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BGF invests in North East Tech Business

BGF

BGF has completed a multi-million pound investment for a minority shareholding in a Teesside-headquartered Engineering Information Management (EIM) software company, Datum360, to accelerate growth and address significant market demand.

Datum360’s software platform connects disparate systems, providing a trusted data backbone which manages the life cycle of critical engineering and asset management data for a range of blue-chip customers from the fields of energy, mining, utilities, road and rail infrastructure.

The fast growth technology company was founded by CEO Steve Wilson, alongside CTO Dave Mitchell and CFO James Michael. The management team have a combined 50 years’ experience working within large engineering and design firms where they cultivated a deep understanding of data management in major capital projects.

The pioneering North East company has offices in Australia and plans to open a US base in 2021. It has a global reach and is undertaking projects in North America, Europe, Asia and Australia.

Datum360 counts organisations such as BP, Total and BHP among its customers. BGF’s investment will help to unlock its expansion and allow the business to build on the fast growth it has experienced to date.

Commenting on the investment, CEO Steve Wilson said “Datum360 has built a reputation for delivering, at speed and globally, our cloud based Connected Data platform for Engineering Information. Working with energy, mining, utilities and infrastructure clients, we are excited to see the demand for data become more distinct and more urgent. Our capability delivers the critical data foundation and backbone which underpins our clients evolving approach to BIM and building and maintaining their Digital Twins.”

“BGF’s investment team and their expertise in supporting the scale-up of technology businesses like ours is invaluable to the next stage of our growth. Having first met BGF in September this year, we have been impressed with the pace to get the deal to completion. The BGF team were quick to understand our business and market opportunity and we look forward to working together to achieve our shared ambitions.”

BGF opened a Newcastle office in 2018 and has invested in a number of innovative fast-growing North East companies, such as Sunderland-based SaleCycle – a behavioural marketing technology company – and Alnwick-headquartered Arcinova, a life sciences business.

Chris Boyes from BGF led the deal. Chris said: “Datum360 is a fine example of a North East business with a market-leading product which has significant global potential. With the growth plan and opportunity for the business clear, we were able to deploy capital very quickly. We already have a number of successful investments in the North East and are looking to back more businesses in the region.”

“We recognise that business owners are trading in a very tough economy and we believe that equity investment can be a solution for supporting progressive entrepreneurs’ growth ambitions, as well as playing a vital role in driving economic recovery.”

 

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Europe is on its way to quantum leadership: IQM raises €39 M in Series A funding

OpenOcean

ESPOO, Finland, 10th November 2020

IQM Quantum Computers (IQM), the European leader in building superconducting quantum computers, today announced that it has raised €39 M in Series A funding, bringing the total amount of funding raised to date to €71 M.

This ranks among the highest fundraising rounds by a European deep-tech startup within a year. MIG Fonds has led this round, with participation from all existing investors including Tesi, OpenOcean, Maki.vc, Vito Ventures, Matadero QED. New investors Vsquared, Salvia GmbH, Santo Venture Capital GmbH, and Tencent, have also joined this round.

“IQM has a strong track record of research and in achieving high growth. They continue to attract the best global talent across functions and have exceeded their hardware and software milestones. We are thrilled to lead this round and continue to support IQM as the company accelerates its next phase of business and hardware growth,” said Axel Thierauf, Partner at MIG Fonds, and Chairman of the Board of IQM.

Since 2019, IQM has been among the fastest-growing companies in the quantum computing sector and already has one of the world’s largest quantum hardware engineering teams. This funding will be used to accelerate IQM´s hardware development and to co-design application-specific quantum computers. A significant part of the funding will also be used to attract and retain the best global talent in quantum computing, and to establish sales and business development teams.

”Today’s announcement is part of our ongoing Series-A funding round. I am extremely pleased with the confidence our investors have shown in our vision, team, product, and the ability to execute and commercialize quantum computers. This investment also shows their continued belief in building the future of quantum technologies. This is a significant recognition for our fantastic team that has achieved all our key milestones from the previous round. We’re just getting started,” said Jan Goetz, CEO of IQM.

