recyclops
BDev Ventures, a venture capital firm specializing in revenue acceleration for B2B software startups, announces a strategic investment in Recyclops, a waste management platform that delivers accessible recycling solutions to more than one million households across the United States. Through this investment, Recyclops gains access to WinDifferent, BDev Ventures’ proprietary lead generation platform. The tool has helped the waste management platform access to growth opportunities and offer its services to new markets.
Recyclops works with communities and enterprises nationwide on landfill diversion initiatives. From bringing recycling to recycling deserts all the way to diverting difficult materials from landfills such as solar panels, diapers, and challenging plastics, Recyclops helps households and enterprises nationally to reduce, reuse, and recycle. With this innovative approach, Recyclops has significantly reduced national waste while opening up the circular economy.
Carbon Robotics Raises $70 Million Series D Investment Round
Carbon Robotics, a leader in AI-powered farming, announced that it has raised $70 million in Series D financing. The financing was led by new investor BOND with participation from existing investors NVentures (NVIDIA’s venture capital arm), Anthos Capital, Fuse Venture Capital, Ignition Partners, Revolution, Sozo Ventures, and Voyager Capital. This round brings total company funding to $157 million. As part of the financing, Mood Rowghani, general partner at BOND, will join Carbon Robotics’ Board of Directors.
This new funding round will help scale Carbon Robotics’ LaserWeeder™ business, introduce new software and hardware products, and expand state-of-the-art manufacturing capabilities in Eastern Washington. It will also support the company’s growth in new markets and continue its geographic expansion into Eastern and Southern Europe, as well as the Asia-Pacific region.
Phaseshift Technologies Closes US $3 (CA $4.1) Million Seed Financing to Design Next-Generation Materials Using AI
Phaseshift Technologies, an advanced materials company specializing in the development and commercialization of next-generation alloys and composites through its proprietary AI-powered computational platform, Rapid Alloy Design (RAD)™, announced the closing of a US $3 (CA$4.1) million seed financing round. The round was led by Innospark Ventures, with participation from Draper Associates and follow-on investment from First Star Ventures, which had previously contributed to Phaseshift’s pre-seed round. Additional support came from angel investors through Hustle Fund Angel Squad.
The funding will enable Phaseshift to accelerate the development and commercialization of new materials addressing critical industrial challenges across a wide range of sectors, including aerospace, automotive, mining, energy, and advanced manufacturing.
SpaceX prevails over ULA, wins military launch contracts worth $733 million
The US Space Force’s Space Systems Command announced it has ordered nine launches from SpaceX in the first batch of dozens of missions the military will buy in a new phase of competition for lucrative national security launch contracts.
The nine launches are divided into two fixed-price “task orders” that Space System Command opened up for bids earlier this year. One covers seven launches with groups of spacecraft for the Space Development Agency’s constellation of missile tracking and data relay satellites. The other task order is for two missions for the National Reconnaissance Office, the US government’s spy satellite agency.
While Blue Origin is on the Space Force’s list of available launch providers, the company’s New Glenn rocket was not eligible for the contracts. That’s because military officials require a rocket to complete at least one successful orbital launch to become qualified for a Lane 1 task order. New Glenn’s first test flight is scheduled some time later this year.
Italy’s BeDimensional secures €20M from EIB to produce graphene and other 2D materials
Genova, Italy-based BeDimensional, a producer of Few-Layer Graphene (FLG) and Few-Layer Hexagonal Boron Nitride (FLhBN or FLB), announced that it has secured €20M in venture debt financing from the European Investment Bank (EIB). The Italian company will use the funds to increase its capacity to produce two-dimensional crystals more than tenfold to over 30 tonnes a year by 2028.
BeDimensional’s patented process produces FLG and FLhBN with atomic-level thickness, the highest quality on the market, which can easily be integrated into any material to enhance performance and durability. The company aims to increase the production of these two-dimensional crystals for industrial use at competitive costs to revolutionise manufacturing with more efficient and sustainable materials.
Solubag USA, Inc. Announces Strategic Investment by Exit Ventures to Accelerate Global Expansion and Revenue Growth
Solubag USA, Inc. (“Solubag”) announced new funding led by Exit Ventures, a premier venture capital firm based in Utah, to accelerate the company’s global expansion and drive substantial revenue growth.
Solubag has patented its revolutionary, proprietary formula to produce film bags (such as grocery or shipping-envelope bags), non-woven fabric bags, pet waste bags, bubble-wrap, laundry sheets, and firmware (such as utensils, straws, plates, cups, etc.) When Solubag’s products are discarded, they require no recycling or separation from other forms of waste, as they dissolve completely and harmlessly in water or soil in a few weeks to a few months.
HEN Nozzles Secures $8M in Funding to Revolutionize Fire Suppression Technology
HEN Nozzles, a leader in firefighting innovation, announced it has secured $8 million in seed funding to accelerate its fluidics technology which extinguishes fires 300% faster while using 67% less water. With wildfires and structure fires intensifying globally and firefighting technology stagnating for decades, this funding will drive the development and deployment of the company’s groundbreaking fire suppression solutions.
The company’s patented adjustable smoothbore nozzle allows firefighters to dynamically modulate the water stream to adapt to different fire conditions. This innovation not only ensures faster fire suppression but also minimizes water usage, helping fire departments conserve resources while improving safety. By lowering water waste and decreasing property damage, HEN’s technology offers an effective and sustainable solution for both firefighting teams and the environment.
Following funding from a National Science Foundation SBIR Federal Grant received at the company’s inception, this seed round has been supported by several venture capital and strategic angel investors including O’Neil Capital Partners, Cthulhu Ventures, Z21 Ventures, TiE Silicon Valley Angels, Sacramento Angels, and Shasta Angels.
Former watch trader is now building the AWS of grid storage, Terralayr
Man’s alternative, which has taken shape as a startup called Terralayr, is a twist on the virtual power plant, what experts call it when energy traders aggregate batteries and manage their use. He said Terralayr, which he also co-founded with Wurlitzer, is similar to AWS, Amazon’s cloud service that aggregates computing resources and sells fractions of them. “We aggregate grid-scale energy storage assets, we bundle them, we virtualize them, and then we sell off the capacity between 15 minutes and 15 years,” Man said.
AWS transformed enterprise computing, allowing companies to run servers without owning hardware and quickly scale them as needed. In some ways, virtual power plants do the same. Owners of grid-scale batteries can sell their capacity to traders, who then aggregate that capacity to the point where it makes sense to play in large electricity markets.
Terralayr also manages batteries, both its own and those of others, but Man said the difference is that it doesn’t function as a trader, but something more like an exchange. “Our pitch is like, we’re not traders. We don’t trade at all. In fact, we will just find the best buyer for your capacity.”
The startup charges battery owners a “small percentage” fee based on revenues. If Terralayr can operate the battery more profitably than a competitor, it will also take a portion of the upside. (How is that determined? Man said the company uses a model, built in part using previous bids from its own customers, that predicts what a typical trader would do.)
To fund the expansion, Terralayr has raised €62 million in equity and €15 million in debt from investors, including Creandum, Earlybird, Norrsken VC, Picus Capital, and Rive Private Investment. “I wouldn’t call it seed round, but that’s technically what it is,” Man said, adding that “seed would wrongly suggest the earliness of the business.”
LPO Announces Conditional Commitment to Aspen Aerogels to Produce Aerogel Blankets and Improve Electric Vehicle Battery Safety
As part of the Biden-Harris administration’s Investing in America agenda, the Department of Energy’s (DOE) Loan Programs Office (LPO) announced a conditional commitment for a direct loan of up to $670.6 million to Aspen Aerogels Georgia, LLC (Aspen Aerogels). The loan, if finalized, will help finance the construction of an aerogel blanket manufacturing facility in Register, Georgia. Aspen’s PyroThin® aerogel thermal barriers are used as a protective layer within electric vehicle (EV) batteries, enabling EV manufacturers to achieve critical battery safety goals.
