Funding Event
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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, today 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.
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 today 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.
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.
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Ⓡ, today 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, today 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 today 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, today 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, today 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, today 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, today 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.
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 today 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.
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.
Bot Auto Secures $20M in Pre-A Funding to Commercially Deploy Autonomous Trucking
Bot Auto, a pioneering company in autonomous vehicle (AV) technology, based in Houston, Texas, announced the successful completion of its Pre-A funding round which was oversubscribed, raising $20 million. The round was led by prominent domestic and international investors: Brightway Future Venture, Cherubic Venture, EnvisionX Venture, First Star Venture, Linear Capital, M31 Capital, Taihill Venture, and Uphonest Venture. This significant investment will fuel Bot Auto’s tech development for the next generation of autonomous trucking that focuses on safety and operation efficiency.
Veteran Ventures Capital Announces Strategic Investment in Agile Space Industries, Expanding Portfolio of Advanced Space Propulsion Solutions Amid Rapid Market Growth
Veteran Ventures Capital (VVC), a venture capital firm dedicated to investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders, announced a strategic investment in Agile Space Industries (Agile), a leading innovator of in-space chemical propulsion technologies. Agile specializes in the development of advanced chemical propulsion systems, including thrusters and rocket engines for satellites and spacecraft, which are designed, 3D printed, and tested all under one roof. This unique approach is rapidly transforming the in-space propulsion market. The investment marks the first capital deployment from Veteran Ventures Capital’s 2nd Fund and aligns with VVC’s ongoing commitment to revolutionizing space propulsion, following its successful Fund I investment in Phase Four, a provider of electric and multi-mode propulsion systems for satellites.
Agile Space Industries’ advanced chemical propulsion technologies provide rapid-response capabilities and high thrust efficiency, both of which are critical for a variety of space missions, including maneuvering, orbit raising, and deep-space exploration. The global space propulsion market is projected to grow at a compound annual growth rate (CAGR) of over 30% through 2030, fueled by increasing demand for both chemical and electric propulsion systems across commercial and national security sectors. VVC’s investment in Agile expands its strategic portfolio in space propulsion, complementing Phase Four’s electric and multi-mode systems to provide a comprehensive range of propulsion solutions towards diverse and evolving satellite constellation requirements.
This strategic investment will enable Agile Space Industries to accelerate its product development, increase production capacity, and continue advancing its innovative propulsion technology. Agile’s solutions enhance the operational flexibility and performance of spacecraft, positioning the company as a key player in the expanding space industry.
Marple Secures Strategic Funding to Bring Data Insights to Automotive and Aerospace Industries
Marple, recently closed a new investment round to support their growth into the automotive and aerospace industry. The round was led by Network Venture Partners and joined by Birdhouse Ventures and imec.istart.
Engineering datasets are massive, particularly those from sensors producing time series data. Processing such large datasets is complex and requires specialised handling. Marple recognised this challenge and developed a unique time series algorithm capable of processing billions of data points almost instantaneously. Built around this powerful data engine, the Marple platform caters specifically to engineers’ needs. Engineers require specialised tools to visualise and analyse their time series data—a need that standard data analysis tools can’t fulfil.
Even though there is a lot of competition in the data analysis market, Marple stands unique with its offering and is gaining more and more traction in the automotive & aerospace industries. With its first product, Marple has already managed to attract customers globally. In 2023, more than 3000 engineers all over the world used Marple in their data analysis workflow. Companies like Atlas Copco, Verhaert, Yuso, DeepDrive, EddyGrid, Aura Aero already make use of Marple next to some well-known motorsport teams and various aerospace companies that cannot be disclosed.
Utility Global Raises $53 Million of Ongoing Series C Financing
Utility Global, the off-gas-to-value company pioneering its proprietary eXERO™ gas production technology optimized for hard-to-abate industries, announced that it has raised $53 million of an ongoing Series C financing led by the OPG Pension Plan and joined by multinational steel company, ArcelorMittal S.A. (NYSE: MT), via its XCarb® Innovation Fund, alongside current investors Ara Partners and Aramco Ventures. This investment is part of Utility Global’s current growth equity funding round. ArcelorMittal and Utility Global also entered into a Collaboration Agreement to develop a commercial facility at one or more of ArcelorMittal’s integrated steel plants. These key strategic investments and commercialization steps further demonstrate the unique technological approach Utility Global is pursuing to decarbonize industries such as steel, biogas to hydrogen mobility, energy production, chemicals and refining, and other hard-to-abate sectors.
The proceeds from this round will serve to further accelerate commercialization and go-to-market strategies for Utility Global’s proven, patented and tested eXERO technology. With the successful completion of its demonstration program at a commercial steel facility resulting in the first hydrogen ever produced from blast furnace off-gases in a single reactor, the company has shifted to commercial deployments. Specifically, the investments will focus on final design and productization aimed at deploying first commercial units in 2026, under the company’s H2GenTM product line. Utility Global’s innovative technology will transform steel, biogas to mobility, and other industries by introducing a new, cost-effective way of reducing greenhouse gas emissions while producing low-carbon intensity fuels and chemicals that benefit all involved.
Cyclic Materials Secures USD $53M Series B Funding to Accelerate Global Expansion of Rare Earth Recycling Infrastructure
Cyclic Materials, the advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, announced it has successfully closed an oversubscribed USD $53 million Series B equity round. The funding round was led by ArcTern Ventures and supported by new investors BDC Capital’s Climate Tech Fund, Hitachi Ventures, Zero Infinity Partners, Climate Investment, and Microsoft’s Climate Innovation Fund. Existing investors Fifth Wall, BMW i Ventures, Energy Impact Partners, and Planetary Technologies also participated in the round.
This funding brings the company’s total equity raised to over USD $83 million and will enable Cyclic Materials to fast-track its international growth. Cyclic Materials will deploy this capital to build rare earth recycling infrastructure in the US and Europe, and grow its team to support its world-class operations. Importantly, Cyclic Materials’ process of recycling these rare earth materials from magnets achieves significant environmental benefits in comparison to traditional mining processes, including a reduced carbon footprint and unparalleled water efficiency.
VELA Raises $43 Million to Build Its First Gigantic Sailing Cargo Trimaran
VELA, a pioneering French company innovating in 100% wind-powered maritime transport, is proud to announce a significant funding round of €40 million ($43 million USD)—a round led by Crédit Mutuel Impact, 11th Hour Racing & BPI - French Public Investment Bank.
This strategic financing will allow VELA to take a significant new step in its development by officially launching the building of its first vessel with the Australian shipyard, Austal, and strengthening its sales and operations teams in France and the United States.
Ayrton Energy Raises $6.8 Million
Ayrton Energy, a developer of liquid organic hydrogen carrier (LOHC) technology, secured USD $6.8 million in seed financing to advance its low-cost, scalable approach to safe, efficient delivery of clean hydrogen. The round was led by Clean Energy Ventures and the Business Development Bank of Canada’s investment arm, BDC Capital, with participation from Antares Ventures, EPS Ventures, SOSV, the51, and UCeed Investment Funds. Ayrton Energy will leverage the financing to scale its proprietary technology, double the size of its team, and expand operations into energy hubs in the U.S.
Compare, Book, Print: 3D Printing Marketplace Craftcloud gets Growth Funding
All3DP GmbH, publisher of the online magazine All3DP.com and operator of the Craftcloud marketplace, has announced the successful completion of a financing round. The round was led by HZG Group, which joins existing investors High-Tech Gründerfonds (HTGF), Bayern Kapital and Deutsche Balaton AG as a new shareholder. The funds will primarily be used to accelerate the international growth of All3DP’s successful marketplace solution Craftcloud.
Craftcloud makes 3D printing as easy as booking a flight. Customers simply upload the digital model of their part and receive real-time quotes. With just a few clicks, the required quantities can be ordered from the desired provider. Approximately 180 international print service providers are connected to the marketplace and have all been validated by Craftcloud. In addition to costs, all providers are listed by name, company location and the processes they offer. This makes Craftcloud the most transparent platform on the market.
Announcing our $6.5 million seed round
Reflect Orbital sells sunlight from orbit to solar farms and large-scale lighting applications after sunset using a very large constellation of in-space reflectors. Today, we are excited to announce our $6.5m seed round led by Shaun Maguire at Sequoia Capital, with participation from Starship Ventures, Baiju Bhatt, Keller Rinaudo Cliffton, and Keenan Wyrobek. This funding will take us to space and enables us to grow a team that will develop our production vehicles. Partnering with a legendary VC to build space-based energy infrastructure is incredibly exciting, and we represent Sequoia’s first investment in space technology since SpaceX. Together, we see a future where revolutionary launch capability enables companies like us to exist at massive scales.
Campfire Interactive Completes $37 Million Majority Investment from Invictus Growth Partners to Drive Manufacturing Software Innovation
Campfire Interactive Inc., a leading provider of enterprise software solutions for manufacturing companies and automotive suppliers, has secured a $37 million majority investment from Invictus Growth Partners. This investment marks a key milestone for Campfire and will support its continued growth, accelerate product innovation, and expand its market reach. The Company is trusted by many of the world’s largest global manufacturers to manage forecasting and profitability analytics, with over $200 billion in revenue managed through the platform. Invictus Co-founder and Managing Partner William Nettles and Partner Jeremy Lai have joined the Board of Directors.
Campfire’s solution provides enterprise customers with a single pane of glass to forecast their business, understand dynamic cost inputs, automate pricing and quoting, and maintain profitability across multiple products and programs. Campfire’s comprehensive suite of modular software provides reliable, real-time information across sales and finance functions and supports data-driven decision-making. The integration across modules facilitates end-to-end automation and shifts customer time from collecting data to analysis.
GenLogs Industry-First Freight Tracking
Freight brokers face two significant challenges when moving freight by truck: fragmentation and fraud. Trucking is one of the most fragmented industries in the U.S., with millions of trucks crisscrossing the nation’s highways daily. Securing the right truck at the right time remains a legacy problem, exacerbated in recent years by the sharp rise in fraud and theft from posting loads on public load boards.
Virginia-based GenLogs is tackling both issues by developing a nationwide network of roadside sensors that passively collect data on truck movements and extract key details, such as the U.S. Department of Transportation (USDOT) and motor carrier (MC) numbers, as well as the equipment types and logos – all in real-time. This approach provides comprehensive, end-to-end visibility of trucks without the need for hardware installation, device integration, or an app. The data is available via a user interface or ingestible via API for access in a freight broker’s transportation management system (TMS).
Investors see the significant impact GenLogs can have on the U.S. supply chain. In April, GenLogs closed a seed round led by Autotech Ventures and Steel Atlas with participation from Venture53, TitletownTech, Plug and Play Ventures, BBQ Capital, ASC Ventures, and JHH Ventures. GenLogs has raised more than $6 million and plans to use this funding to expand its sensor network and a suite of computer vision models to provide customers with an omniscient view of the transportation industry.
Pyka Secures $40M Series B to Advance Commercialization of Dual-use Autonomous Electric Aircraft
Pyka, an electric aviation technology leader that designs and manufactures large-scale autonomous electric aircraft, announced a $40M Series B raise. The funding round was led by Obvious Ventures, with participation from both new and existing investors, including Piva Capital, Prelude Ventures, Metaplanet Holdings, and Y Combinator.