“It is impressive to be a part of the IQM journey and see the progress of their technology. We’re proud to see another startup from Finland making a global impact. IQM will have a lasting impact on the future of computing, and consequently will help solve some of the global challenges related to healthcare, climate change and development of sustainable materials among many others,” said Juha Lehtola, Head of Direct VC Investments at Tesi (Finnish Industry Investment).

IQM delivers on-premises quantum computers for research laboratories and supercomputing centers. For industrial customers, IQM follows an innovative co-design strategy to deliver quantum advantage based on application-specific processors, using novel chip architectures and ultrafast quantum operations. IQM provides the full hardware stack for a quantum computer, integrating different technologies, and invites collaborations with quantum software companies.

“We want to invest in deep technology startups that shape the future and advance society. IQM is the perfect example of a company that is on top of its game; their work on quantum computing will make an impact for generations to come,” said Herbert Mangesius, Founding Partner at Vsquared and Vito Ventures.

While quantum computing is still under development, governments and private organizations across the world are investing today to retain their competitive edge and become quantum-ready for the future.

The next decade will be the decade of quantum technology, and we will see major breakthroughs with real-world applications using quantum computers in healthcare, logistics, finance, chemistry and beyond.

About IQM Quantum Computers:

IQM is the European leader in superconducting quantum computers, headquartered in Espoo, Finland. Since its inception in 2018, IQM has grown to 70+ (TBC) employees and has also established a subsidiary in Munich, Germany, to lead the co-design approach. IQM delivers on-premises quantum computers for research laboratories and supercomputing centers and provides complete access to its hardware. For industrial customers, IQM delivers quantum advantage through a unique application-specific co-design approach. IQM has also received a €3.3 M grant from Business Finland and has been awarded a €15 M equity investment from the EIC Accelerator program.

For more information, visit www.meetiqm.com.

Registered office:

IQM Finland Oy
Keilaranta 19
02150 Espoo
FINLAND
www.meetiqm.com

Media Contact:

Raghunath Koduvayur

Head of Marketing and Communications

Raghunath@meetiqm.com

+358504876509

Additional investor quotes:

” We are proud once again to invest in IQM. Quantum computing processors are on the edge of our core scope of investing in scalable B2B software businesses, but this opportunity was too big to miss. We need a strong quantum eco-system to address the next generation of data-intensive computations, which cannot be created without the fastest and most robust quantum machines for real world applications provided by IQM. This is where IQM can be the step change that will foster the future of the industry,” said Ekaterina Almasque, Venture Partner at OpenOcean.

“IQM is a game-changer — a company that can play a leadership role in quantum computing, and one that will have a huge positive impact across the world. Quantum computers will also help us with our sustainability goals. We are thrilled to continue to support their ambitious vision,” said Ilkka Kivimäki, Partner at Maki.vc.

“IQM’s technical innovation, world-class scientific team and drive in building quantum computers have made them a European leader in the quantum computers field. We look forward to supporting them in commercializing quantum computing and achieving more milestones in future,” said Dr Ling Ge, Chief European Representative at Tencent.

“IQM’s seasoned technical and commercial team, long-term focus on quantum technology for global markets fits in well with our new fund’s focus areas. They have created leading technology from Europe and we are proud to join this round,” said Helmut Jeggle, Founding Partner and Managing Director at Salvia GmbH.

”We believe in partnering with exceptional founders building the next generation of deep-tech global businesses. IQM has done a fabulous job in attracting the best talent and are solving real problems with their innovative approach. Quantum computing is definitely the future,” said Johannes Froehling, Deeptech investment activities at Matadero QED.

About the investors:

MIG Fonds: https://www.mig.ag

OpenOcean: https://openocean.vc

Maki.vc: https://maki.vc

Tesi (Finnish Industry Investment Ltd): www.tesi.fi

Vito Ventures: http://vito.vc

VSquared Ventures: https://www.vsquared.vc

Tencent: https://www.tencent.com/

You can also download our press releases here:

IQM Series A press release – French

IQM Series A press release – Finnish

IQM Series A press release – German

IQM Series A press release – English

IQM Series A press release – Swedish

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AlgoTherapeutix raises €12M to take ATX01 into clinical development in chemotherapy-induced peripheral neuropathy

Omnes Capital

France-based biotechnology company AlgoTherapeutix, the developer of an innovative topical treatment for chemotherapy-induced peripheral neuropathy (CIPN), has raised €12M in a Series A round led by Bpifrance through its InnoBio 2 fund with co-investor Omnes. Existing and new business angel investors, also significantly participated in this financing round. The proceeds will be used to fund the clinical development of its lead candidate ATX01 up to clinical proof of concept.