Operating at full capacity, the Georgia factory is expected to supply thermal barriers for over 2 million vehicle batteries annually. The incremental fuel savings is equivalent to removing over 5,000 internal combustion engine vehicles from the road each year and enables a reduction of over 8,000 tons of carbon dioxide equivalent annually. The facility would significantly expand EV thermal barrier manufacturing capacity in North America, helping to reinforce the domestic EV supply chain while delivering new economic opportunities for workers in Georgia. This project also supports the Biden-Harris administration’s efforts to expand and secure reliable, environmentally sustainable domestic supply chains key to reaching the country’s ambitious climate goals while reducing reliance on economic competitors like China.
Aspen’s PyroThin® platform offers ultra-thin and lightweight thermal barriers designed to slow or prevent thermal runaway propagation, a rare event in which a battery cell overheats and triggers neighboring cells, possibly resulting in a fire. PyroThin® is designed to offer a unique combination of thermal management, mechanical performance, and fire protection properties. In the event a battery cell fails, PyroThin® protects neighboring cells from being thermally triggered to avoid a significant fire.
Forge Nano Receives $10M Investment from GM Ventures to Pursue GM Battery Material Enhancements for Future Electric Vehicles
Forge Nano, Inc., a materials science company that uses its Atomic Armor™ Atomic Layer Deposition technology to optimize material performance to enable better products, announced a $10M investment from GM Ventures, the venture arm of General Motors (NYSE: GM). The investment adds to its previous $50 million Series C with participation from Hanwha (KRX: 000880), Orion Infrastructure Capital (NYSE: ORN), Catalus Capital and Ascent Funds. The company has raised more than $100 million to date with additional investments from Volkswagen (OTC: VWAGY), Mitsui Kinzoku (OTC: MMSMY), LG Technology Ventures (KRX: 003550), Sumitomo Corporation of Americas (OTC: SSUMF), Air Liquide (OTC: AIQUY) and SBI Investment (OTC: SBHGF).
The GM Ventures investment positions Forge Nano to further enhance its Atomic Armor platform technology, which allows for the application of thin coatings to the surface of materials or objects to enhance the underlying substance’s performance and durability. Forge Nano intends to continue to expand its battery material coating business, which includes in-house active material coating services, external equipment sales and production of Atomic Armor-powered battery cells, as well as expand its footprint in semiconductors.
Motion Controls Robotics Secures Funding to Pursue Strategic Acquisitions
Motion Controls Robotics, Inc., a leader in robotic automation solutions, is pleased to announce secured funding from Signature Bank NA, based in Toledo, Ohio. This funding marks a significant step in MCRI’s growth strategy, aimed at expanding its capabilities and offering more advanced automation solutions for businesses in key industries.
With this funding, MCRI is actively pursuing acquisition opportunities with automation integrators, custom machine builders, or controls engineering companies in the Eastern U.S., particularly around the Philadelphia, PA, and Charlotte, NC areas. These companies specialize in packaging or material handling and have revenues up to $10M. MCRI’s goal is to integrate complementary expertise, broaden its service offerings, and create added value for customers looking to enhance their production efficiency.
Horizon Surgical Systems Raises $30 Million in Series A Financing
Horizon Surgical Systems, Inc., a privately-held, micro-robotics company advancing microsurgery with automated AI-enabled robotics, announced the close of a $30M Series A financing. The financing was led by ExSight Ventures and a major corporate investor, with participation from Main Street Advisors and University of California (UC Investments), amongst others.
The proceeds will advance the development of Horizon’s novel technology platform, progressing to first in human studies, and further building out the team. Horizon’s Polaris will transform eye surgery by leveraging state-of-the-art robotics, advanced medical imaging, and AI to extend the capabilities of surgeons beyond their current limitations. Horizon’s assistive surgical robotics promise to deliver outstanding outcomes while enhancing access to care.
Amazon Invests in X-energy to Support Advanced Small Modular Nuclear Reactors and Expand Carbon-Free Power
X-Energy Reactor Company, LLC (“X-energy”), a leader in advanced nuclear reactor and fuel technology, announced a Series C-1 financing round of approximately $500 million, anchored by Amazon.com, Inc. (“Amazon”). The investment will help meet growing energy demands by funding the completion of X-energy’s reactor design and licensing as well as the first phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee. Additionally, the funding will support future carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors (“SMRs”). Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation (“Ares”), NGP, and the University of Michigan join Amazon’s Climate Pledge Fund in the financing round.
Amazon and X-energy are also collaborating to bring more than 5 gigawatts of new power projects online across the United States by 2039, representing the largest commercial deployment target of SMRs to date. The efforts will help meet growing energy demands in key locations through direct project investments and long-term power purchase agreements to help power Amazon operations. Further, X-energy and Amazon plan to establish and standardize a deployment and financing model to develop projects in partnership with infrastructure and utility partners.
The companies will initially support a four-unit 320-megawatt (“MW”) project with regional utility Energy Northwest in central Washington with the option to increase that project to 12 units and 960 MW. Amazon is immediately committing a direct investment in the Energy Northwest project to fund early development work that X-energy will perform.
Supply Chain Automation Startup BackOps.ai Secures $2M in Pre-Seed Funding led by Gradient
BackOps.ai, an AI-driven platform for automating supply chain logistics and acting as the central nervous system for operations, announced a $2 million pre-seed funding led by Gradient, Google’s early-stage AI fund, with participation from 10VC.
BackOps.ai provides supply chain customers with a frictionless way to adopt AI into existing workflows—providing automation learned from their data in a way that previously required a backend engineer. Delivering operational efficiency and savings at scale, BackOps.ai’s simple interface and plain-text commands allow companies to harness the full power of existing global supply chain tech stacks.
Mindtech Global secures £4.4M funding to power the future of Computer Vision System Training
Mindtech Global, a leader in developing AI powered vision dataset analysis and synthetic data creation platforms for AI vision systems, has secured £4.4M in a funding round led by Edge and including Mercia Ventures, investing from its own funds and the Northern Powerhouse Investment Fund. This funding comes at a pivotal time, as Gartner forecasts that by 2025, synthetic data will account for the majority of data used in AI training due to growing concerns about data scarcity.
The investment will allow Mindtech to leverage and enhance its unique platforms which minimise costs and time to market by generating actionable intelligence from their dataset analysis platform, Dolphin. This understanding of key dataset deficiencies such as sparsity, diversity and bias enables the creation of optimised synthetic datasets for efficient, effective training.
The company will also accelerate its presence in key markets such as Japan, the US, and Europe, scaling its sales operations globally, and continue partnerships with industry leaders to deliver cutting-edge AI vision solutions.
SuperLight Photonics secures funding to accelerate expansion of its laser technologies
Overijssel-based SuperLight Photonics, a Dutch innovator in laser technology, has announced a strategic investment from Hamamatsu Ventures. Hamamatsu Ventures, a global corporate VC firm, seeks to invest in photonics companies that address future societal needs through disruptive technologies. This partnership is expected to accelerate the development of SuperLight Photonics’ next-generation photonic technologies and enhance its presence in the global market.
SuperLight Photonics plans to use the funds to expand its team, increase production capacity, and enhance innovation across its product portfolio. The company also aims to enter new geographic markets and strengthen partnerships with global distributors, OEMs, and key industry players.
Agtonomy Closes $32.8M Series A to Accelerate AI-Driven Automation in Agriculture and Expand into Autonomous Industrial Equipment
Agtonomy, the pioneer in AI-enabled automation software for agriculture and land maintenance, has raised an additional $10M to close its Series A round, bringing total funding to $32.8M. This significant investment, combined with Agtonomy’s commercial offerings and scalable business model, positions the company for accelerated growth and market expansion over the next few years. Autotech Ventures, the leading mobility venture fund, led the round. New investors include Rethink Food, Allison Transmission, and Black Forest Ventures. Existing backers Toyota Ventures, Flybridge, and Cavallo Partners continued their support.