Pyka is rapidly commercializing autonomous electric aircraft by applying its technology to many of the world’s most critical flight missions, including agricultural crop protection, commercial cargo transportation, and defense logistics.
The new investment will accelerate Pyka’s growth across its dual-use product line. On the commercial side, it will support further investment in Pyka’s domestic manufacturing capabilities, boost production of its Pelican Spray and Pelican Cargo products, and enable expanded operations with both U.S. and international customers. Additionally, the Series B funds will advance the development of new capabilities to support contested logistics operations for the U.S. Department of Defense and allied partners.
HyperLight Accelerates Growth With $37M Funding Led by Summit Partners
HyperLight Corporation, a leading provider of thin film lithium niobate (TFLN) photonic integrated circuits (PICs), announced a US$37 million Series B investment led by Summit Partners. The round includes participation from existing investors Xora Innovation, a deep tech venture fund backed by Temasek, and Foothill Ventures. Peter Chung, Managing Director and CEO of Summit Partners, will join HyperLight’s Board of Directors.
The continuing need for more bandwidth and greater power efficiency, accelerated by AI, is driving the industry’s transition to next-generation photonics technology. Current PICs have performance limitations due to their material properties and have become bottlenecks for high-performance optical communication. HyperLight’s TFLN PICs deliver unmatched bandwidth and energy efficiency well-aligned with the current and future needs of AI/data center infrastructure, telecommunications optical networks, and high-performance computing. Since the company’s founding in 2018, HyperLight has delivered industrial-scale TFLN PICs with a trusted supply chain. This new financing allows the company to accelerate product development and meet rapidly growing customer demand.
StandardAero Announces Launch of Initial Public Offering
StandardAero, Inc. announced that it has launched its proposed initial public offering of its common stock. The proposed offering consists of 46,500,000 shares of common stock. The price range for the initial public offering is currently estimated to be between $20.00 and $23.00 per share. Certain affiliates of The Carlyle Group Inc. and GIC Private Limited intend to grant the underwriters a 30-day option to purchase up to an aggregate of 6,975,000 additional shares of common stock from them at the initial public offering price, less underwriting discounts and commissions. StandardAero has applied to list its common stock on The New York Stock Exchange under the symbol “SARO”.
NATO-backed chip startup Ephos raises $8.5 mln for Italian operations
Chip startup Ephos, which is part of a NATO programme to encourage defence innovation, said it has raised $8.5 million towards a Milan research and production facility.
The European firm, whose technology spans several areas seen as promising for computer chip advances, also said it had received a 450,000 euro ($500,000) grant from NATO’s Defence Innovation Accelerator, which was launched in 2023.
Ephos makes photonic chips, which use light instead of electricity, which means faster chips that generate less heat. It also uses glass, rather than silicon, as a base for its chips, which promises less signal loss and denser connections.
Ephos wants to shatter the market for AI and quantum chips with a new design based on glass
A theoretical physicist believes he has made a breakthrough in photonics research that will enable us to have faster and better processors — a major need in artificial intelligence, quantum computing, and other tech with heavy workloads. Now, his startup has received early backing from NATO, the European government, and other key investors to produce those chips.
Ephos has raised $8.5 million in seed funding that it will use to build out and operate a new R&D and manufacturing facility near Milan focused on glass-based quantum photonics.
There are others like Ephos with bight ideas about photonics, including Xanadu (valued at $1 billion), Photonic (backed by Microsoft), Oxford spinout Orca (backed by the U.S. DoD) and more. But Ephos, with its focus on chips, says that its facility will be the “world’s first dedicated to producing glass-based quantum photonic circuits.”
MetOx International Secures Additional $25M Series B Extension
MetOx International, Inc. (MetOx), a leading U.S.-based developer and manufacturer of high-temperature superconducting (HTS) wire, announced the successful close of a $25 million Series B Extension. As part of this funding, we welcome several marquee investors including energy-focused family office, Centaurus Capital and premier climate and energy transition-focused venture firm New System Ventures (NSV). This investment signals strong investor confidence in the company’s rapid scale up of its Xeus™ HTS wire technology for key energy transition applications.
MetOx’s proprietary manufacturing technology enables production of HTS wire at commercial scale, positioning the company at the forefront of the energy transition. This investment will support the expansion of the company’s U.S.-based manufacturing capabilities, enabling MetOx to meet rapidly growing domestic and global demand for HTS solutions.
FluoRok raises £7.7m ($9.8m) to transform the safety and sustainability of fluorochemical production
FluoRok, an Oxford-based start-up, has raised £7.7m to scale-up, manufacture and commercialise novel fluorochemical reagents and battery electrolyte salts. The oversubscribed round was led by BGF alongside Green Generation Fund and included battery specialist Volta Energy Technologies, current investors (Oxford Science Enterprises and University of Oxford), Excellis Holding and angels.
With a growing market valued at $24bn, fluorochemical manufacturing relies on a centuries-old, carbon-intensive process centred around hydrogen fluoride (HF), a highly-toxic, hazardous and difficult-to-handle chemical. FluoRok has developed a safe and sustainable approach completely bypassing HF and providing environmentally friendly access to fluorochemicals while reducing process costs. FluoRok’s groundbreaking innovation has gained substantial traction, attracting numerous potential customers across core markets of Li-ion battery electrolyte salts and agrochemicals.
The funding will support team growth and expanded production facilities for the initial supply of fluorinating reagents and lithium hexafluorophosphate (LiPF6), a key component of lithium-ion batteries.
HavocAI Closes $11M Seed Round to Revolutionize Autonomous Uncrewed Surface Vessel Operations
HavocAI Inc., a leading innovator in autonomous uncrewed surface vessel technology, is excited to announce the successful closing of an $11 million Seed round of funding. The round was led by Scout Ventures, co-led by Trousdale Ventures, and saw additional participation from Outlander VC, The Veteran Fund, BV.VC, Decisive Point, Alumni Ventures, and New North Ventures. This strategic investment will fuel HavocAI’s mission to enable ultra low-cost autonomous surface vessels to operate at an unprecedented scale across both defense and commercial markets.
This latest funding will enable HavocAI to expand its production capacity, enhance product development, and accelerate customer acquisition, ensuring that the company remains at the forefront of autonomous uncrewed vessel technology.
DeepDrive lands €30M for its electric motors that accelerate EV adoption
Munich-based DeepDrive, a high-tech electric motor company, has landed €30 million in Series B funding. The oversubscribed round was led by Leitmotif, an independent venture capital firm, active in both the US and Europe dedicated to decarbonisation investments. It saw participation from all existing investors, BMW i Ventures, co-pace, the corporate venture unit of Continental, UVC Partners, and Bayern Kapital (which invested in XO Life and Symphera), through the Wachstumsfond Bayern.
With this latest capital, DeepDrive is poised to convert high-volume projects in its strong customer pipeline of 8 of the world’s 10 largest automakers. The funding will also enable the company to build in-house production lines and industrialise its patented Dual Rotor motor technology to accelerate the mass adoption of electric vehicles (EVs).
Phlair raises €14.5 million to scale hydrolyzer-based DAC tech
Phlair (formerly Carbon Atlantis), a company developing a hydrolyzer-based Direct Air Capture (DAC) technology which enables scalable and low-cost CO2 capture from ambient air, raised a €14.5 million seed round.
The financing round is led by Extantia Capital, with participation from Planet A and Verve Ventures and includes a €2.5 million grant from the EIC accelerator. Existing investors Atlantic Labs, Counteract, and UnternehmerTUM Funding for Innovators also participated in the oversubscribed round. The funding will be used to bring its first-of-a-kind Direct Air Capture plants online in 2025, delivering to a roster of early customers such as Shopify, Stripe, Klarna, and Deep Sky.
Alesi snaps £5M to mitigate surgical smoke problems in operating theatres
Alesi Surgical, a UK-based startup developing a novel technology to manage smoke created by surgical tools in operating theatres, has raised £5 million in funding. The round was led by Mercia Ventures (which invested in Warehow and Wobble Genomics) alongside existing investors IP Group and Panakès Partners. With this, the total funding raised by the company accounts for £21 million.
The latest funding will enable it to drive sales in the US market and to seek regulatory approvals for its products in Europe and Japan.
Karman Industries Emerges from Stealth to Deliver Advanced Thermal Energy Technology
Karman Industries, the company electrifying global manufacturing, announced it has emerged from stealth with $4 million in pre-seed funding led by Riot Ventures in partnership with Space VC.
Founded in August 2024, Karman is on a mission to help global enterprises significantly reduce costs and eliminate onsite scope 1 emissions by transitioning their manufacturing operations from natural gas to electricity. Thermal01, Karman’s high-performance, mass-manufactured, and self-contained electric heat pump, leverages advanced manufacturing techniques and technologies from other leading-edge industries, including turbomachinery from the rocket sector and high-frequency power electronics popularized by the electric vehicle market.
Twelve Announces $645 Million in Funding Led by TPG to Transform CO2 into Jet Fuel and Electrochemicals at Scale
Twelve, the carbon transformation company that converts captured carbon dioxide into valuable chemicals, fuels, and other essential products typically made from fossil fuels, announced $645 million in funding. This raise is a strategic mix of capital which includes $400 million in project equity led by TPG Rise Climate, $200 million in Series C financing, and an additional $45 million in credit facilities from leading funders in the renewable energy sector marking this as one of the largest financing rounds to date in the e-fuels space.
The funding accelerates Twelve’s goals of defossilizing manufacturing processes, focusing first on emissions generated by aviation. This includes the completion of AirPlant™ One, Twelve’s inaugural sustainable aviation fuel (SAF) plant located in Moses Lake, Washington, which is expected to begin production in 2025. AirPlant One is the first of many facilities throughout the country to make E-Jet® fuel, using the company’s patented technology to produce SAF derived from biogenic CO2, water, and renewable energy sources which achieves lifecycle emissions up to 90% lower than conventional fossil jet fuel.
Inbolt bags €15M to sharpen industrial robots’ intelligence
In a world where automation is key to staying competitive, one startup is helping manufacturers overcome long-standing barriers. Inbolt, a Paris-based pioneer in real-time robot guidance solutions, has secured €15M in a Series A funding round led by Exor Ventures, to develop AI-powered vision for industrial robots. This funding will drive Inbolt’s mission to revolutionise factory automation through cutting-edge AI-powered software that gives robotic arms the ability to adapt in real-time to their surroundings.
The latest funding round, led by Exor Ventures, the early-stage investment arm of Exor N.V., will accelerate Inbolt’s research and development efforts, helping the company expand its operations in the US and Japan. Existing investors such as MIG Capital (Germany), SOSV (US), BNP Paribas Développement, and Bpifrance also participated in the round, bringing the total amount raised to €20M. Notably, Exor Ventures is the largest shareholder in companies like Ferrari and Stellantis, linking Inbolt to a broader network of industrial giants.