Over the last two years, AlgoTherapeutix took ATX01 from exploratory prototype to final formulation, established its pharmacological profile, conducted a full pre-clinical toxicology package, and scaled-up manufacturing to enable clinical supply production. In parallel, AlgoTx firmed-up ATX01’s development pathway via a pre-IND consultation with the FDA and obtained an Orphan Drug Designation from the FDA to explore ATX01’s activity in erythromelalgia. ATX01 is due to enter Phase I clinical trials in early 2021.

Inspired by clinical experience at a specialized pain treatment center, AlgoTherapeutix’s ATX01 targets topical treatment of CIPN by repositioning amitriptyline into a suitable topical formulation. The body of data from ATX01’s pre-clinical development now provides the pharmacological explanation for encouraging exploratory clinical observations with a precursor formulation published in early 2019.

Over half of cancer patients treated with chemotherapy develop CIPN and experience sensory symptoms and pain in the hands and feet:  loss of sensitivity, tingling, burning, cold and intense pain can persist for months to years after treatment. CIPN can prevent patients from walking or using their hands, thus deeply affecting their quality of life.

CIPN is found in over two million patients in the US and Europe, a leading cause for modification or interruption of chemotherapy. To this date, no therapeutic approach has offered a satisfactory response for patients and their caregivers, oncologists and pain specialists.

Stéphane Thiroloix, Founder & CEO of AlgoTherapeutix, says: “I am thrilled that such high-profile partners as Bpifrance and Omnes decided to support ATX01’s development journey towards a genuine relief for countless patients around the world.”

Thibaut Roulon, Investment Director at Bpifrance commented: “CIPN is a considerable unmet medical need. We are enthusiastic about AlgoTherapeutix’s innovative and pragmatic approach, which could significantly improve the quality of life for many cancer patients”.

“The AlgoTherapeutix team displayed scientific and operational strength in the early development of ATX01 and we are confident in their ability to establish the product’s clinical efficacy and safety going forward”, stated Claire Poulard, Principal at Omnes Capital.

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Opteran Secures £2.1m in Seed Funding to Solve Autonomy Using Natural Intelligence Inspired by Insects

IQ Capital

Sheffield UK, 24 November 2020 – Opteran, the Natural Intelligence company, has raised £2.1 million in seed funding. Opteran will use the funds to pioneer its radical lightweight, low cost silicon-based approach to autonomy called Natural Intelligence and expects its technology will significantly expand the potential addressable market for autonomy in machines and robotics.

The round was led by IQ Capital with Episode1, Join and Seraphim Capital also participating. Following on from a pre-seed round from the Connecting Capabilities Fund of the British Business Bank, the latest funding round also includes angel investors and a CCF grant, a part of the Northern Triangle Initiative .

Opteran is a University of Sheffield spin-out based on eight years of research by Professor James Marshall and Dr. Alex Cope into insect brains as part of the Green Brain and Brains on Board projects. Although insects have smaller brains, they are still capable of sophisticated decision making and navigation using optic flow to perceive depth and distance. This is a far more efficient, robust and transparent way to achieve autonomy than current Deep Learning techniques enabling Opteran to reverse-engineer insect brains to produce algorithms requiring no data centre or extensive pre-training. It means Opteran can mimic tasks such as seeing, sensing objects, obstacle avoidance, navigation and decision making and in a recent trial they were able to control a sub-250g drone, with complete onboard autonomy, using fewer than 10,000 pixels from a single low-resolution panoramic camera.