Agtonomy’s immediate growth plans include scaling its West Coast technical team into new markets, expanding its 2025 paid pilot program for permanent crops by 500 percent, and developing technology solutions for other industrial markets that seek world-class automation to improve margins.
DeNexus Secures $17.5 Million in Series A Funding to Revolutionize Cyber Risk Management for Industrial Environments
DeNexus, a leader in end-to-end cyber risk management for operational technology (OT), announced it has raised $17.5 million in a Series A funding round, positioning DeNexus to accelerate its growth and expand its innovative product offerings and markets.
The funding round was led by Punja Global Ventures, with investment also from AXA XL, Prosegur/SegTech and HCS Capital. As part of this investment, Rimmo Jolly, co-founder at Punja Global Ventures, will join DeNexus’ Board of Directors, while Libby Benet, Global Chief Underwriter Officer at AXA XL, will join as a Board Observer. With this new funding, DeNexus is well-positioned to address the growing need for comprehensive cyber risk management in industrial environments, helping organizations navigate the complex landscape of cybersecurity threats and regulations.
DeNexus has demonstrated significant traction, with its solutions currently deployed at over 200 sites across the USA, UK, and Europe. Building on its product offering from the initial customers in the power electricity sector, the company has also successfully implemented its technology with a top data center hyperscaler, as well as a global manufacturer, and has secured contracts to serve one of the world’s largest airport owners and operators. The company is contributing to the cyber risk management of these critical activities and infrastructures at the backbone of our civilization.
Beacon AI Secures $15M in Series A Funding to Bring AI into Flight Decks
Beacon AI, a Silicon Valley-based aviation intelligence startup, announced it raised $15 million in Series A funding, led by Costanoa Ventures, with significant participation from Scout Ventures, joining numerous new and existing investors including Sam Altman, and JetBlue Ventures - raising the total venture funding to $20M.
Beacon is on a mission to put AI assistance in every professional flight deck to improve flight safety and efficiency for defense and commercial operators. Beacon is focused primarily on aircraft represented in the commercial market and their defense twins. The adaptable platform presents a dual-use opportunity by being able to serve both markets on similar aircraft. The Series A investment will allow Beacon to expand its team, deliver on existing DOD and commercial engagements, and accelerate the deployment of its flagship products: Murdock, an AI-powered pilot assistant akin to R2-D2 for pilots, and Lighthouse, its data platform and flight management system.
Equilibrium Energy Signs New Battery Tolls, Enters California, Celebrates Its Market-Leading Battery Management Performance, Welcomes New Executive Hires, and Closes Its Series B Fundraise
Equilibrium Energy, a technology company building a next-generation clean power company, announced its market entry into California; signing of new battery tolls with top tier developer Ormat; closing of a $39M Series B venture fundraising led by deep tech stalwart investor DCVC and including top tier institutional investors Breakthrough Energy Ventures and Valo Ventures; its market-leading battery management performance in Texas; and the hiring of industry veterans to join its executive ranks. The three-year old startup is combining the best of Silicon Valley technology with its deep experience in running competitive power companies to achieve its aim of accelerating society’s transition to clean energy.
Equilibrium has continued the growth of its battery tolling portfolio by adding two additional full offtake tolls with renewable energy developer Ormat. Equilibrium will take over operations of two 60 MW/120MWh Ormat projects in ERCOT in 2025.
Equilibrium also recently expanded into the California power market with its signing of an offtake toll for a 40MW/40MWh operating battery in July. Overall, Equilibrium now has 260MW / 380MWh of contracted battery tolls across ERCOT and CAISO. The company continues to build out its operational portfolio via its 6GW and growing battery tolling pipeline.
Monogoto Raises $27 Million in Series A Funding to Lead the Software-Defined Connectivity Revolution
Monogoto, the leading provider of software-defined connectivity solutions, announced that it secured a $27 million Series A funding round. The round was led by Toyota Ventures, with participation from Samsung Next, The ACTIVE Fund, Assembly Ventures, Magenta Venture Partners, and J-Ventures, as well as from existing investors who doubled down on their initial investment - including Triventures, Singtel Innov8 Ventures, Telefónica, Team8, and Alter Venture Partners. Monogoto has raised a total of $38 million to date.
Monogoto is a cloud-based, connectivity-as-a-service provider that simplifies device connectivity for enterprises and developers. By consolidating connectivity on a single platform, Monogoto offers resilient, API-driven, automated solutions that ensure high-quality service across public, private, and satellite networks. Monogoto lowers the barriers to device innovation with rich functionality, offering secure, accessible, and context-aware connectivity for sensors and devices. This enables customers to streamline operations and unlock the full potential of their physical products through software-defined connectivity.
Liminal Secures Strategic Investment from LG Technology Ventures To Expand and Accelerate Commercial Deployments
Liminal, a leading battery manufacturing intelligence company with a mission to accelerate the global adoption of electric vehicles and clean energy, announced that it has closed a $10M strategic investment round catalyzed by LG Technology Ventures, the venture capital arm of the LG Group. The round also included new support from Chailease Holdings as well as participation by current investors including ArcTern Ventures, University of Tokyo Edge Capital Partners, Good Growth Capital, Chrysalix Ventures, and Ecosystem Integrity Fund.
Liminal’s quality control solutions use ultrasound inspection and physics-informed data science to deliver powerful insights to battery cell manufacturers to accelerate production ramp-up, improve quality, and reduce scrap and costs. The company deployed its in-line inspection product in a European gigafactory late last year, has an active pilot with a major Asian battery cell manufacturer, and will be deploying with a US-based automotive OEM in the coming weeks.
RIFT secures 11 million euro investment
RIFT (Renewable Iron Fuel Technology), the spin-off from Eindhoven University of Technology that emerged from student team SOLID, has raised 11 million euros in new growth capital.
Pension investor PGGM (on behalf of Pensioenfonds Zorg en Welzijn), Invest-NL and Oost NL have stepped in as new investors. Existing shareholders Rubio Impact Ventures, Energietransitiefonds Rotterdam (ETFR) and the Brabantse Ontwikkelings Maatschappij (BOM) are also investing in this round to help scale up the start-up, which works on making industrial heat more sustainable via iron fuel technology.
This new investment will allow RIFT to take the next steps at test sites in Arnhem and Helmond. In addition, the investment will be used to secure the first commercial contracts. This is the final step before the commercial rollout of the technology.
EnviCore Successfully Closes Seed Round to Scale Low-Carbon Cementitious Technology
EnviCore, a Calgary-based leader in sustainable materials technology, announced the successful closing of its seed funding round, raising C$4.2 million. The round was led by prominent industry investors, including CSN Inova Ventures (the corporate venture capital arm of Companhia Siderúrgica Nacional, Brazil’s largest fully integrated steel producer), Heidelberg Materials, Techstars, Hillside Ventures, and Angel Investor Mark and Faye McGregor.
The funding will accelerate EnviCore’s mission to transform the cement industry by scaling the production of low-carbon supplementary cementitious materials (SCMs). EnviCore’s innovative technology reduces the carbon footprint of cement production by up to 30%, using recycled mineral feedstock. These SCMs can replace up to 35% of Portland cement in concrete, contributing to global sustainability and decarbonization efforts.
Path Robotics Secures $100M of Venture Capital Funding
Path Robotics continues to blaze the trail for tech and manufacturing in the US. Over the last 12 months, the artificial intelligence robotics startup has closed $100M in new investments led by Matter Venture Partners and Drive Capital, with participation from Yamaha Ventures, Taiwania Capital, MediaTek, Catapult Ventures, Gaingels, Addition, Tiger Global and Basis Set. Path Robotics has previously received venture backing from other prominent investors such as Drive Capital, Addition, Tiger Global, Basis Set, Lemnos, and SVB totalling $170M.