Tidal Metals Announces $8.5 Million Series Seed Funding Led by DCVC for Revolutionary Technology to Safely and Economically Extract Magnesium Metal from Seawater
Tidal Metals announced the completion of its $8.5 million Series Seed funding round led by DCVC with participation from First Spark Ventures and Bidra Innovation Ventures. The financing will fund the development and construction of a commercial pilot plant to demonstrate Tidal Metals’ breakthrough technology for extracting primary magnesium metal from seawater.
Tidal Metals has developed a revolutionary technology that will produce magnesium metal at competitive prices using a carbon neutral and environmentally harmless process. Magnesium is the second most abundant metal in seawater, averaging 1.3 kilograms per cubic meter. However, historical techniques that relied on chemical extraction proved to be economically uncompetitive and environmentally harmful. Without new innovations, the world cannot recover any of the magnesium contained in discharged desalination brine each year, estimated at over one hundred times the current global magnesium production of one million tons per year.
AIR COMPANY Raises $69M in Series B to Commercialize Carbon Utilization Technology and Sustainable Aviation Fuels
AIR COMPANY, a carbon conversion technology company, announced it has raised $69M in Series B funding to advance its technology, promote energy security, and drive emissions reductions in hard-to-abate sectors, such as aviation. Avfuel, a leading global supplier of aviation fuel and services, led the round and will be the preferred provider of distribution and logistics, plus environmental attribute tracking and reporting for AIR COMPANY. Additional participants in the round included Lowercarbon Capital, IQT (In-Q-Tel), Alaska Airlines, Connecticut Innovation’s Climate Tech Fund, Duncan Aviation, JSSI, and the owners of Sheltair Aviation, among others. Existing investors Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures also participated in the financing. As part of this investment, Avfuel will join the company’s board of directors.
The new capital will bolster AIR COMPANY’s engineering and R&D capabilities, accelerating the development of its advanced technology to meet increasing demand for clean fuels in both commercial and government sectors. AIR COMPANY is at the forefront of creating scalable sustainable aviation fuel (SAF) produced from carbon dioxide, which seamlessly integrates into existing aircraft and infrastructure. This investment represents a major advancement toward large-scale production of fully formulated, CO2-derived SAF.
GreenLite Raises $28.5M to Privatize Permitting for Developers and Regulatory Authorities
GreenLite, a construction technology company making permitting faster and more predictable for builders, developers, and municipalities, announced its Series A raise of $28.5 million, led by Craft Ventures with participation from 53 Stations, Trust Ventures, and LiveOak Ventures. The new funding comes less than a year after GreenLite’s launch from stealth and will be used to enhance its technology platform and Private Plan Review offering, in addition to expanding into new markets and customer segments, and deepening its work with local government agencies.
GreenLite’s purpose-built technology and Private Plan Review service standardize and automate the entire permitting process - not just the permit application - across all jurisdictions, reducing the time and labor required for plan review by 75% per project. As the only software-first Private Provider in the market, this full-stack approach ensures that both developers and cities benefit from modern tools that facilitate faster, more organized, and more predictable construction permitting.
Sceye Secures Funds in Series C Round Led by Mawarid Holding Company
Sceye, a leading U.S. aerospace company specializing in High-Altitude Platform Systems (HAPS), announced the successful closing of its Series C funding round. The round was led by Mawarid Holding Company (“Mawarid”), a prominent Saudi corporation with an established presence in information and communication technology, satellite, and digital solutions.
Sceye strengthened its balance sheet by closing the Series C funding round, which values the Company at a pre-money valuation of $525 million. This provides sufficient liquidity to fund R&D activities, flight programs and launch the initial commercial operations in 2025. This strategic alliance continues Sceye’s successful partnership strategy, following América Móvil’s involvement as the largest investor in their Series B round with a focus on Latin America.
Intezer Raises $33M to Extend Security Teams With AI That Emulates Human Analysts
Intezer, a leader in AI-powered technology for autonomous security operations, announced that it has raised $33 million in Series C funding, bringing its total capital raised to $60M. The funding round was led by Norwest Venture Partners, with participation from all existing investors, including Intel Capital, OpenView, Magma, and Alon Cohen, founder of CyberArk. With these funds, Intezer will expand its go-to-market and product teams to strengthen its position as a leader in the emerging AI SOC market category.
Intezer’s Autonomous SOC platform uses unique AI models to simulate human analysts’ decision-making process, effectively functioning as an extension of the security team. Intezer integrates with the customer’s existing security tools to automatically investigate endpoint alerts, SIEM alerts, user-reported phishing, and more. Intezer’s platform triages new alerts in two minutes, automatically resolves false positives, and escalates only 4% of alerts to the SOC team with clear findings and recommended incident response actions, leading to faster response times for critical threats.
Timefold Secures €6 Million to expand Planning AI platform
Timefold, a Belgian AI software startup specializing in planning optimization, has successfully raised €6 million in a seed funding round led by Lakestar, one of Europe’s top venture capital firms. Returning investor Smartfin also participated in the round. This funding will accelerate the development and commercialization of Timefold’s groundbreaking PlanningAI technology, designed to optimize complex scheduling and routing challenges faced by large-scale enterprises.
The round follows a €2 million pre-seed funding secured in March 2023, led by Smartfin, which fueled the initial development and market introduction of Timefold’s platform. The company’s software, based on the open-source OptaPlanner project, aims to solve inefficiencies in large-scale planning for industries such as logistics, transportation, field services, and workforce management.
Timefold’s platform is already trusted by several Fortune 500 companies, including Deutsche Bahn, Palantir, NEC, ADP, and Advantage Solutions. The new funding will enable Timefold to further scale its offerings, focusing on building out its platform and further developing planningAI models for other mission-critical applications.
Mosaic Raises $28 Million to Accelerate Supply-Chain Resilience and Sustainability with Additive Manufacturing
Mosaic Manufacturing Ltd. announced the closing of a $28(CAD) million financing round led by Idealist Capital. This funding will be used to further expand the adoption of the company’s automated additive manufacturing platforms on the factory floor. This milestone comes at a time when manufacturers are facing immense pressure to evolve: consumers are demanding cheaper, more sustainably made products, and global supply chains struggle to remain operational in the face of unprecedented economic and geopolitical challenges.
Founded in 2014, Mosaic has expanded its breakthrough multi-material 3D printing technology into a comprehensive ecosystem of additive manufacturing solutions, empowering leading global companies to reimagine and modernize their polymer supply chains. By leveraging one of the most proven and reliable additive manufacturing techniques—fused filament fabrication (FFF)—Mosaic’s flagship product, Array, integrates patented hardware, automation, and software into a powerful industrial 3D printing platform that delivers the flexibility, cost efficiency, and throughput required for real-world manufacturing applications.
Cybord Raises $8.7 Million Series A to Expand First-of-its-Kind Visual AI Electronic Component Quality and Traceability Solution, Pioneering the Next Generation of Electronics Manufacturing
Cybord, the visual AI solution ensuring electronic component quality, authenticity, and traceability, announced that it has secured $8.7 million in Series A funding led by Capri Ventures, with participation from Ocean Azul Partners and existing investors IL Ventures and NextLeap Ventures, among other new and current investors. Partnered with leading manufacturers including Flex and Siemens, Cybord is integrated into over 60 manufacturing lines worldwide, inspecting millions of electronic components daily. This newest funding will be used to accelerate the company’s growth and further global distribution of its transformative solution.
Using deep learning and AI algorithms, Cybord analyzes and inspects 100% of electronic components on PCBA powering everything from electric vehicles to data centers. The Cybord solution addresses the industry’s critical need to confront electronic component quality to prevent damaging product condition, consumer trust, and manufacturers’ bottom lines. Until now, electronic component quality and security have largely been overlooked, leading to increased occurrences of defects and costly recalls, which hit a seven-year high in 2023. This unreliable state of electronic component quality results in time-consuming and costly reworking and scrapping of electronic boards and products, the allocation of valuable capital in anticipation of warranty claims, and costly recalls worth millions to billions of dollars in lost profits.
Pickommerce Secures $3.4M Investment to Advance Innovative Robotic Piece-Picking Technology
Pickommerce, a warehouse automation innovator, announced it has secured $3.4 million in funding to advance the development, production and marketing of its innovative PickoBot piece-picking robot. Pickommerce’s technology is poised to disrupt the warehouse automation market, which is projected to grow at a CAGR of 53.4% and reach nearly $9 billion by 2029, according to research firm Mordor Intelligence. The funding round was led by IL Ventures, a fund focused on disruptive technologies for legacy industries, and includes InNegev, Fusion VC, the Israel Innovation Authority and strategic investor ZIM Ventures, the corporate venture arm of maritime shipping company ZIM Integrated Shipping Services Ltd (NYSE: ZIM).
With PickoBot, Pickommerce has delivered the missing link in achieving a fully autonomous warehouse workflow, providing a superior solution for various industries such as apparel, retail (consumer goods, food, DIY, electrical, etc.), e-commerce, pharmaceutical, agricultural and spare parts. PickoBot utilizes an advanced computer vision system powered by machine learning that enables the safe and intelligent packaging of objects of different sizes, weights and textures. It features multiple gripping methods in a single station, including vacuum, finger-based, and patented adhesive-based grippers. An AI-driven decision-making algorithm selects the optimal gripper and grasp configuration for each item. Pickommerce’s patent-protected technologies significantly increase the variety of products that can be handled by robots in logistics, as well as the level of autonomy those robots possess.
Two Boxes Secures $5.3M in Oversubscribed Funding Round
Two Boxes, the best way for brands and 3PLs to streamline returns and capture critical data from the process, has successfully raised $5.3 million. The oversubscribed funding round led by Peterson Ventures more than doubled the company’s valuation and saw participation from new investor Assembly Ventures, alongside renewed support from existing backers Vinyl, Range Ventures, and Matchstick Ventures. With the capital infusion, the company plans to grow its engineering and go-to-market teams, as well as expand their geographic footprint beyond North America.
Two Boxes recently made news partnering with Loop and Happy Returns, a UPS Company, and currently serves over 20 third-party logistics providers (3PLs) in North America, including industry leaders like Capacity, Flowspace, and GoBolt.
Samp raises €6M to scale up Shared Reality platform
French deeptech startup Samp, which has developed a first-of-its-kind AI-generated digital twin solution to accelerate the transformation and decarbonisation of industrial sites, has raised €6 million in funding. The investment came from Promus Ventures, which backed Recycleye and The Exploration Company, and Kvanted, which backed Buddywise and Cozero.
The investment will allow the company to scale up and deploy its innovative “Shared Reality” solution internationally. It will help Samp meet the growing demand by developing the sales team in France and Europe; continue R&D to stay at the forefront of AI and 3D developments; and prepare for international expansion outside Europe.
Reverion raises €56 million for serial production of renewable power plants
Reverion, a company building reversible, carbon-negative power plants, announced it had raised €56 million in Series A funding, including non-dilutive funding. The oversubscribed round was led by Energy Impact Partners (EIP) with participation from Honda and the European Innovation Council Fund (EIC Fund). Existing investors Extantia Capital, UVC Partners, Green Generation Fund, Doral Energy-Tech Ventures, and Possible Ventures also joined the round. This funding will enable Reverion to begin serial production of its power plants and meet over $100 million in customer pre-orders collected to date.