Weighing approximately 30g, and integrating Opteran technology drawing less than a watt of power, the Opteran Development Kit (ODK) will enable the technology to be integrated into a wide variety of applications in the robotics market, which is expected to grow to $77 billion by 2022(1). Opteran’s technology will transform the use case for a wide variety of autonomous vehicles, drones, mining robots and even off-planet vehicles, as it will enable real-time autonomous decision-making. In the next 18 months Opteran will use this seed funding to build out functionality in the algorithms and chipsets, including launching Opteran Sense for obstacle avoidance and reactive navigation, Opteran Direct for SLAM, Opteran Decide for autonomous decision-making, and Opteran See – a 360 degree camera. It will also look to expand its engineering and commercial team, and is currently launching a Development Kit to enable partners to embed its technology in their applications.

David Rajan, CEO, Opteran, commented: “2021 will be the year when Natural Intelligence will challenge deep learning in solving some of the most fundamental short-comings in autonomous applications and this funding round will set Opteran on a path to be at the forefront of this next wave. Already in a position to demonstrate the technology, we are confident that Natural Intelligence will become highly sought after as the way to deliver lightweight, low-cost and effective autonomy in a radically new way that will open up huge growth opportunities for robotics.”

Ed Stacey, partner at IQ Capital said: “We are hugely excited to be working with Opteran, as Natural Intelligence adds a whole new dimension that will transform the way in which we create intelligent machines – starting with the design of more efficient silicon brains for robots and autonomous vehicles. We are delighted to be supporting them at the start of their commercial journey and are excited to see the technology they create and the role it plays in the wider AI market in the years ahead.”

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Porotech launches groundbreaking micro-LED product

IQ Capital

4 November, 2020 – University of Cambridge spin-out Porotech has today announced the launch of its first product based on its breakthrough gallium nitride (GaN) production technique that is set to transform the electronics industry. The company has launched the world’s first commercial native red LED epiwafer for micro-LED applications.

Micro-LED display technology offers a huge improvement on standard display panels due to its optimum brightness, efficiency and image definition, as well as improved lifetime. These benefits are crucial for near-to-eye applications such as augmented reality (AR) and head-mounted displays – a market predicted to be worth tens of billions of dollars over the next five years. They are also key for a range of other applications – from large area displays and TVs to mobile phones and wearable devices such as smartwatches. But, until now, achieving the necessary high-efficiency, ultra-fine-pitch red pixels has proved a challenge.

Traditional red LEDs are largely based on aluminum indium gallium phosphide (AlInGaP) materials. This means they show a drastic efficiency drop as the device size decreases due to their large carrier diffusion lengths and high surface recombination velocity.

Porotech’s unique production process has enabled the creation of a new class of porous GaN semiconductor materials that is redefining what is possible. As a result, the company is now the first to launch a commercially available native red indium gallium nitride (InGaN) LED epiwafer for micro-LED applications.

“Micro-LED displays using GaN-based material technology are widely seen as the only technology that can deliver displays bright and efficient enough to meet the requirements of AR,” said Porotech CEO and co-founder Dr Tongtong Zhu. “With AR glasses expected to one day replace smartphones – or at least reduce our interaction with the devices in our pockets – development of advanced materials to improve performance is crucial.

“Integration of AlInGaP red and indium InGaN green and blue LED displays in a module with micron-scale pixels is extremely challenging as high surface recombination velocities in AlInGaP devices make this material unsuitable for efficient micro-LEDs. Our breakthrough extends the emission range of InGaN LEDs to meet the performance needs of the red display, whilst delivering the ability to scale wafer size required by micro-LED semiconductor display technology.”

GaN is a material poised to make an impact across electronics and optoelectronics – from efficient power transistors and lasers to quantum devices, sensors and solar cells – and the introduction of porous architectures can extend its capability in all these realms. Porotech’s product fits within existing industry standards and processes. The proprietary technology is robust but also flexible enough to be tailored to the needs of different applications. Porotech’s native red InGaN micro-LEDs have a wavelength of 640 nm at 10 A/cm2, and improved performance over conventional AlInGaP and colour-converted red at very small pixels and pitches.

Earlier this year, Porotech secured a £1.5 million seed round investment co-led by Cambridge Enterprise, the commercialisation arm of the University of Cambridge, and IQ Capital Partners, with the additional participation of Martlet Capital and a syndicate of angel investors from Cambridge Angels and Cambridge Capital Group.