Path currently has two robotic welding products in the market. The AW-3 Robotic Welding Cell can handle large parts, as big as 70 feet long. The AF-1 Robotic Welding Cell can pick, fit, and weld parts without human intervention. Both robotic welding cells leverage vision systems, artificial intelligence, and machine learning to autonomously weld steel parts and are deployed in fabrication shops across the US and in Canada.
baCta secures €3.3 million to revolutionize natural rubber production
baCta, a startup making biosynthetic carbon-negative natural rubber produced using engineered microorganisms and renewable feedstocks, has successfully raised €3.3 millions in pre-seed funding. The round was led by OVNI Capital, and with participation from Kima Ventures, Sharpstone Capital, another.vc and prominent business angels such as Thibaud Elziere and members of the Hexa team and Nicolas Morin, co-founder of Gourmey.
baCta’s breakthrough technology leverages a synthetic organelles platform developed at INSERM, along with the ability to diversify sources of feedstock to decrease cost and obtain a negative carbon footprint. They also take advantage of the latest advances in lab automation, AI and protein modeling to collect proprietary data at an unprecedented pace, and process it to model organisms and bioreactors, enabling industrial bio-production.
Zap Energy attracts $130M in fresh capital as demo power plant system begins operations and aims for first milestone
Zap’s $130 million Series D was led by Soros Fund Management LLC, with participation by new investors that include BAM Elevate, Emerson Collective, Leitmotif, Mizuho Financial Group, Plynth Energy and Xplor Ventures. Current investors participating in the new round include Addition, Breakthrough Energy Ventures, Chevron Technology Ventures, DCVC, Energy Impact Partners, Lowercarbon Capital and Shell Ventures. The new funding will be used to continue parallel development of both plasma R&D and systems-level plant engineering and integration, including the next generation in the company’s FuZE device series and a cutting-edge pulsed power capacitor bank.
Century is the first fully-integrated demonstration of several fusion power plant-relevant technologies, including one of the largest tests of a plasma-facing liquid metal blanket to date. Century has already demonstrated a test run of more than 1,000 consecutive plasmas in less than three hours into a chamber lined with flowing liquid metal.
Zap Energy’s fusion approach, known as a sheared-flow-stabilized Z pinch, avoids large superconducting magnets and powerful lasers, and is far smaller than conventional systems. To generate net energy from fusion, regardless of the type of device, the plasmas inside must satisfy fusion’s triple product: they must be hot enough, and dense enough, for long enough. With a track record of rapid progress in plasma physics using two workhorse fusion devices, and recent results reinforcing the viability of the path ahead, Zap has begun work engineering new devices to face greater extremes and harness fusion’s energy output.
xFarm Technologies, the European leader in the digitalisation of the agri-food sector, raises €36 million
2024 marks a year of major growth for xFarm Technologies, the tech company that supports the work of more than 450,000 farms across more than 100 supply chains, covering 7 million hectares worldwide, through its Farm Management Information System (FMIS), the xFarm digital platform. After integrating Greenfield Technologies, a Spanish company focused on Regenerative Agriculture, and SpaceSense, a French brand specialised in Geospatial Artificial Intelligence, in April, an operation that cemented its position as a European leader in the digitalisation of the agri-food sector, xFarm Technologies has announced the closing of a €36 million Series C round.
The new round, which follows the €17 million Series B round in 2022 and the first €3 million round in 2019, was led by global technology investment firm Partech, through its Impact Growth Fund, which aims to scale European impact-native technology leaders seeking to solve environmental and social challenges. The round also saw the participation of Mouro Capital, a London-based venture capital firm targeting growth-stage fintech investment opportunities across Europe, North America, and Latin America. Swisscom Ventures, United Ventures and all previous institutional investors also participated in the round, demonstrating their confidence in xFarm Technologies based on its significant achievements over the past two years.
Altris Welcomes Clarios and Maersk Growth as New Investors in Series B1 Funding Round
The Swedish sodium-ion battery developer Altris has successfully raised SEK 150 million in a Series B1 funding round, introducing new investors such as Clarios and Maersk Growth. The financing will be used to finalize Altris’ pilot production facility, and thereby enable commercial production of sodium-ion cathode material for battery cells.
Altris has been on a rapid growth journey since its foundation in 2017, developing its patented cathode material, Altris Prussian White, as well as electrolytes, battery cells, and production blueprints for market-leading sodium-ion batteries. The new financing is a first tranche of a Series B funding round, which will enable the finalization of Altris’ pilot production facility and position the company to meet the demand for sustainable and cost-competitive batteries that are sourced in Europe.
The Series B1 round introduces new investors such as Clarios and Maersk Growth to the company’s list of owners, investing alongside the existing owners EIT InnoEnergy and Molindo. With these additions, Altris now has strategic investors representing its key target industry verticals: gridstorage, low voltage vehicle applications and marine applications.
Form Energy Secures $405M in Series F Financing to Expand Iron-Air Battery Business and Operations
Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced a $405 million Series F financing round led by T. Rowe Price. Also joining the Series F round is GE Vernova, along with existing investors TPG Rise Climate, Breakthrough Energy Ventures (BEV), Capricorn’s Technology Impact Funds, Coatue, Energy Impact Partners (EIP), MIT’s The Engine Ventures, NGP, Temasek, GIC, Prelude Ventures, Claure Group, Gigascale Capital, Blindspot Ventures, and VamosVentures. The Series F brings Form Energy’s total funds raised to date at over $1.2B.
In addition to participating in the Series F financing round, GE Vernova and Form Energy have signed a Memorandum of Understanding regarding areas of strategic collaboration to support Form Energy as it continues to ramp manufacturing operations and commercial deployments of its iron-air battery systems.
Blue Radix lands €5M to propel autonomous greenhouse solutions and sustainable horticulture
Blue Radix, a specialist in autonomous greenhouse solutions, has secured a €5M investment from Dutch-based Navus Ventures and Horticoop to accelerate its commercial growth. Horticoop, representing 300 greenhouse companies committed to enhancing the horticultural sector, aligns with Blue Radix’s mission by investing in solutions that promote increased yield and energy efficiency.
Blue Radix, a specialist in autonomous growing solutions, claims to have established itself as a market leader by developing AI-driven technology for greenhouse operations. The company’s Crop Controller offers integrated autonomous climate and irrigation control, enabling growers to optimise their crop strategies and reduce reliance on climate management systems by up to 80 per cent.
Molg Raises $5.5 Million in Seed Funding to Tackle Electronics Waste Through Circular Manufacturing
Molg Inc. announces the closing of $5.5 million in seed funding to scale the company’s circular manufacturing processes for electronics and electrical components. Closed Loop Partners’ Ventures Group led the round, with participation from Amazon Climate Pledge Fund, ABB Robotics & Automation Ventures, Overture, Elemental Impact and Techstars. The company plans to use funding to scale production capacity and meet growing customer demand for circularity and automation.
Molg is tackling the e-waste challenge through a comprehensive circular manufacturing process powered by robotics and design. Its robotic microfactories can autonomously disassemble complex electronic products to recover valuable components for reuse, remanufacturing or recycling. The team also partners with leading manufacturers to design electronics with circularity in mind—ensuring one product’s end is another’s new beginning.
AcreShield Completes Series A Funding, Increases Offering to Further AI Development to Provide Farmers Smarter Seed Selection with Protection
AcreShield, the developer of Yield Optimizer™, completed its Series A funding of more than $2.5 million. Yield Optimizer is the first commercially accepted proven artificial intelligence (AI) seed selection program for yield prediction that uses independent seed performance data and provides farmers with guaranteed ROI performance. The board of directors authorized Series A for an additional $2 million.
AcreShield distributors recognize the opportunity AcreShield offers its customers. The Oswald Crow agency is an AcreShield distributor with 10 crop insurance specialists working to meet farmers’ needs in southern Iowa and northern Missouri.
Fortius Metals secures $2 Million Additional Funding to Bring Advanced Metal 3D Printing to the Aerospace and Defense Industry
Fortius Metals, Inc., an innovative metal 3D printing company, is pleased to announce the successful closure of an additional $2 million in their Seed+ funding, bringing the total raised in the financing round to $5 million. This latest funding infusion follows previous investments of $3 million and includes the addition of new strategic investor Finindus, who joined after receiving clearance from the Committee on Foreign Investment in the United States (CFIUS). Previous investors in the round include 412 Venture Fund, AM Ventures, and M7 Holdings. The successful capital raise, despite uncertain venture conditions, underscores the strong confidence in Fortius Metals’ innovative approach to wire-based additive manufacturing and its potential to revolutionize the industry.