Reverion’s patented technology is paving the way to 100% renewable energy by using the full potential of biogas. Their reversible power plants overcome the limitations of conventional technologies for power generation from biogas, significantly increasing revenue for operators from the same biomass. Unlike conventional gas engines, which are inefficient and emit millions of tonnes of CO2 annually worldwide, Reverion’s fuel cell-based plants achieve up to 80% efficiency in power generation, doubling the electricity output of gas engines.
Trinity Capital Inc. Provides $30 Million in Growth Capital to Slingshot Aerospace
Trinity Capital Inc. (NASDAQ: TRIN), a leading provider of diversified financial solutions to growth-oriented companies, announced the commitment of $30 million in growth capital to Slingshot Aerospace, a leader in AI-powered solutions for satellite tracking, space traffic coordination, and space modeling and simulation.
The new debt facility from Trinity will allow Slingshot to continue to scale operations and fund key growth initiatives.
ZeroAvia Completes $150m Series C Financing
ZeroAvia announced that it has extended its Series C financing to a total of $150m, with a £20m investment from Scottish National Investment Bank (“the Bank”) coming alongside recent investments from American Airlines, International Airlines Group (IAG) and ITOCHU Corporation.
The round was co-led by Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund (NIF), with UK Infrastructure Bank joining as a cornerstone-level investor, and with strong support from existing shareholders including Breakthrough Energy Ventures, Horizons Ventures, Ecosystem Integrity Fund, Summa Equity, Alaska Airlines, Amazon’s Climate Pledge Fund and AP Ventures.
ZeroAvia has already extensively flight tested a prototype of its first ZA600-engine aboard a Dornier 228 aircraft at its UK base and the application for certification is underway with the CAA. The company has also performed advanced ground tests in the US and UK for the key building block technologies for the ZA2000 system, including cryogenic tanks for LH2 and proprietary high-temperature PEM fuel cell and electric propulsion systems. ZA2000 will support up to 80 seat regional turboprop aircraft such as the ATR72 and the Dash 8 400. The company is also selling its component technology, including electric motors and fuel cell power generation systems, to other electric aviation innovators.
Optimotive secures US$2M to expand in Windsor
Windsor-based mobile robotics firm Optimotive has secured US$2-million in new investor funding to expand operations and help complete development of two new products for use in the construction, mining and oil and gas sectors.
The company specializes in automated wheeled and tracked mobile robots to collect data and perform clean-up and towing duties in challenging outdoor settings. The funding will allow Optimotive to build 20 new IRIS model robots. There are currently five IRIS robots in the field.
Optimotive has secured backing from Silicon Valley venture capital fund Version One and Waterloo-based Garage Capital. The third backer in the project is Newlab Detroit, which is also offering access to its testing and manufacturing facilities at its site at the Michigan Central Station tech hub. Newlab’s Detroit operations specialize in mobility and aiding startups in that space.
Morphotonics Announces First Closing of a $10+ Million Series B Funding Round
Morphotonics announces the launch of its Series B financing round, marking a significant endorsement of its mission to elevate global display technology. New investors 3M and BOM (Brabant Development Agency) join existing investor Innovation Industries (with BOM and Innovation Industries as co-leads) in supporting Morphotonics’ vision for the future with the first closing of a $10+ million round, and a second closing anticipated by year-end. By unlocking the potential of 3D displays, making Augmented Reality (AR) smart glasses accessible to all, and delivering energy-efficient solutions for mobile devices, Morphotonics is poised to redefine how we interact with screens.
As digital interactions become an essential part of everyday life, the demand for superior visual experiences is growing rapidly. To address this, Morphotonics is dedicated to advancing display technology that not only elevates visual quality but also optimizes energy efficiency. As the leading global provider of large-area nanoimprint technology, Morphotonics is at the forefront of this transformation with its groundbreaking large-area Roll-to-Plate (R2P) nanoimprint technology and equipment solutions including the ability to add trillions of lenses in an area greater than one square meter.
The latest funding will allow the company to scale its operations and supply chain, expand its global customer base—particularly in Asia—and further position fully-automated, large-area nanoimprinting as a standard in display optics production through new product innovations.
Spacemaker alums’ Vind AI raises €3M for AI-powered wind park designing platform
Oslo-headquartered Vind AI, an AI platform for wind park design, has snapped €3 million in seed funding. The round was led by Norrsken VC, which recently backed NALA and Workpay. It also saw participation from Spacemaker founders, Arkwright X, and the company’s employees.
Vind AI will use the funding to reach new customers and build the product further. It will grow its team, with a mix of industry experts, software designers, and developers, and hires in the commercial team.
Cerrion raises $5 million in funding to boost AI Video tech in manufacturing
Zurich video AI startup Cerrion has raised $5 million in funding. The round was led by Y Combinator and Justin Kan’s Goat Capital, with additional participation from session.vc, Soma Capital, 10x Founders, Rebel Fund and renowned angel investors.
By automating tasks traditionally handled by skilled operators, Cerrion’s AI video-led technology helps manufacturers maintain productivity despite workforce shortages. It leverages standard CCTV cameras to learn and monitor production processes, automatically detecting and acting on deviations in real-time.
SiLC Technologies Receives Investment from Honda to Advance AI Vision Capabilities
SiLC Technologies, Inc. (SiLC), announced it has received an investment from Honda to develop next-generation FMCW LiDAR solutions for all types of mobility. SiLC is the leading developer of integrated, single-chip FMCW (Coherent) LiDAR solutions and focuses on enabling advanced AI-based machine vision. Honda invests in innovative startups through its global open innovation program, Honda Xcelerator Ventures. This program is led by Honda Innovations, a subsidiary of Honda Motor Co., Ltd.
SiLC is tackling several critical challenges in vehicle vision technology using high-performance FMCW LiDAR. Current radar and 2D/3D vision systems struggle with detecting dark objects, such as tires, at distances of a couple of hundred meters. They also have difficulty distinguishing between slow-moving and stationary vehicles for effective evasive actions. Most time-of-flight LiDARs suffer from interference caused by sunlight, retro reflectors, and other LiDAR systems. SiLC’s FMCW LiDAR overcomes these obstacles by detecting objects at distances of a kilometer or more with precise distance measurements and can measure the velocity of objects, allowing the system to predict their movements accurately.
Track3D, an Industry-First Unified Reality Intelligence Platform For Construction, Secures $4.3 Million Seed Funding
Track3D, a Bay Area-based AI-first startup, building a pioneering reality intelligence platform for the construction industry, announced that it has secured $4.3 million venture capital seed funding. The funding will propel the adoption of Track3D’s groundbreaking unified reality capture data platform, designed for intelligent, comprehensive, AI-powered construction progress monitoring. The seed round was led by Endiya Partners, with participation from Shadow Ventures, Monta Vista Capital and others. The funds will be used to expand Track3D’s product offerings and bolster its go-to-market efforts.
Track3D, co-founded by Chaitanya Naredla (“NK”), Kiran Gutta, and Vineeth Paruchuri, is the built environment’s only AI-first Reality Intelligence Platform. It serves as a central hub for all visual data, transforming reality capture data from a system of record to a system of intelligence. Utilizing visual data from drones, 360 cameras, laser scanners, and mobile devices, Track3D provides actionable insights to enhance project oversight and decision-making within a single intuitive system.
Track3D’s platform has already demonstrated significant impacts, with companies reporting an average of a 15 percent productivity boost by reducing time spent on non-optimal activities, a 12 percent improvement in schedule adherence, and a 20 percent reduction in rework costs. Track3D is experiencing robust growth and engagement, having already secured enterprise clients such as Hensel Phelps and Performance Contracting, Inc. (PCI). The rapid adoption by these industry leaders demonstrates the substantial value they find in Track3D’s reality intelligence platform.
Qualifyze Raises $54m to Boost Supplier Risk Management in Life Sciences
Qualifyze, a trusted company in supplier risk management in the Life Sciences industry, announced $54 million in Series B funding from global software investor Insight Partners, with participation from existing investors HV Capital, HarbourVest Partners, H14 and Cherry Ventures. With the new funding, Qualifyze aims to expand its operations into the US market, continue investing in its go-to-market strategy, and enhance its technology to improve supplier risk management globally.
Reshape Automation Raises $5 Million in Seed Funding to Catalyze Industrial Automation Equipment and Services Adoption
Reshape Automation, an AI-powered solution transforming industrial automation from discovery to deployment, has raised $5 million in seed funding. The round was led by Ironspring Ventures and included new investors Haystack, Supply Chain Ventures, Remus Capital, Expansion VC, and prominent angel investors including Amar Hanspal, former co-CEO of Autodesk, alongside existing investors Schematic Ventures and Bee Partners.
This funding milestone reinforces Reshape’s innovative approach to scaling industrial automation. Reshape’s platform consolidates and analyzes process data, tracks requirements, and aggregates demand and supply for automation equipment and services. With its recommendation engine, transparent pricing, and AI agents, the platform accelerates adoption, boosts transparency, and reduces risk for manufacturers and supply chain companies.
With this new capital, Reshape will accelerate the development and deployment of its product suite, the “Reshape Industrial Automation Hub”. Under this umbrella, Reshape is announcing two new products: Reshape Insights and Reshape Planner, and integrating its existing Reshape Market, which now features hundreds of automation products and solutions with plans to add thousands in the coming years.
Toolpath Closes $10M Seed Round to Transform the Machining Business with Applied AI
Toolpath, a company leveraging AI to optimize the machining business, is excited to announce the successful closure of its $10 million Seed Round of financing led by Leaders Fund. This funding marks a significant milestone in the company’s short history. It enables them to accelerate their technology aimed at addressing the key challenges faced by manufacturers related to analyzing new business opportunities, cost estimating, job planning, and CNC programming (CAM).
The Seed Round attracted a prominent group of investors, including Leaders Fund, Tech Square Ventures, BLH Venture Partners, Carl Bass, John Saunders, and Chris Welch. These investors bring a diverse range of industry and institutional experience and expertise, reflecting strong confidence in Toolpath’s innovative approach to creatively solving real-world problems in the machining business.
Toolpath’s AI-driven platform is designed to intelligently analyze parts and processes, enabling manufacturers to make informed decisions about which jobs to quote, accurately estimate costs, and efficiently plan machining operations. This approach addresses the critical front-end workflow, from initial job evaluation to the machining plan, including tooling and machining operations. By harnessing Applied AI and their proprietary Part Comprehension Engine, Toolpath empowers professionals at these critical stages of the machining business, enhancing their work rather than replacing it—much like the auto-pilot has supported and reshaped the role of pilots in aviation.
Mantel Secures $30 Million to Bring Low Cost, Energy Efficient Carbon Capture to the Heavy Industrial Sector
Mantel Capture, Inc. (Mantel), the technology provider of a carbon capture system using molten borates, announced it has raised $30 million in Series A funding co-led by Shell Ventures and Eni Next. Additional participating investors include Engine Ventures, New Climate Ventures, Hartree, bp Ventures, Arosa Ventures, Vale Ventures, Newlab, MCJ Collective, and others. The funding will be used to implement a demonstration project at an industrial site and help pave the way for full-scale commercial deployment of Mantel’s high-temperature carbon capture systems. The company’s technology has already demonstrated carbon capture at lab scale of half a tonne per day, and the upcoming project will be around 10 times larger, rated to capture 1,800 tonnes of CO2 emissions per year at an industrial site.