ENDS

Notes for editors

Porotech is a gallium nitride (GaN) material technology developer and a spin-out from the Cambridge Centre for Gallium Nitride at the University of Cambridge. The company focuses on the development of high-performance and energy-efficient wide-bandgap compound GaN semiconductors by applying cutting-edge material technologies and solutions to unleash the full potential of GaN to revolutionise the electronics industry. For more information, visit: www.porotech.co.uk

Originally published here.

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American Seafoods backer Bregal joins Nutreco in land-based salmon farming investment

Bregal Partners

 

Private equity group Bregal joins one of the world’s largest feed companies and others in a private placement ahead of a potential IPO, top executives at the project told IntraFish.

Netherlands-based Nutreco, one of the world’s largest aquaculture feed producers, has joined German-owned private equity group Bregal Partners, a key investor in US firms American Seafoods and Blue Harvest Fisheries, in anchoring a private placement into a massive land-based salmon farming project to be built in Nevada.

The private placement, which also includes funding from land-based salmon farming equipment supplier AquaMaof and investment group Beach Point Capital Management, secures enough financing for the group to begin detailed design, planning and fundraising activities for its 50,000-metric-ton project, which it hopes to start in mid-2021 [intrafish.com], the two executives spearheading the project told IntraFish.

West Coast Salmon CEO Johan Henrik Krefting and chairman Hallvard Muri have been developing the recirculating aquaculture system (RAS) project for over a year, and said bringing Nutreco and Bregal on as anchor investors was a hard-fought milestone, particularly in the COVID era.

“Obviously its hard work attracting the right quality investors to evaluate and finally commit to a very capital intensive greenfield project,” Krefting told IntraFish.

“This is the result of five to six months of exceptionally extensive due diligence work on the project and the business plan.”

The first two to three months after Krefting, Muri and CFO Karl Johan Standal joined in late 2019 were spent developing a detailed project plan, which it first took to Nutreco for initial discussions.

“Nutreco has obviously an industrial interest in the salmon farming sector and in land-based,” Krefting said.

The project is the latest in Nutreco’s continued push to advance the land-based salmon farming sector, which it sees as a huge potential segment for subsidiary Skretting’s future sales.

Prior to its West Coast Salmon investment, Nutreco took a stake in Nordic Aqua Partners, a land-based salmon farming project near Shanghai [intrafish.no], as well as Kingfish Zeeland, a Netherlands-based kingfish farming group currently planning farming operations in the United States [intrafish.com].

As part of its investment, Skretting will provide specially formulated RAS feed for the project.

Muri calls the Bregal investment “a bit of a coincidence,” based on casual discussions at the end of 2019.

The two investments were run in a structured process without Nutreco or Bregal knowing about the other partner at the outset.

Bregal’s stake in West Coast is the private equity fund’s first direct investment into the salmon farming sector, and is a pivot from the group’s current portfolio, which includes a significant stake in wild fisheries harvesters and processors American Seafoods [intrafish.com], the largest holder of at-sea Alaska pollock quota, and Blue Harvest Fisheries, a leading producer of wild scallops and groundfish on the US East Coast.

Bregal, the private equity arm of German retail, real estate and investment group COFRA, has around $1.25 billion (€1.1 billion) under management.

Bregal recruited two executives from its portfolio to join the West Coast Salmon board of directors: Blue Harvest Fisheries CEO Keith Decker and Bristol Bay Seafoods CEO Amy Humphreys [intrafish.com]. Both executives sit on the American Seafoods board, and Humphreys has held an equity stake in the group since 2015 [intrafish.com]. Both executives will also take an equity stake in West Coast Salmon, according to Muri and Krefting.

Muri and Humphreys are also both former American Seafoods executives, and have worked with Kjell Inge Rokke-owned Aker Group companies as executives or board members.