Fortius Metals is a large format additive manufacturing company that specializes in advanced materials, to help customers develop solutions previously not possible with robotic 3D printing. Fortius Metals’ patented technology enables welding and wire additive manufacturing using high-performance metal alloys to meet the rigorous requirements of aerospace and defense customers. Fortius customers and partners include the Army, Navy, Air Force, and NASA, as well as several defense primes and commercial space companies.
Lithios Secures $12 Million to Expand Lithium Supply to Meet Global EV and Energy Demand
Lithios, a developer of electrochemical lithium extraction technology, secured a total of $10 million in seed financing to scale the production of their Advanced Lithium Extraction (ALE) platform to unlock access to low-cost, sustainably sourced lithium supplies. The round was led by climate tech venture capital firm Clean Energy Ventures, with participation from strategic venture groups TechEnergy Ventures and GS Futures as well as Lowercarbon Capital and MassCEC. Lithios will leverage the funding to scale its R&D, manufacturing, and operations, and accelerate the development of commercial projects to produce thousands of tons of lithium carbonate annually. Lithios secured an additional $2 million in venture debt from Silicon Valley Bank.
Lithios is developing the first scalable electrochemical lithium capture solution, Advanced Lithium Extraction, to efficiently extract lithium from untapped brine deposits where existing solutions cannot operate. Lithios’s ALE technology allows miners, operators, and the broader battery supply chain to unlock sources of lithium previously considered uneconomical and inaccessible due to difficult contaminant profiles and resource constraints.
Airloom Energy Announces $13.75M Financing to Accelerate Development of Pilot in Wyoming
Airloom Energy, the company unlocking the next generation and full potential of wind power, has secured $7.5 million in financing led by Lowercarbon Capital with participation from Breakthrough Energy Ventures, WYVC, Crosscut Ventures, WovenEarth Ventures, Adiuvans, and the Kutnick Family Office to support its vision of revolutionizing wind energy generation. The company also secured $5 million in Energy Matching Funds from the State of Wyoming and a $1.25M non-dilutive contract from the U.S. Department of Defense.
The new funding will support the development of a pilot in Wyoming to prove out power production and system efficiency, while demonstrating that Airloom can build wind for one-third the cost of conventional horizontal-axis turbines. The company will break ground on the project in the summer of 2025.
Just as Horizontal-Axis Wind Turbines (HAWTs) continue to grow in size and complexity, continued cost reductions are hindered by interest rates and supply chain issues. Airloom takes a fundamentally different approach with its simple, mass-manufacturable design that enables higher energy density and a smaller visual footprint without the massive infrastructure that conventional turbines require.
Blue Energy Secures $45M to Make Clean, Reliable Nuclear Power Commercially Viable
Blue Energy, a nuclear power plant company, emerged from stealth with a $45 million Series A fundraise co-led by Engine Ventures and At One Ventures, with investment from Angular Ventures, Tamarack Global, Propeller Ventures, Starlight Ventures, and Nucleation Capital. Blue Energy also introduced its modular nuclear power plant that can be centrally manufactured in existing shipyards. Shipyard manufacturing reduces the cost and build time of deploying nuclear power safely, making nuclear power economically competitive with fossil fuels and renewables. The funding will be used to advance Blue Energy’s core engineering work and site development, and secure additional partners.
The AI datacenter and manufacturing boom has emphasized the demand for reliable, clean electricity in the U.S. and the world. To decarbonize and grow electricity production while maintaining energy affordability and security, the global energy generation mix must include more nuclear power. However, new nuclear plant construction projects face multi-year delays and exorbitant costs. While there have been exciting advancements in nuclear reactor technology, reactors make up less than 10% of the cost of nuclear power plants; over 90% of the cost comes from construction and regulatory challenges in the rest of the plant. Blue Energy’s innovation is a modular, reactor-agnostic power plant architecture to house the next generation of nuclear reactors. Blue Energy’s power plants use centralized shipyard manufacturing to dramatically reduce the capital costs from $10K/kW to $2K/kW and shrink build times from 10 years to 2 years.
Dave Clark launches Auger, raises $100M for the AI venture
Dave Clark, a former Amazon and Flexport executive, announced he has embarked on a new venture with the launch of Auger, a logistics software startup. Backed by $100 million from the investment firm Oak HC/FT, Auger aims to power supply chain management operations using AI and other automation to optimize decision-making for companies of all sizes.
Despite that setback, Clark’s time at Amazon, where he led the rapid expansion of the company’s delivery network during the pandemic, allowed him to develop a deep understanding of global supply chain challenges. He explained in a LinkedIn post that Auger will leverage AI to help companies streamline supply chain processes and reduce inefficiencies, something he believes current market offerings, which rely on fragmented systems or “franken-software,” fail to achieve. A major feature of Auger’s platform will be its ability to unify data sources and provide real-time insights, enabling clients to make fast, informed decisions without needing specialized queries or extensive training.
Corvus Robotics Brings Autonomous Inventory Management System to Lights-Out Warehouses
Corvus Robotics, a provider of autonomous inventory management systems, announced an updated version of its Corvus One system that brings, for the first time, the ability to fly its drone-powered system in a lights-out distribution center without any added infrastructure like reflectors, stickers, or beacons. The newest generation product is supported by an $18 million Series A round and seed funding led by S2G Ventures and Spero Ventures.
Using computer vision and generative AI to understand its environment, the fully autonomous Corvus One drone system operates in both very narrow aisles (minimum width of 50 inches) and in very wide aisles. With obstacle detection at its core, the light-weight drone safely flies at walking speed without disrupting workflow or blocking aisles and can preventatively ascend to avoid collisions with people, forklifts, or robots, if necessary. Its advanced barcode scanning can read any barcode symbology in any orientation placed anywhere on the front of cartons or pallets.
BrightNight Closes $440 Million Strategic Investment from Goldman Sachs Alternatives, Upsizes Corporate Credit Facility to $400 Million
BrightNight, the next-generation renewable power producer built to deliver clean and dispatchable power solutions, announced the successful closing of a $440 million strategic equity investment from Goldman Sachs Alternatives. This investment, together with existing capital commitments from leading institutional investors, is expected to fully fund BrightNight’s five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio, which includes solar, energy storage, and hybrid solutions.
Additionally, BrightNight announced the upsize of its corporate credit facility initially announced earlier this year from $375 million to $400 million. This credit facility will provide BrightNight with the necessary balance sheet support to execute on its U.S. project portfolio, delivering critical clean energy infrastructure to serve BrightNight’s customers across the U.S. The credit facility is structured as a Green Loan, in alignment with Green Loan principles.
KoBold Metals, which uses AI to help find critical minerals for the energy transition, raises $491M
The mineral discovery startup has already raised $491 million of a targeted $527 million round, according to an SEC filing. Its previous round of $195 million valued the company at $1 billion post-money, according to PitchBook. The startup is reportedly aiming for a $2 billion valuation for the current round.
With the enormous copper deposit in Zambia, Kobold appears to have delivered on its early promise. The company has about 60 other exploration projects underway, and in a strategic shift, KoBold has said it intends to develop the Zambia resource itself, an undertaking that reportedly will cost around $2.3 billion.
Neutreeno: University Of Cambridge Spinout Raises $5 Million (Seed)
Neutreeno, a deep tech startup spinning out of the University of Cambridge, announced it secured a $5 million seed round with support from a global syndicate of mission-aligned investors.
Companies typically have a large percentage of emissions in their value chain, but they will fail to achieve net zero goals unless they double the emissions reduction pace by 2030. This is hard due to a lack of primary value chain data, the inability to influence suppliers and the high cost of decarbonization.