Mantel leverages molten borates, the only high-temperature liquid-phase carbon capture material, to capture CO2 at the source of emission. By operating at high temperatures Mantel’s systems recover high-grade heat when capturing CO2 (absorption), offsetting the energy necessary to regenerate the molten borate material (desorption). This enables Mantel to capture CO2 from industrial emissions efficiently, reducing capture costs by more than half compared to conventional amine-based carbon capture technologies, which helps render installing Mantel’s carbon capture technology at heavy industry sites economically feasible. As more carbon capture equipment is installed, it is expected this will prompt more investment in infrastructure, further driving down costs of carbon capture, transport and storage.
Switch Bioworks Raises $17M in Series Seed Financing to Bring New Biological Fertilizer Technology to the Field
Switch Bioworks, a biotechnology company developing low-cost and sustainable fertilizers, announced it raised $17 million in Series Seed financing led by Change Forces Capital and joined by Grantham Foundation, Astanor Ventures, Acre Venture Partners, Anthos Capital, Thia Ventures, Emerson Collective, as well as the farmer-led Ag Ventures Alliance and others.
The first product Switch Bioworks is developing will be a consortium of diverse symbiotic microbes, where each member is engineered to release nitrogen fertilizer under precise genetic control. Applied at planting using existing farmer practices, Switch’s product will cost less than the conventional fertilizer it replaces, helping farmers improve their bottom line – fertilizer is one of the biggest operating expenses of farming.
24M Raises $87 Million in Series H Preferred Investment Round
24M today announced it has closed an $87 million investment round. This Series H Preferred Stock financing led by Nuovo+, a 24M strategic partner and licensee, values the company at $1.3 billion post-money. This new investment brings 24M total funding to over $500 million and will help accelerate the commercialization and mass production of 24M offerings, most notably with the acquisition and opening of a new R&D and pilot manufacturing plant in Rayong, Thailand. In addition to Nuovo+, other strategic investors in this round include Kyocera Corporation, ASAHI Kasei, Dai Nippon Printing Company (DNP), Lucas TVS and Mitsui O.S.K. Lines.
6K Closes $82M as Part of Series E Fund Raise for Expansion of Production Capabilities
6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing, today announced that it has closed $82M as part of its Series E funding round. The capital raised was an insider-led investment with investors Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies participating to enable the company to scale up production for battery cathode active materials (CAM) and the expansion for additive manufacturing metal powders. The $82M represents the first close of Series E with the second close expected in the late fall. In addition, Dr. Aaron Bent has transitioned out of the position of CEO, handing the reigns over to 6K COO Dr. Saurabh Ullal who assumes the role of CEO effective immediately.
Seegrid Announces Closing of $50M Series D Investment
Seegrid Corporation, the leader in autonomous mobile robots (AMRs) for pallet material handling, today announced the successful closure of its $50M Series D investment round, funded by its existing lead investors Giant Eagle Incorporated and G2 Venture Partners, as well as smaller investments from other existing shareholders. The investment allows Seegrid to accelerate its autonomous lift truck market initiatives, which are currently generating more growth than expected, in a market that is projected to reach nearly $3.5B by 2027.
3DEO Secures Strategic Investment from Mizuho Bank to Drive Innovation in Metal Additive Manufacturing
3DEO, a Los Angeles-based leader in design, engineering, and metal additive manufacturing (AM), proudly announces a significant strategic investment from Mizuho Bank, Ltd., a Japan-headquartered global financial institution committed to fostering innovation and sustainability. This investment underscores Mizuho’s dedication to advancing the adoption of AM technologies and supporting 3DEO’s efforts to unlock new opportunities in product design and development.
Mizuho Bank’s investment of $3.5 million in 3DEO highlights a shared vision for the future of manufacturing, particularly in leveraging 3DEO’s proprietary Intelligent Layering® technology and expertise in Design for Additive Manufacturing (DfAM). This strategic investment follows Mizuho Bank’s “Transition Investment Facility,” aimed at promoting sustainability and innovation in various sectors.
Entalpic raises €8.5 Million to pioneer AI solutions for decarbonizing industrial chemistry
Entalpic, an innovative startup at the forefront of generative AI technology for materials discovery targeted to the chemical industry, announced today that it has successfully secured €8.5 million in seed funding. This investment is led by Breega, Cathay Innovation & Felicis, alongside contributions and insights from industry and academic advisors Jörg Weiser (ex-Managing Director at Schrödinger), Gilles Wainrib (co-founder at Owkin), Thomas Wolf (CSO and co-founder at Hugging Face), Arnaud Robert (ex C-level at Sanofi), Michal Valko (Principal LLama Engineer at Meta, ex-Deepmind) and Yoshua Bengio (Turing award, founder and scientific director at Mila). Entalpic emerges from a collaboration between researchers at Mila, the world’s premier research lab specializing in machine learning for climate action, and a leading executive from Owkin, a unicorn company renowned for its use of AI in drug discovery. Leveraging this expertise, Entalpic is set to redefine material and molecule discovery for a more sustainable future.
Entalpic’s state-of-the-art AI platform is designed to generate and evaluate new materials and molecules that could replace outdated industrial chemical processes. This platform swiftly formulates and tests chemical hypotheses through a series of automated experiments, enriching the knowledge base with actionable data. By integrating diverse data sources—from numerical quantum simulations and physical lab experiments to academic literature and patents—Entalpic leverages the latest in AI technology, including Large Language Models (LLMs), Active Learning and Graph Neural Networks.
Baseload Capital completes its €53M series B round to scale up geothermal energy
Baseload Capital, the Swedish company scaling up geothermal energy worldwide, announced the closing of its €53M Series B round of financing.
The Series B round was led by an investment from infrastructure fund ENGF. The main investor behind ENGF is Ingka Investments – the investment arm of Ingka Group, the largest IKEA retailer. Other shareholders participating in this round include energy technology company Baker Hughes – whose investment was announced in 2023 – Nefco, Breakthrough Energy Ventures, and Gullspång Invest.
Baseload Capital pushes the boundaries for geothermal development by addressing underutilized resources and building a global collaborative portfolio of projects to scale the entire industry. Funds will be used to commercialize the company’s current portfolio of projects.
Nvidia Invests in Sakana AI's $100 Million Funding Round
Nvidia is investing in Sakana AI and partnering with the artificial-intelligence research company to spur AI development in Japan. Sakana AI, founded by Google engineers in 2023, announced the collaboration with the U.S.-based chip giant on Wednesday, saying it raised over $100 million from a group of investors. The Series A round was led by venture-capital firms New Enterprise Associates, Khosla Ventures and Lux Capital.
The AI lab is building technology aimed at automating the development of foundation models, based on nature-inspired ideas.
Treble Technologies secures €11M for its cloud-based sound simulation platform
Treble, an Icelandic sound simulation technology startup, has landed €11 million in Series A funding. This round follows the €8 million investment the company secured back in 2022. The round was led by KOMPAS VC which recently backed Optiml and Again. It also saw participation from Icelandic VC Frumtak Ventures, which recently invested in Sidekick Health and PLAIO, the European Investment Council (EIC), Omega, strategic partners St. Gobain & L-Acoustics, as well as experienced angel investors.
Designing sound for buildings, cars, and tech products has traditionally been an expensive undertaking because of a lack of easy-to-use and accurate simulation solutions that can be integrated into the design process. When buildings or products fail to meet the necessary acoustic standards, adjustments can be time-consuming and costly.
Oxylus Energy Raises $4.5 Million Seed Round for Clean Fuel Technology
Oxylus Energy, developer of a novel carbon utilization technology for the production of e-fuels, announced the close of its $4.5 million Series Seed investment co-led by Toyota Ventures and Azolla Ventures with participation from Earth Foundry and Connecticut Innovations. Oxylus’ solution is the first low-temperature and low-pressure conversion of carbon dioxide to green methanol, a liquid fuel. This is enabled by commercializing the first-ever catalyst developed at Yale University by Professor Hailiang Wang for direct electrochemical conversion of carbon dioxide to methanol. Building reactors similar to green hydrogen electrolyzers, Oxylus creates methanol using only captured carbon dioxide, water and electricity. Designed to operate in modular conditions, this approach is a lower-cost technology for carbon conversion into alternative fuels. This funding will accelerate Oxylus’ technology development, prototype testing and pilot deployment.
Oxylus Energy’s methanol can be used as a drop-in fuel replacement or upgraded to jet fuel and other green petrochemicals. By uniquely combining carbon conversion and alternative fuel production this approach can reduce energy expenditures and cut costs for fuel production. “Direct electrochemical conversion of carbon dioxide at low temperatures and pressures is the only way to decrease the cost of green methanol,” said Conor Rooney, Co-Founder and CTO of Oxylus. According to Harrison Meyer, Co-Founder and COO of Oxylus, “Without decreasing the price of methanol it will be difficult to decarbonize the hard-to-abate sectors of aviation, shipping, and petrochemicals that are currently responsible for 11% of global emissions.”
GALY Raises $33 Million in Oversubscribed Series B Financing to Advance its Cellular Agriculture Platform
GALY CO., a climate tech company pioneering the development of first-of-its-kind sustainable cellular agriculture products, announced the closing of an oversubscribed $33 million Series B financing led by Breakthrough Energy Ventures (BEV) with additional participation from new investors H&M Group and Inditex. In addition to BEV, H&M Group, and Inditex, the oversubscribed investment round was joined by repeat investors including Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC and Reaction Global. Additionally, there was participation from Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable, among others.
The funds will primarily fuel the expansion of GALY’s research and development on its innovative cellular agriculture platform and its flagship product, “GALY Cotton,” which uses 99% less water and 97% less land than traditional cotton while emitting 77% less CO2, as it advances towards pre-industrial quality and scale.
Citroniq Chemicals Closes $12 Million Series A Financing
Citroniq Chemicals LLC, a world-scale producer of carbon-negative materials, is pleased to announce the financial closing of $12 Million Series A investment. Our strategic investors were led by a large multi-national energy technology company providing large rotating equipment across oil & gas, energy and industrial customers in over 120 countries, along with a co-investment by Lummus Technology Ventures, and in partnership with the State of Nebraska. This funding will enable Citroniq to further advance the planning, design, and construction of its 1st plant in the State of Nebraska.
Citroniq will be building the world’s largest decarbonization platform that would capture and avoid 2 million metric tons per year of GHG emissions per plant. “We are delighted that our strategic investment partners have embarked on this exciting path with us, championing the decarbonization of the plastics industry which has been traditionally fossil based,” said Mel Badheka, President & Co-Founder of Citroniq.