Neutreeno’s proprietary process networks, based on mass and energy flow research, significantly minimize the primary data burden on suppliers and allow enterprises to map product lines faster and with greater precision than existing tools. Their easy-to-use and affordable digital system automatically pinpoints solutions that reduce emissions and costs across thousands of suppliers.
3Laws Secures $4.1M in Seed Funding to Enable Safe Unsupervised Robot Operation in Dynamic Environments
3Laws, a leader in dynamic safety solutions for autonomous systems, has secured $4.1M in seed funding. The round is led by TenOneTen, with participation from the Amazon Industrial Innovation Fund. All pre-seed investors have chosen to maintain or increase their ownership in this round.
3Laws’ technology was originally developed at Caltech, driven by over a decade of research and development in robotics, control theory, and computer vision. This development effort was supported and facilitated by deep collaborations with industry leaders. The technology was deployed with these partners in a variety of hardware and operational settings, including drones, articulated robot arms, quadrupeds, and ground vehicles.
Now, 3Laws has developed dynamic safety software that can be deployed universally on any autonomous system utilizing existing sensors. The company’s core product, Supervisor, is flexible, scalable, and can integrate into existing autonomy stacks without requiring modifications to the underlying structure. Supervisor monitors signals from the existing autonomy software and modulates them, where necessary, to ensure dynamic safety in a deterministic and describable fashion. For development engineers, Supervisor removes corner cases and shortens development time. For operations managers, Supervisor ensures greater efficiency, improved reliability, and reduced risks. The end result is a system users can trust and deploy confidently.
Valdera Secures $15 Million to Help Manufacturers Make the Next Generation of Products - Faster, Safer, and More Sustainably Than Ever Before
Valdera, the AI-driven sourcing platform for chemicals and raw materials, announced it has raised $15 million in Series A funding, led by Index Ventures. Valdera’s first-of-its-kind platform helps manufacturers – from leading consumer brands to industrial giants – bring products to market faster, safer, and more economically than ever before.
Founded by siblings Sruti and Dheev Arulmani, Valdera has built a pioneering platform that uses machine learning and AI to streamline supplier discovery, qualification, and relationship building. The platform integrates Valdera’s proprietary AI technology with real-time market data. Underlying Valdera’s systems is the world’s most extensive database of chemical and raw material suppliers.
Valdera’s growing roster of customers include some of the world’s largest manufacturers, ranging from Fortune 500 industrial conglomerates to household CPG and beauty names. Its largest multinational producers spend >$10 billion in raw materials. Many are drawn to Valdera’s ability to widen their aperture of the market and support their goals in supply chain resiliency, localization, diversification, and ESG strategies.
Dessia raises €3 million to automate engineering processes through AI
Dessia Technologies, a startup specializing in developing a software platform to automate engineering processes through AI, announced a €3 million funding round. Led by Matterwave Ventures, Supernova Invest, and the Orano Venture Fund, this funding will enable Dessia to accelerate its international expansion and reinforce its technical and commercial teams.
As part of this fundraising, Dessia will provide Orano, an international player in nuclear materials, with innovative “generative design” solutions. This will allow engineers to develop and implement AI programs to automate the generation of multiple system architectures, thereby improving engineering study performance.
Among its clients, Renault Group uses the software platform to optimize the thermal and electrical architecture of its automotive platforms, shortening development cycles. OPmobility, meanwhile, leverages Dessia’s technology to automate the design of hydrogen storage systems.
This funding will support Dessia’s international expansion, with the sales and marketing teams expanding to forge new industrial partnerships across Europe, followed by other continents.
Sysdyne Technologies Secures Strategic Growth Investment from Insight Partners
Sysdyne Technologies, a leader in cloud-native solutions for ready-mix concrete operations, announced a strategic growth investment from global software investor Insight Partners. This investment will support Sysdyne’s continued innovation and growth, enabling the company to further meet the evolving needs of its customers with the firm backing of Insight Partners. Since 2002, Sysdyne has grown by being a visionary in the ready-mix concrete industry, leading the way with consistent innovation and steady revenue growth. The investment from Insight Partners, while allowing Sysdyne to retain majority ownership, serves as a testament to the company’s market leadership and growth potential.
As pioneers in the ready-mix concrete industry, Sysdyne Technologies delivers a comprehensive SaaS (Software as a Service) suite that redefines batch, dispatch, and delivery management. Sysdyne’s interoperable platform is designed to help concrete producers modernize legacy processes. With its intuitive user experience and rapid deployment, Sysdyne provides a competitive advantage and delivers elevated customer service, continuously striving to bring the most value possible to its clients.
Mstack Chemicals secures $40M to disrupt global speciality chemical manufacturing across more countries
Mstack, a US-based custom manufacturing platform that helps global buyers source high-quality specialty chemicals, has raised $40M to double down on its mission to disrupt a historically flawed supply chain for specialty chemicals. The company’s $40M Series A round was co-led by Lightspeed and Alpha Wave and included a debt facility from HSBC Innovation Banking as well as an all star lineup of angel investors. MStack will deploy the freshly infused capital to expand its footprint across the Middle East, Latin America and Asia, while continuing to strengthen its presence in the United States and other geographies.
Notably, the company has codified its entire operation into a single platform, allowing buyers to source, test, ship, deliver, and track all of their specialty chemicals in one place. This meticulous control ensures Mstack is able to consistently meet its value proposition of reliable and timely delivery. The company currently offers products in four categories: oil and gas, coatings, water treatment, and home and personal care. With this round of funding, Mstack is making inroads into agrochemicals and pharmaceuticals, among other segments.
Augmodo Raises $5.3M to Scale Spatial AI Commerce Tech
Augmodo, the only real-time inventory and task tracker using wearable SmartBadges™ to create live 3D store maps, announced it raised $5.3 million in seed funding. The round was led by Lerer Hippeau, with participation from Dunnhumby Ventures, NewFare Partners and Simple Food Ventures, bringing together a broad range of strategic investors who share Augmodo’s vision for the next generation of retail.
Augmodo’s proprietary SmartBadges™ are powered by a Spatial AI assistant for store associates, which recommends actions and tasks to increase efficiencies, including restocking shelves, placing orders and improving compliance, saving stores time and money and improving retailer, associate, brand and shopper experiences. Retailers lose $1.75 trillion in revenue worldwide due to out-of-stocks, preventable returns and overstocks and Augmodo’s tech will help curtail the 11.7% of lost revenue from store inefficiencies and data disconnects.
Powin Secures $200 Million in Debt Capital From KKR to Bolster Growth and Innovation in Energy Storage
Powin, a global leader in battery energy storage solutions, announced that it has successfully secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR, a leading global investment firm. The facility will be instrumental in supporting Powin’s working capital needs, driving continued innovation, and further enhancing the company’s financial flexibility as it expands its leadership position in the storage industry.
This strengthened capital position improves Powin’s ability to seize the immense market opportunity and meet the surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts that the energy storage market will exceed 100 gigawatt-hours of capacity in 2024 and is poised to grow at an annual rate of 21%, reaching 442 gigawatt-hours by 2030. The rising global demand for energy storage is fueled by the rapid expansion of renewable energy sources along with the increasing need for grid stability and resiliency.
AI-driven supply chain platform Ameba raises $7.1M to boost global expansion
Ameba, an AI-powered platform aimed at transforming supply chain management, has raised $7.1 million in a Seed round led by Hedosophia. Moreover, few other European early-stage investor Visionaries Club reinvested, having led Ameba’s pre-Seed round. Anamcara also participated in this round.
The company, founded in 2023 by Cedrik Hoffmann and Craig Massie, is designed to help brands manage their sprawling supply chains by providing real-time insights through a unified platform. The new funding will enable Ameba to expand into new sectors within the $45.2 billion global supply chain market.
With the $7.1 million Seed round, Ameba plans to accelerate its expansion into industries that are ripe for disruption, including fashion and textiles. Hoffmann, co-founder and CEO, explained, “We want to transform customers’ operations while meeting them where they are currently. With Ameba, we’re turning supply chains from bottlenecks into engines of growth.”