Sustainability startup Signol raises £2.5m to harness the human factor in emissions-intensive industries
Sustainability startup Signol, which uses behavioural science to reduce emissions in shipping and aviation, has raised £2.5m from leading industry-focused investors. The investment round was led by New York-based venture capital firm TMV, which invests in legacy industries ripe for disruption, such as healthcare, the future of work, maritime, ports and mobility. The round included participation from leading industry stakeholders: Ultranav, a global diversified ship-operator, and MOL PLUS, the venture arm of Japanese shipping company Mitsui O.S.K. Lines, Ltd.(MOL). London-based venture capital firm East Innovate, which led Signol’s previous funding round, has reinvested.
ThinkCyte Secures $32 million in Series C Funding to Drive Global Expansion of VisionSort™
ThinkCyte announced the successful completion of its Series C funding round. Including the equity financing secured last November, the company raised an additional $15 million in the extension round, bringing the total to $32 million. The extension round was led by Japan Green Investment Corp. for Carbon Neutrality (JICN), KIRIN-GB Fund I L.P., and SMBC Venture Capital No. 7 Investment Limited Partnership. The company also secured a loan from Japan Finance Corporation.
This latest round brings ThinkCyte’s total funding to $91 million, reinforcing the company’s commitment to expanding the global reach of its flagship product, VisionSort™. Since its launch in June 2023, VisionSort™ has been adopted by major biopharmaceutical companies and leading academic institutions worldwide.
The new funding will drive production and manufacturing scale-up as well as help accelerate global commercial expansion. With this stable footing, ThinkCyte is poised to broaden the impact of its technologies, driving advancements in the life sciences and maintaining its leadership in innovative single-cell analysis and sorting solutions.
PuriFire Energy raises £2.7M to cut emissions by producing green hydrogen and methanol
PuriFire Energy, a Cambridge-based producer of sustainable green hydrogen and methanol solutions, has raised £2.7 million in seed funding. The round was led by HICO Investment Group with participation from Bulnes Capital, R&R Investments, and Abhishek Desai.
The company will combine the Seed investment with a £525K grant from Innovate UK to set up a pilot project by mid-2025 to convert anaerobic digestion liquid digestate and other wet feedstocks into green methanol using its patented technology.
Swiss-Mile secures over €19.8 million in seed funding, co-led by Jeff Bezos and HongShan
Swiss-Mile, a pioneering company connecting AI with the physical world using autonomous machines, announced the successful closure of over €19.8 million seed funding round. This round was notably co-led by Jeff Bezos, through Bezos Expeditions, and HongShan, with additional participation from the Amazon Industrial Innovation Fund and Armada Investment. The round also saw continued support from existing investor Linear Capital, underscoring the strong belief in Swiss-Mile’s vision and potential.
Swiss-Mile is a spin-off from the renowned Robotic Systems Lab at ETH Zurich and has been at the forefront of integrating artificial neural networks into robots with both legs and wheels. The company’s technology allows robots to walk, drive, stand upright on two legs, and manipulate objects with wheeled end effectors. This versatility is key to addressing real-world challenges in both mobility and manipulation, positioning Swiss-Mile as a leader in the next wave of robotic automation.
UP Catalyst bags €2.3M to develop sustainable battery materials from CO2
UP Catalyst, an Estonian nanotechnology startup in sustainable carbon material production, has €2.36 million in a seed extension round. This follows the initial seed round of €4 million raised late last year, bringing the total seed funding to €6.36 million.
The round saw equal participation from Warsaw Equity Group, a leading private investment firm in Central and Eastern Europe, which backed , and Estonia’s state fund SmartCap, which backed Antler’s Nordic Fund II and Bisly. In addition, existing investors – Extantia, Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures participated in the round.
The investment will accelerate the construction of its first-of-a-kind industrial production unit, positioning UP Catalyst as the largest provider of CO2-grown carbon materials globally.
Asteroid Mining Startup AstroForge Raises $40 Million
Asteroid mining startup AstroForge has raised $40 million as the company races the clock to get its next mission ready for launch. AstroForge that it raised the Series A round led by Nova Threshold, bringing the total raised by the Southern California startup to $55 million. Others participating in the round include funds 776, Initialized, Caladan, YC and Uncorrelated Ventures as well as individual investor Jed McCaleb, the billionaire who also founded commercial space station company Vast.
Matt Gialich, co-founder and chief executive of AstroForge, said in an interview that the funds will support the company’s third mission, called Vestri. The spacecraft will launch as a rideshare payload on the IM-3 lunar lander mission by Intuitive Machines in late 2025 and travel to an undisclosed asteroid. The 200-kilogram spacecraft will rendezvous with the asteroid and touch down on its surface to characterize it, including quantifying what precious metals could be extracted from it. The funds will also allow AstroForge to refine technologies for refining asteroid materials in deep space. “But the primary thing it gets us is mission three,” he said.
Power to Hydrogen snaps $18M to accelerate transition to clean energy
Power to Hydrogen, specialising in advanced electrolysis technologies, has raised over $18 million in Series A funding. The round was led by venture studio Rev1 Ventures and strategic investor Worthington Enterprises. It also saw support from global investors, including Finindus, JERA, Asahi Kasei, American Electric Power, EDP Ventures, E.ON, ESB, FH Capital, INP Capital, and others.
Trunk Tools Raises $20M Series A Led By Redpoint Ventures to Expand Suite of AI Agents for Construction
Trunk Tools, a groundbreaking AI platform disrupting the $13 trillion construction industry, announces a $20 million Series A. The new capital was led by Redpoint Ventures with participation from Innovation Endeavors, who led the Seed round, bringing the total capital raised to-date to $30M.
Trunk Tools leverages the latest in AI technology to build the “brain” behind construction. By structuring millions of pieces of unstructured project data and deploying AI agents that augment construction professionals in their administrative workflows, Trunk Tools ensures critical information is available to the right people at the right time, automating the tedious and repetitive tasks that have historically weighed on industry productivity and profitability. With Trunk Tools, construction professionals not only save time but avoid construction delays and rework that can cost tens of millions - or more - per project.
Fortera Secures $85M to Accelerate the Global Deployment of Low-Carbon Cement Production
To meet the growing demand to lower the cement industry’s carbon emissions, advanced materials manufacturer Fortera secured $85 million in Series C funding to scale the deployment of its low-carbon cement technology that integrates with existing infrastructure. The round included participation from previous investors Khosla Ventures and Temasek, and first-time investments from Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures, and Alumni Ventures. With operations at the company’s Redding ReCarb Plant underway, Fortera is positioned to move forward with additional plants that will produce ReAct® green cement, which has 70% less carbon dioxide (CO2) per ton than ordinary cement.
Fortera’s ReCarb process bolts onto existing cement manufacturing plants, captures the industrial CO2 emissions from traditional cement production, and converts it to mineral form to achieve a ready-to-use low-carbon cement. Since the company’s process integrates into established infrastructure, including feedstocks, capital investments, logistics, and sales networks, the path to wide-scale commercialization is shorter and more cost-effective. Fortera’s ReCarb technology operates at a significantly reduced kiln temperature and is compatible with renewable energy integration, which would further reduce emissions and enable zero CO2 cement production.
BeyondMath Raises $8.5 Million to Revolutionize Physics-Based Engineering with Groundbreaking AI-Powered Simulation Platform
BeyondMath, a leader in advanced engineering simulation, announced it has secured $8.5 million in seed funding led by UP.Partners, with significant participation from Insight Partners and InMotion Ventures, the investment arm of JLR. This funding supports BeyondMath’s ambitious mission to reshape engineering practices globally with its AI-driven multiphysics simulation platform, which accelerates engineering iterations by a factor of 1,000 compared to current solutions.
To help achieve this mission, BeyondMath is among the first to adopt an NVIDIA DGX H200 system to enhance the capabilities of its platform. DGX H200 systems provide advanced AI supercomputing, allowing BeyondMath to train its physics solver at industrial scales and helping it deliver even more groundbreaking solutions to its customers.
Apheros secures $1.85M to cool down data centers, using high performance cooling systems
Data centers are the backbone of the digital age, with unprecedented demand for digital infrastructure driven by the surge in the use of AI, machine learning, and supercomputing. However, their energy consumption is skyrocketing. By 2030, an estimated six percent of global energy consumption will be used specifically for cooling data centers. A shift from traditional cooling methods to more cost- and energy efficient liquid-based solutions is inevitable. Enabling this transition, deep tech startup Apheros is announcing a $1.85m funding round seizing this critical moment to introduce its innovative metal foam technology, offering a superior solution to this pressing industry challenge.
The pre-seed funding round, led by venture capital firm Founderful, will accelerate development and deployment of Apheros’ revolutionary metal foam-based cooling solutions.
The Apheros patented manufacturing process creates unique foam structures with completely open porosity and unparalleled surface area, surpassing traditional solutions by a factor of thousand, which translates into exceptional heat transfer and flow properties. Ideal for high performance cooling applications, Apheros’ metal foams are easily integrated within its customers’ existing cooling systems. They address customers’ urgent needs of reduced energy consumption and cooling costs.
HistoSonics Announces Oversubscribed $102 Million Series D Financing to Scale Launch of Non-Invasive Histotripsy Platform
HistoSonics, the manufacturer of the Edison® Histotripsy System and novel histotripsy therapy platforms, announced the completion of an oversubscribed $102 million Series D financing. The round was led by Alpha Wave Ventures, a world leader in growth stage investments, with participation from new investors Amzak Health and HealthQuest Capital, and existing investors Johnson & Johnson Innovation - JJDC, Inc. (JJDC), Venture Investors, Lumira Ventures, Yonjin Venture, the State of Wisconsin Investment Board, and others.
Histotripsy is a novel form of focused ultrasound that uses high amplitude, very short pulses to create a “bubble cloud” that is designed to mechanically destroy and liquefy targeted liver tumors. These bubble clouds form and collapse in microseconds, creating mechanical forces strong enough to destroy tissue at cellular and sub-cellular levels in a non-invasive and non-thermal method. Histotripsy offers a promising alternative to treatments such as surgery, radiation and chemotherapy, which often have significant side effects.
The Series D funding will be used to accelerate category defining advancements to its non-invasive histotripsy platforms, support commercial growth in the US and in planned global markets, and initiate the company’s innovative, prospective BOOMBOX Master Study that will evaluate HistoSonics’ Edison System for the treatment of liver tumors across multidisciplinary users. The Edison Histotripsy System was granted FDA De Novo clearance in October 2023. HistoSonics is currently partnering with leading institutions across the US and internationally in developing multi-disciplinary histotripsy liver programs.
Gauge Capital Announces Strategic Growth Investment in AGT Robotics
Gauge Capital announced that it has partnered with the founder and management team of AGT Robotics to provide growth capital and recapitalize the Company. Founded in 1992 and headquartered in Trois Rivieres, QC, AGT is a leading provider of robotic welding solutions for the structural steel and heavy metal fabrication industry. The Company’s primary products are modular, autonomous welding robots which operate on proprietary software that has been developed specifically for the structural steel and heavy metal manufacturing industry. This software enables end-users to analyze structural plans, identify each unique part used in the welding process, and determine the ideal type of weld, allowing the robot to conduct the welds with little to no human intervention.