Vsim Raises $21.5m to Propel Robotics to New Heights
At its core, Vsim is building the operating system for Robotic simulation and training. The Manchester-based company has built a revolutionary architecture and set of algorithms that enable companies in robotics, AI, Visual FX, research, and the industrial metaverse to fast-track a wide range of cross-disciplinary, high-quality physics simulations. Its novel ML framework enables users to train complex multimodal robotics tasks with an order of magnitude increase in performance, reducing the time and cost of training on GPUs.
The seed funding round led by EQT Ventures will supercharge Vsim’s team growth and ultimately accelerate the company’s pursuit of building a full-stack solution tailored to robotics. The round saw participation from Factorial Fund, Samsung Next, Tru Arrow, Xora (owned by Temasek), IQ Capital, Koro Capital, Concept Ventures, Lakestar Scout Fund, and Concept Venture Partner Carles Reina. This follows a pre-seed fundraise led by Concept Ventures in late 2023.
Idealist Capital, Sanimax and Fondaction invest $58 million to accelerate Entosystem's growth and support the development of a second commercial plant
Idealist Capital, Sanimax and Fondaction are proud to announce their $58 million strategic investment in Entosystem, a world leader in the production of insect proteins and organic fertilizers for agriculture and animal nutrition. This decisive investment aims to accelerate Entosystem’s growth by increasing existing production capacity and constructing a second commercial plant. The second plant under development represents a key step in the company’s growth strategy to meet increasing demand for sustainable proteins and organic fertilizers.
Using its cutting-edge technology, Entosystem diverts tonnes of organic materials from landfills and transforms them into high-quality ingredients, reducing the environmental footprint of food production.
The Drummondville carbon-negative plant can process 90,000 tonnes of organic matter each year into 5,000 tonnes of high-quality protein meal, as well as 15,000 tonnes of fertilizer approved for organic farming. According to an independent study, this innovative project reduces GHG emissions by 85% compared to the current scenario and generates carbon credits. According to the hierarchy of solutions to prevent food loss and waste, Entosystem’s solution is preferred as it enables the reintroduction of organic matter into the food chain through an ecological process.
Toyota To Invest $500 Million in Joby Aviation
Toyota Motor Corporation and Joby Aviation, Inc., a company developing electric air taxis for commercial passenger service, announced that Toyota will invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi, with the aim of realizing the two companies’ shared vision of air mobility. The investment, which will bring Toyota Motor Corporation’s total investment in Joby to $894 million, will be made in the form of cash for common stock, with the first tranche targeted to close later this year and the second in 2025.
Pallet Raises $18M Series A to Reinvent Logistics Software
Pallet, a unified transportation and warehouse management system, announced an $18 million Series A led by Bain Capital Ventures, with participation from Bessemer Venture Partners and Activant Capital. Angel investors also participated, including Zach Frankel, Toast founders Aman Narang and Steve Fredette, Dutchie CEO Tim Barash, Home Depot board member Manuel Kadre, and Cedar Capital partner John Curtius. Pallet will use the funds to grow its team, expand operations and invest in new enterprise product capabilities. The new funding contributes to a total of $21 million raised to date.
Salient Motion Raises $12 Million to Scale Motion Control Business
Salient Motion, an aerospace and defense component supplier, announced it has closed $12 million in total funding, preseed and seed rounds, to transform the design and manufacturing of critical motion control components. The funding was led by Cantos Ventures, with participation from Andreessen Horowitz, AE Ventures, Hummingbird Ventures, and BoxGroup.
Founded in 2022, Salient Motion is reimagining motion control design, focusing on building and certifying modular actuation systems for highly regulated industries such as aerospace, military defense, and advanced manufacturing. The team was built with an initial focus on building flight certifiable systems for commercial aviation that can be reused across multiple component categories. Since the initial inception, Salient Motion has expanded its product portfolio to serve a multitude of industries including military, aviation, and the industrial sector. This expansion leverages the company’s core expertise in stringent regulatory environments to address similar challenges in adjacent markets. Underpinning every Salient Motion product is a proprietary motion control library driving electrical efficiency and cost improvements across a wide variety of electromechanical components.
Impulse Space Secures $150M In Series B Funding To Support Ongoing Company Momentum
Impulse Space, a leader in the development of in-space transportation services, announced a $150 million Series B funding round, led by Founders Fund. The round also included participation from other returning investors like Lux Capital and Spring Tide, as well as attracting new investors, such as DCVC. Other participants in the funding round included Airbus Ventures, Alumni Ventures, Balerion Space Ventures, RTX Ventures, Tamarack Global, 137 Ventures, Elysium, First Principles Group, Island Green, Overmatch, and Trousdale Ventures. The funding, which follows a series of recent milestone moments for the company, will be used to further grow the Impulse team and to support the ongoing production of both the Helios and Mira vehicles. The Series B round brings Impulse’s total funding to date to $225 million.
The Series B funding continues the strong momentum for Impulse. This year alone, the company has been selected by SpaceWERX for a Strategic Funding Increase (STRATFI) award, two Small Business Innovation Research Program (SBIR) awards, announced a new GEO Rideshare Program, and completed the record-setting LEO Express-1 mission. The team is currently preparing for the upcoming launch of the LEO Express-2 mission, which will see a Mira vehicle support deployment and hosting services for multiple customers.
Resurgens Technology Partners Makes Investment in Avantra – Industry Leading AIOps Platform for SAP Operations
Resurgens Technology Partners (“RTP”), a private equity firm focused on investing in North American and European software companies, has announced its investment in Avantra, a European provider of software solutions for monitoring and automating SAP operations.
This partnership positions Avantra to accelerate its growth, with RTP providing the resources and expertise needed to scale operations and further develop its cutting-edge AIOps platform for SAP.
Chemify Receives Grant to Design and Discover New Drug Leads for Tuberculosis and Malaria Using Digital Chemistry Technology
Chemify, a deep tech chemical science company combining chemistry, robotics and AI at scale to digitally design, discover and make new molecules, announced that it has been awarded a grant from the Bill & Melinda Gates Foundation to discover new drug leads for treating tuberculosis (TB) and malaria. By leveraging the company’s proprietary Chemputation technology and workflow, Chemify aims to deliver unmatched drug design and discovery outcomes and potential drug candidates to positively impact the lives of patients worldwide.
Chemify will design, make, and discover compounds using its Chemputation technology – an automated, seamlessly-controlled digital chemical stack with cheminformatics, robotics and AI to uniquely connect the digital design, planning and multiplexed synthesis of novel small molecules. Potential leads will be iteratively optimized using the Chemputation-driven AI during each development cycle. Lead compounds will then be further analyzed and developed by undisclosed partners.
HEST Investments Partners with Valerion to Revolutionize Battery Technology
HEST Investments, a Dallas-based venture capital family office known for its commitment to innovative and disruptive ventures, is proud to announce its recent investment in Valerion, a cutting-edge battery technology company headquartered at The University of Michigan. The investment, finalized in June 2024, marks a pivotal moment in HEST Investments’ ongoing mission drive transformative change in science and technology.
Valerion is at the forefront of revolutionizing the battery industry with technology that makes batteries more efficient, longer lasting and cost-effective. The newly secured capital will be utilized to conduct further testing and development of Valerion’s groundbreaking battery technology, which has the potential to reshape the landscape of electric vehicles (EVs) and all battery-operated technology.
Czech startup PARTORY raises a €1.25M investment round to improve its app and reach global markets
Czech-based startup PARTORY has raised €1.25 million in a fresh funding round from Jet Ventures, a new fund established by Jet Investment. The investment follows PARTORY’s previous success, raising €3.4 million since its inception and is aimed at improving its application and reaching global markets.
PARTORY is a Czech tech-engineering startup founded by brothers Milan and Jakub Málek, focusing on enhancing procurement efficiency and digitising supply chains in the European industrial sector. The company offers comprehensive solutions, including tube and profile processing, flexing, sheet processing, surface finishing, and heat treatment. PARTORY’s clients comprise industry leaders like Wanzl, Trumpf, Bobcat, and Dražice.
Nusano Announces Series C Financing of Over $115M to Commercialize Radioisotopes
Nusano, Inc., a physics company transforming the production of radioisotopes, announced a Series C financing round with funding commitments of over $115 million in total proceeds. The financing will support the company’s initial product launches of non-carrier-added lutetium-177 (n.c.a. Lu-177) and actinium-225 (Ac-225).
The round was led by The Wasatch Group, with additional participation by S32. Previous investors in Nusano include Verily and the American Cancer Society’s BrightEdge.
Nusano is working to stabilize supply chains and enable innovation by bringing new sources of radioisotopes to medical and industrial markets. In 2025, the company will launch two breakthrough technologies poised to transform radioisotope supply availability: a proprietary separation process for high-volume n.c.a. Lu-177 production, and a first-of-its-kind radioisotope production platform.
GeoPura Closes Landmark Debt Funding Round, Pioneering Green Hydrogen Finance in the UK
GeoPura, a global leader in zero emission power, proudly announces the successful completion of its inaugural debt funding round, securing £22 million to fund renewable fuel infrastructure and support the clean energy transition. This ground-breaking achievement marks the first major asset-backed debt funding announcement by a green hydrogen company in the UK.
This announcement builds on momentum from a £56m investment round in February 2024 and a £36m Series A funding round in February 2023, welcoming investment from Siemens Energy, General Motors Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, and the UK Infrastructure Bank. This brings total capital raised to £114m over the last 2 years.
Debt funding has been secured from a panel of bank and non-bank financial institutions including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK and Siemens Financial Services. The proceeds will be used to recapitalise and fund GeoPura’s growing fleet of Hydrogen Power Units (HPUs) and key supporting infrastructure such as tube trailers.
Generative AI startup TeamSolve raises seed round, backed by SGInnovate and Burnt Island
TeamSolve, a startup developing robust and operationally-deployable AI solutions for the industrial and utilities sectors, announced that it has completed a US$2.5m seed round anchored by SGInnovate and Burnt Island Ventures, a US-based early-stage venture fund for water entrepreneurs.
Founded in 2022, TeamSolve has developed a generative AI-powered Co-Pilot designed for industrial operators. The solution is a knowledge twin that provides an accurate, real-time view of asset health, making crucial information readily accessible to frontline workers for safer and more efficient problem-solving. Additionally, it supports managers by improving planning for asset renewals and crew dispatch.
Automaker JAC to Raise Nearly $700 Million to Fund Project With Huawei
State-owned Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) is aiming to raise 4.9 billion yuan ($698.4 million) through a share placement (link in Chinese) to fund its automaking project with Huawei Technologies Co. Ltd. The luxury brand, named Zunjie in Chinese, is part of Huawei’s Harmony Intelligent Mobility Alliance, through which the Chinese tech giant supplies partner automakers with smart driving technologies. JAC is building a dedicated plant to produce the new cars and sources told Caixin the first model planned under the brand is set to be released next year.
Dexory Secures $80M Funding to Drive Global Expansion Goals and Development of Groundbreaking Technology
Dexory, the leading robotics and data intelligence company, announced it has successfully closed an $80 million Series B funding round. The round was led by DTCP, with participation from Latitude Ventures, Wave-X and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic and several angels from the logistics industry. As part of this investment, DTCP’s Michael Rager joins Dexory’s board of directors.
Toyoda Gosei Invests in TriOrb Inc., a Startup Developing Mobile Robots With Omnidirectional Movement Capability
Toyoda Gosei Co., Ltd. (TOKYO:7282) has invested in TriOrb Inc., a startup that was established out of Kyushu Institute of Technology and has been certified as an AISol startup.
TriOrb is developing mobile robots with spheres instead of regular tires to enable smooth omnidirectional movement and software for autonomous mobility to improve productivity on manufacturing floors. By combining mobile robots that can move even in tight spaces or on uneven floor where conventional tires are inappropriate to move, with a variety of robots used in manufacturing sites, the company aims to help solve social problems such as worker shortages and the burden of heavy labor.
Strengthening production competitiveness through manufacturing innovation is one of Toyoda Gosei’s focuses to support the company’s growth strategy based on its medium- to long-term business plan (2030 Business Plan). Toyoda Gosei has invested in TriOrb with a view to utilizing the company’s technology for higher automation and efficiency of its manufacturing processes.
Cerebras Systems Announces Filing of Registration Statement for Proposed Initial Public Offering
Cerebras Systems (“Cerebras”) announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its Class A common stock. The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering.
Cerebras intends to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “CBRS.” Citigroup and Barclays are acting as lead book-running managers for the proposed offering. UBS Investment Bank, Wells Fargo Securities, Mizuho and TD Cowen are also acting as book-running managers. Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt and Academy Securities are acting as co-managers.
Phillip Sarofim’s Trousdale Ventures Supports Notpla Series A+ Funding Round
Trousdale Ventures, a global venture capital firm founded and led by Phillip Sarofim, is pleased to announce its participation in the Series A+ funding round for Notpla, the London-based innovators behind a new generation of plastic-free packaging solutions. Notpla’s latest major fundraising round raised more than $25 million, doubling its initial target. This milestone marks a meaningful step forward in Notpla’s mission to replace single-use plastics with sustainable, seaweed-based alternatives, unlocking the potential to replace 100 million single-use plastics per year.
Sarofim and Trousdale Ventures were introduced to the Notpla team and their impact-driven work through their partnership with Lonely Whale, a nonprofit organization working to prevent plastic waste from ending up in the ocean through innovative, collaborative programs. Notpla was one of the winners of the recent TOM FORD Plastic Innovation Prize powered by Lonely Whale, of which Trousdale Ventures was the exclusive venture partner.
This capital injection is a significant vote of confidence in Notpla’s business model and growth strategy. The investment, supported by a diverse group of existing and new investors, including Trousdale Ventures, was led by United Bankers and will accelerate Notpla’s expansion into the North American market while fueling further innovation.
Monolith Announces Additional Funding from Investor Consortium
Monolith Materials, Inc. (Monolith), a global leader in clean hydrogen and carbon black, announced a closed funding round from existing investors, including Azimuth V Energy Evolution Fund and Azimuth Capital Management’s Development Company Platform, Cornell Capital, Decarbonization Partners, TPG Rise Climate, and Warburg Pincus. This is the latest round following Monolith’s capital raise in July 2022 and conditional approval for a loan from the Department of Energy Loan Programs Office to expand its production facilities in Nebraska.
Monolith uses clean energy to power a commercial-scale proprietary plasma pyrolysis process that electrifies carbon black and hydrogen production. The carbon black produced from Monolith’s low-emission process is an essential input for tires, plastics, inks, paints and other uses. Currently, the carbon black that Monolith produces at its existing facility (OC1) goes into tires across North America. The clean hydrogen to be produced at Monolith’s expansion facility (OC2) will be converted to ammonia and is expected to be supplied as fertilizer to farmers in America’s Corn Belt to help feed and fuel the world.
3D Cloud Secures $20MM Growth Capital Infusion from Bellini Capital
3D Cloud (formerly Marxent), the global leader in 3D digital asset management for 3D product visualization, announced a $20 million growth capital investment led by Arnie Bellini of Bellini Capital. Bellini, a prominent Tampa Bay tech entrepreneur and board member at 3D Cloud, has expanded his support as the company continues to dominate the next generation of online shopping experiences and replace legacy systems.
This latest capital infusion is a testament to the traction 3D Cloud has gained in the market and Bellini’s confidence in the company’s strategic direction. With several high-profile client wins like CITY Furniture, Best Home Furnishings, and Flexsteel, as well as a refreshed brand identity 3D Cloud is positioning itself at the cutting edge of the digital transformation wave. The surge in demand for cloud-based 3D room planning and 3D product configuration solutions makes this investment critical for scaling operations, driving innovation, and ensuring market leadership.