Thintronics Inc. Closes Its Series A Extension
Thintronics Inc. closed its Series A Extension having added M Ventures, the CVC arm of Merck KGaA, TGVP, the US CVC arm of TOPPAN Holdings, and previous investor Tallwood Venture Capital to the Thintronics Series A syndicate. The series was led by Maverick Capital and Translink Capital.
Thintronics Inc. is a California-based electronic materials startup supplying high-performance insulators for emerging AI datacenter, networking, and RF/millimeter-wave (mmW) applications.
The addition of M Ventures, TGVP and Tallwood delivers significant strategic advantages for Thintronics. M Ventures brings an important partnership with Merck KGaA, one of the leading semiconductor materials providers in the market and a global player in science, technology and manufacturing worldwide. TGVP brings Thintronics into TOPPAN’s ecosystem. TOPPAN is a leading global supplier of semiconductor packaging materials and a significant user of insulator materials for the sector. Along with Tallwood, a California based long-term semiconductor investor and an early Thintronics funder, the addition of these partners provides the company with important strategic intelligence into its target markets and significant technical and innovation resources that can accelerate and compliment their commercialization efforts.
PLAIO raises €4.3 million to expand its AI planning platform for pharma industry
PLAIO, an Iceland-founded AI-assisted decision support platform for the pharmaceutical industry, has raised €4.3 million in an oversubscribed round. The round was led by Iðunn, a venture capital fund managed by Kvika Asset Management, with continued support from existing investors Frumtak Ventures and Dr. Agon.
PLAIO will use the funding to implement strategic enhancements to the platform’s ‘AI Coplanner’ offering, as well as strengthen and develop both new and existing partnerships to solidify its position as a market leader in AI pharma planning solutions.
The funding, which follows a €2.7 million million pre-Series A round in 2021 and €400k injection from the Icelandic Technical Development Fund in 2023, will be used to scale operations within the U.S. and Europe.
Promethean Particles Announces Closure of £8M Series A Investment Round
Promethean Particles announces the closing of a £8 million financing round. The investment was led by Mercia Ventures and Aramco Ventures, with participation from existing investors including the Midlands Engine Investment Fund I (managed by Foresight), the University of Nottingham, TSP Ventures, and the East Midlands Early Growth Fund (managed by the British Business Bank).
MOFs are a class of materials composed of metal ions interconnected by organic molecules to form a porous, lattice-like structure. Their unique architecture gives them an exceptionally high surface area and customizable pore sizes, which allows them to trap and store gases and liquids efficiently. This makes MOFs highly effective for applications such as gas storage and separation, carbon capture, and catalysis.
The company has developed a proprietary continuous-flow reactor that not only dramatically improves the throughput and cost of MOF production, but also increases process reliability and consistency, without sacrificing critical quality parameters. Promethean currently produces a wide portfolio of MOFs for various customer applications including carbon capture and storage (CCS), biogas upgrading, water harvesting and gas separation and storage.
General Catalyst Invests $120 Million Into Re:Build Manufacturing
Venture-capital firm General Catalyst has invested $120 million into Re:Build Manufacturing to have the startup holding 13 U.S. industrial and engineering businesses serve as a one-stop-shop for clients’ manufacturing needs and help new companies make products on American soil.
The investment comes after Cambridge, Mass.-based General Catalyst published a blog post last year outlining a thesis to back companies that could make critical systems like supply chains more resilient amid unstable geopolitics.
CruxOCM closes $23.3-million CAD Series A led by Microsoft’s venture fund
Calgary-based startup CruxOCM, which provides software that automates the operations of industrial control rooms in the energy sector, has raised a $23.3-million CAD ($17 million USD) Series A round led by M12, Microsoft’s venture fund. The round saw participation from other new investors, including natural gas company Oneok, Raven Indigenous Capital Partners, and EIC Rose Rock Fund, as well as backing from return investors including Angular Ventures, Bullpen Capital, Root Ventures, Industry Ventures, Cendana Capital, Pipeline Capital Partners, and Golden Ventures.
CruxOCM said the Series A round brings its total capital raised to date up to $37 million CAD ($27 million USD). The investment will enable CruxOCM to bring its co-pilot offering to more control rooms across the energy sector, CEO and co-founder Vicki Knott said in a statement.
RightHand Robotics Secures New Funding as Yaro Tenzer is Appointed CEO
RightHand Robotics, Inc., a leader in autonomous AI robotic picking solutions for order fulfillment, is thrilled to announce that it has secured new funding, further strengthening the company’s position in the market. In conjunction with this funding, co-founder Yaro Tenzer has been appointed as CEO, effective August 1, 2024. Former CEO Brian Owen is planning to continue his involvement as a trusted advisor and investor.
The restructuring and funding round highlight RightHand Robotics’ commitment to delivering cutting-edge solutions that drive efficiency, autonomy, and order accuracy in order fulfillment. Arunas Chesonis, a partner at Safar Partners, added, “We are excited to continue supporting the company on its journey as the obvious choice for piece-picking robotics in supply chain logistics.”
Curvalux Accelerates Global Internet Access with Strategic Investment from Pegasus Capital Advisors
Curvalux, a leading manufacturer of innovative, energy-efficient fixed wireless access (FWA) broadband technologies, announced a strategic investment from the Subnational Climate Fund, managed by Pegasus Capital Advisors. This partnership aims to help facilitate prompt production and delivery of existing orders for Curvalux’s sustainable high speed wireless products to valuable customers that are servicing communities with essential internet access, including those areas without access to electricity.
Curvalux’s suite of Point-to-Multipoint (PtMP) products includes the world’s leading high-capacity fixed wireless systems. They operate in both unlicensed 5-6 GHz frequencies (Curvalux 2) and millimeter-wave spectrum (Curvalux 3). Designed specifically for deployment in rural areas lacking electricity, these products enable Curvalux customers, including internet service providers and telecommunication companies, to prioritize sustainability and carbon emission reduction. Curvalux devices consume minimal power, enabling solar-powered operation and presenting a green alternative to power-intensive 5G technologies in extending connectivity to rural communities.
CVC Joins CD&R as an Investment Partner in Epicor
Clayton, Dubilier & Rice and CVC, announced that funds managed by CVC have agreed to acquire a significant ownership position in Epicor, a global provider of industry-specific enterprise software to promote business growth. CD&R, which first invested in Epicor in 2020, and CVC will each have equal number of Board seats, with Jeff Hawn continuing to serve as Chairman. Steve Murphy will continue in his role as CEO of Epicor. Financial terms of the private transaction were not disclosed.
Since CD&R’s acquisition of Epicor in 2020, the company recently surpassed $1 billion in annual recurring revenue (ARR) as a result of organic growth, including a successful transformation into a SaaS-first company, as well as complementary strategic acquisitions which expanded product capabilities and geographic reach. Epicor’s SaaS transformation and 45% annual growth in SaaS ARR have been powered by significant R&D and Go-to-Market investments, while laying the groundwork for further innovation. In May 2024, Epicor unveiled its new Epicor Grow portfolio, an integrated set of artificial intelligence (AI) and Business Intelligence (BI) capabilities powered by an industry-focused data platform tuned specifically for the requirements of the Make, Move, and Sell industries. The company’s portfolio redefines how AI-powered ERP software serves the supply chain industries and their workers, and includes Epicor Prism, a patent-pending generative AI service embedded across Epicor’s Industry ERP Cloud solution.
Alaska Airlines announces investment in JetZero to propel innovative aircraft technology and design
Alaska Airlines announced an investment in JetZero, a pioneering company developing a new blended-wing body (BWB) aircraft that will provide up to 50% less fuel burn and lower emissions. The investment reflects Alaska’s commitment to advance new technology that will benefit the future of aviation, including those that enable the airlines’ path to net zero carbon emissions. Alaska invested as part of JetZero’s Series A last year and is the first airline to do so.
The investment, which includes options for future aircraft orders, was made through Alaska Star Ventures (ASV), the airline’s investment arm whose purpose is to influence the future of the aviation industry. ASV is focused on identifying and enabling the technologies that can help Alaska reach its ambitious goal of net zero carbon emissions by 2040. This initiative is one piece of Alaska’s comprehensive sustainability strategy along with operational efficiency, fleet renewal, sustainable aviation fuel, waste reduction, and electrified aircraft.
Railcar startup Intramotev raises $14M
Intramotev closed a $14 million Series A round for battery-powered autonomous railcars, the company tells Axios.
Why it matters: Rail has been an overlooked area for tech innovation, but electric and autonomous technologies could help the rail sector cut diesel use.
How it works: Rail customers buy the railcars as a retrofit to existing trains, and also get the accompanying software, sensors and interfaces.
ITpipes Secures $20 Million to Transform Water Infrastructure Management with AI and Cloud Solutions, Ensuring Safer, Healthier Communities
ITpipes, the established leader in pipeline inspection software, announced it has secured $20 million in equity financing from Trilogy Search Partners and Miramar Equity Partners. Known for its trusted and user-friendly platform, ITpipes streamlines infrastructure management, making sewer and storm system compliance and oversight more efficient, accurate and cost-effective. This results in safer, cleaner communities.
With this investment, ITpipes will accelerate innovation for municipalities, ensuring continued growth and enhanced client offerings. Specifically, the funding will allow ITpipes to scale its operations, elevate customer service and develop new products, such as advanced AI-driven condition assessment technology for managing underground infrastructure.
Advent International to invest in SYSPRO, a global provider of manufacturing and distribution software to enhance innovation and growth
Advent International, one of the world’s largest and most experienced private equity investors, announced that it has entered into a definitive agreement to invest and acquire a majority ownership stake in SYSPRO, a leading global ERP software provider for the manufacturing and distribution industries. Founded in 1978, SYSPRO currently employs around 400 people globally and serves customers across six continents, with headquarters in the UK and South Africa.
Advent is an experienced software investor with investments in ERP, financial and manufacturing software. Recent investments in the sector include Aareon, a European provider of Software-as-a-Service (SaaS) solutions for the property industry; Unit4, a global cloud ERP software vendor; Medius, a global leader in AP automation, B2B payments, sourcing and procurement software; and Prometheus Group, a global provider of enterprise asset management software. In addition to a 34 year track record in technology investing, Advent brings a depth of experience in the manufacturing and industrial space, having invested $21bn within the sector globally in the last 33 years.
Holman Acquires a Minority Stake in FM Capital
FM Capital, a venture capital firm focused on early-to-mid stage technology companies transforming the automotive and transportation industries, announces that Holman, a global automotive services leader, has acquired a minority interest in FM Capital. This is the first time an integrated automotive services organization has acquired a general partner interest in an automotive VC.
Guidewheel raises $31M Series B to scale AI-powered FactoryOps across factory floors globally
Guidewheel, the leader in AI-powered FactoryOps, raised an oversubscribed $31 million Series B funding round led by Decarbonization Partners, a partnership between BlackRock and Temasek. Ecolab, Rethink Impact, and GSBackers also participated in this round, alongside existing investors Greycroft and Breakthrough Energy Ventures (BEV), among others.
Guidewheel provides the first way to bring AI to the factory floor at scale—every machine, in every factory. Inspired by the universal truth that every machine on the factory floor uses power, Guidewheel starts with non-invasive sensors that simply clip like a smartwatch on the power draw of any machine to bring its real-time “heartbeat” into a connected, AI-powered FactoryOps platform. Guidewheel empowers teams to reduce lost production time, increase efficiency, and enhance performance over time, delivering fast, concrete ROI through its technology, with customers reporting an average of 41% more production from their existing assets. Within the same FactoryOps platform, Guidewheel builds in all the tools manufacturers need to track and manage energy and carbon towards sustainability goals.
Guidewheel’s recent momentum has been marked by acquiring some of the world’s leading manufacturers as customers, including General Motors, Igloo, Kimberly Clark, JELD-WEN, DRiV/Tenneco, CEMIX, TricorBraun, Reliance Steel & Aluminum, Madison Industries, BorgWarner, U.S. Steel, Berry Global, Myers Industries, and Johnson & Johnson.
AI Innovator UptimeAI Raises $14M to Drive North American Expansion
UptimeAI, the world’s first AI-based plant monitoring software for industrial businesses announces it has raised $14 million in Series A funding to boost its North American operations. WestBridge Capital led the round, with participation from Emergent Ventures and Aditya Birla Ventures.
This latest round of funding will significantly support UptimeAI’s rapid expansion plans across North America and will help position the company as the market leader in boosting efficiency and reliability in U.S. manufacturing and processing sectors.
Shinkong Invests $10M in Ambercycle's New Facility to Commercialize Circular Polyester Innovation
Shinkong Synthetic Fibers Corporation, a global leader in polyester production, has invested $10 million in Ambercycle’s first state-of-the-art commercial facility. Shinkong’s contribution to the leading material science company’s facility will help expand global production capacity for its premium material made from end-of-life textiles. It builds on three years of collaboration that harnessed Ambercycle’s molecular regeneration technology and Shinkong’s extensive experience in the premium polyester market to jointly manufacture regenerated yarns and meet the growing demand for cycora® material.
Collo secures €5M to lower emissions from dairy plants
Collo, a Finnish startup offering IoT analysers for optimising industrial liquid processes, has just raised €5 million in growth financing. It was co-led by Swedish SEB Greentech Venture Capital and Dutch deep tech investor FORWARD.one (which backed Rocsys and Sensorfact) and joined by an existing investor, Danish deep tech investor Scale Capital.
This investment will allow Collo to expand its solution globally, helping its client to achieve their strategic goals for reducing their emissions and improving their sustainability.
Currently, there is a growing pressure and demand for sustainable operations and concrete actions. At this point in time, Collo provides an advanced, yet scalable and easy-to-use solution for dairy and beverage plants to meet these demands. Its technology is a combination of new sensor technology, based on electromagnetic sensing technology, and advanced analytics and machine learning. Its unique benefits are that the same sensor can be used everywhere across the plant, regardless of the liquid’s properties.
Kognic secures €8.8M to help machines make sense of the world using data
Gothenburg-based Kognic, an annotation platform helping global enterprises produce and verify sensor-fusion data for high-performing and safe AI, has secured SEK 100M (€8.8M) in funding. The round saw investment from existing investors including Metaplanet, Neudi Kapital and Stena Sessan.
Kognic specialises in enabling Embodied AI, which powers physical devices like autonomous vehicles and robots to interact with the real world. The company focuses on the critical role of data in AI development, providing a platform for annotating sensor-fusion data from cameras, LiDARs, and radars.
Robot Maker Deep Robotics Completes Series B+ Funding Round
Deep Robotics, a Hangzhou-based AI robotics company, has recently announced the completion of its Series B+ funding round. The funds raised will be primarily used for new product development, continuous innovation in cutting-edge technologies, expansion in domestic and international markets, and the recruitment of top talents. The company is also pursuing opportunities within the AI-powered humanoid robot sector. In 2024, Deep Robotics launched the J80 and J100 robot joints, featuring ultra-high torque, industry-grade applications, and high protection levels, providing essential power for humanoid robots.
Currently, Deep Robotics has established long-term, in-depth collaborations with industry giants such as State Grid, Southern Power Grid, Baosteel, and Fluke.
InventWood Raises $8 Million and Appoints Tyler Huggins as CEO as It Prepares For Early 2025 Commercial Launch
InventWood, transforming undervalued wood into high-performance climate-resilient Superwood building products that are stronger and lighter than steel, announced $8 million in new funding and the appointment of Tyler Huggins, Ph.D. as its new Chief Executive Officer. The company is planning its commercial launch in early 2025 with two key priorities: establishing its scaled supply chain to ensure every tree used is chosen purposefully to improve the health and longevity of our forests, and commissioning the company’s pilot production facility capable of profitably producing up to one million square feet of product annually. InventWood’s proprietary technology stack transforms wood’s intrinsic nano-cellulose structure – nature’s strongest material – into climate-resilient Superwood products that offer unrivaled fire, insect and rot resistance with bulletproof hardness, while maintaining highly desirable wood aesthetics. With superior strength at low cost, InventWood is on a mission to displace some of our dirtiest industrial materials like steel and concrete, evolving our built environment from a carbon source to a carbon sink, all while improving the health and resilience of our forests.
By applying the company’s automated and advanced manufacturing, InventWood is preparing for early 2025 availability of its Superwood products. The company’s pilot manufacturing facility in Frederick, Md. will be capable of producing diverse finishing and structural applications.
SYSO Secures $14.5 Million in Series B Funding Led by Kimmeridge to Accelerate Market Operations for the Energy Transition
SYSO, a leading market operator of renewable energy and battery storage assets, announced the successful completion of its Series B funding round, raising $14.5 million.
The round was led by Kimmeridge, an alternative asset manager specializing in the energy sector, out of its Kimmeridge Carbon Solutions strategy, with participation from existing SYSO investor Lacuna Sustainable Investments. This investment empowers SYSO to expand its offerings into new markets, while continuing to drive improved operational and financial outcomes for developers and independent power producers that are advancing the energy transition across the power sector.
VSParticle raises €6.5 million for next-generation material discovery printers
VSParticle (VSP), a leading supplier of nanoparticle synthesis and deposition tools, has raised a €6.5 million A2 extension round led by NordicNinja and previous investor Plural to continue its mission to unlock a century of material innovation in the next 10 years.
VSP’s technology enables materials to be broken down to the size of nanoparticles and produced at the push of a button, allowing university researchers and commercial R&D teams to experiment to create new materials that will power next-generation products. It can take up to 10 years to discover new materials in a lab and a further five to bring them to mass production, but VSP’s technology is supporting teams to reduce the overall time of material discovery down to only one year.
The new funding, which also included participation from previous investor Hermann Hauser Investment, brings the total raised by VSParticle to €24.5 million. The fresh capital will be used to further the development of the startup’s technology so its next-generation printers have up to 100 times higher output and will also support the company in expanding to Japan and doubling down in the US and Europe.
Miru closes $27.4-million CAD Series A as smart windows startup prepares to launch in 2025
Vancouver-based startup Miru has announced $27.4 million CAD ($20 million USD) in Series A financing as it looks to accelerate the commercialization of its electronically tintable window technology.
The all-equity round, which closed July 2024, was co-led by BDC Capital, the investment arm of Crown corporation the Business Development Bank of Canada (BDC), and Angelo Paletta, president and CEO of Ontario-based TNG Capital Corp. The deal also saw participation from Toronto cleantech-focused venture capital firm Greensoil. Miru’s spokesperson noted there were other participants in the Series A round, but declined to disclose names.
Miru is led by CEO and co-founder Curtis Berlinguette, a professor of chemistry and biological engineering at the University of British Columbia (UBC). Berlinguette’s research group at UBC focuses on exploring and discovering advanced materials for high-performance, low-cost alternative energy technologies. He was inducted into the Royal Society of Canada for his work in 2021.
Miru is designing three demonstration plants in North America and Europe, with two additional plants currently in development. The new funding will be allocated to invest in Miru’s automotive glass roofs and support the construction of new pilot lines in North America and Europe. Pilot lines refer to small-scale industrial setups used to test and refine manufacturing processes before they are implemented on a full production scale.
IONETIX closes financing led by Tees River and Eli Lilly and Company
IONETIX Corporation, a leading cyclotron technology innovator and isotope manufacturer for diagnostic and therapeutic applications, announced a financing which included Eli Lilly and Company, as well as existing shareholders of the Company led by Tees River Limited.
The financing follows prior Actinium supply and convertible debt agreements with POINT Biopharma, which has since been acquired by Lilly. The financing underscores the robust strategic interest in Ionetix’s differentiated technology and the Company’s continued leadership in isotope manufacturing.
With this financing, the company meaningfully extends its cash runway to fund continued development of its core technology offerings and expansion of the current cyclotron network in support of its strategic growth plans in the late-stage clinical and commercial settings. Capitalizing on the growth derived from new therapeutics programs, Ionetix aims to fill the market need resulting from the capacity-constrained isotope manufacturing landscape.
Anduril Raises $1.5 Billion to Rebuild the Arsenal of Democracy
Anduril Industries announced it has secured $1.5 billion of funding for its Series F round to hyperscale defense manufacturing. This funding will enable Anduril to increase hiring, enhance processes, upgrade tooling, increase resiliency in its supply chain and expand infrastructure. Anduril is also investing in Arsenal, the manufacturing platform for modern warfare. With Arsenal, Anduril’s goal is to manufacture and produce tens of thousands of autonomous weapons systems addressing the urgent needs of the United States and our allies.
Co-led by Founders Fund and Sands Capital, Anduril’s Series F values the company at $14 billion and includes new investors Fidelity Management & Research Company, Counterpoint Global, and Baillie Gifford, as well as major commitments from existing investors including Altimeter and Franklin Venture Partners.
Datch Closes $15M Series A
Datch, a pioneer in AI technology for frontline manufacturing, energy and utility sectors, announced the closing of its $15M Series A via an extension led by Third Prime. The fundraise coincides with the launch of Datch’s latest product offering, Asset Insights. Third Prime, a leading venture firm focused on the industrial technology space, led the latest round of funding, and is joined by existing investors including Blackhorn Ventures, Blue Bear Capital and Susquehanna Investment Group. Datch plans to use this funding to invest in market expansion within the enterprise while increasing capabilities within the Asset Insights toolkit.
Datch’s Asset Insights leverages breakthroughs in LLM and graph technology so organizations can turn the unstructured, disparate information within their ecosystem into actionable insights that improve operational outcomes. As the latest installment of Datch’s Frontline Intelligence Platform, it represents the next step in the company’s mission to empower operations that accelerate the world’s economy.
Adept Materials raises first tranche of $4M seed round to commercialize building moisture control technology
Adept Materials, an advanced materials startup, has announced the first closing of a $4M seed round. This equity funding will help bring its patented directional moisture control technology to market. In particular, the investment will fuel the commercial launch of its first product, an advanced interior wall paint and primer system, and the development of a directional water-resistive barrier product.
The round is led by D.R. Horton and PulteGroup, two of North America’s largest homebuilders, joined by Massachusetts Clean Energy Center (MassCEC), a state-run economic development agency, and Point Cove LLC, an investment firm.