Artist’s rendering of West Coast Salmon’s proposed land-based operation in Pershing County, Nevada. Photo: West Coast Salmon

·       Land-based salmon fever

West Coast Salmon’s private placement caps a stunning run of investment into the exploding land-based salmon farming sector [intrafish.com]. Since mid-summer, two land-based salmon farming companies, Salmon Evolution [intrafish.com] and Andfjord Salmon [intrafish.com], have listed on the Oslo Stock Exchange’s Merkur Market, and two others – AquaCon, another US land-based salmon farming project, [intrafish.com] and Proximar Seafood, a Japan-based project backed by Grieg Seafood Chairman Per Grieg [intrafish.com] – are planning to list in the coming months.

In addition, seafood companies including Korean giant Dongwon [intrafish.com], and Japanese groups Nippon Suisan Kaisha (Nissui) and Marubeni [intrafish.com] have all invested into the sector.

More than 1 million metric tons of land-based farmed salmon has been proposed for production, though only a fraction of that will likely receive financing and even less will actually come to market, experts agree.

Krefting and Muri note that the risk of the projects underscores the need for a strong management team, excellent site selection and patient investors.

“It’s not possible to initiate the development of this kind of industrial-scale project without having a solid fundamental platform in place, here under strong and competent partners on the capital side,” Krefting said.

·       Operations first, IPO next?

The West Coast Salmon project ultimately hopes to reach a 50,000-metric-ton production capacity, with a first phase production of 12,600 metric tons.

Though the group will consider an initial public offering (IPO) in late 2021 or early 2022, Muri said that’s a board decision that will come after it completes its second phase of financing.

“Our focus is 100 percent on the execution side right now,” he said. “We want to finalize all engineering and build the team before construction starts.”

With the first harvest planned for the end of 2024, and given the average 22-24-month egg-to-harvest time for land-based salmon, the timeline for getting the project operational from a biological standpoint is roughly two years away.

However, Krefting noted that construction doesn’t need to be 100-percent finalized when eggs are introduced into the system.

“We have a plan that is extremely well-controlled from a risk perspective, in terms of introducing biology into the system during the construction period,” he said.

Krefting noted that Nutreco and Bregal were perfect fits for the group in part because they understand the early-stage nature of the land-based salmon sector.

“It’s an immature industry in the early phase development and investors like Nutreco and Bregal are very aware of the challenges that we will face, and what’s important to focus on in terms of delivering on our plan,” Krefting said.

“So there is no guarantee – we’ll definitely have challenges that need to be solved — but I believe our investors are well informed about this, and the reward down the road is extremely attractive. It’s a risk-reward decision. It will take another 3, 4, 5 years or even longer before you can say the land-based farming industry has produced a production model or an operational set up that is proven.”

DNB Markets, Pareto Securities acted as joint coordinators of the private placement, while SEB and Danske Bank served as co-managers.

17 September 2020 4:32 GMT

6 October 2020 5:00 GMT Updated 7 October 2020 19:02 GMT

By Drew Cherry

https://www.intrafish.com/finance/american-seafoods-backer-joins-nutreco-in-land-based-salmon-farming-investment/2-1-887670

 

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Healthy smoothies Made by Robots – America’s first food automation service goes mainstream at Walmart

Bgv

Following a successful launch at three locations last year, innovative food automation solutions company  Blendid has just opened the company’s fourth food robotics kiosk, at Walmart, in Fremont, California. Blendid is the country’s first food automation service to go mainstream with a major national chain and the company just launched a financing round, that includes a crowdfunding component, to support the rollout.

Now that Blendid has established product-market fit (the company has served over 40,000 smoothies) the plan is to raise five million dollars to aggressively expand to other retail chains, supermarkets, health clubs, corporations, hospitals and colleges. In fact, the company has already signed an agreement with a major food retailer to jointly bring Blendid to market by the end of this year. With the Covid-19 global pandemic driving consumer desire for safe, contactless food preparation and delivery, Blendid is ideally positioned to grow quickly.

Real Food, Artificial Intelligence

California-based Blendid has created a proprietary food automation platform (foodOS) to efficiently and safely prepare and serve a range of healthy, fresh, and tasty foods. Using machine learning, robotics and artificial intelligence, Blendid’s first product is a fully autonomous robotic kiosk that prepares nutrient-packed, delicious smoothies. The smoothies use whole fruits and vegetables, offering fiber, probiotics and protein, made on-demand by a robot and customized to meet the unique health and taste preferences of individual consumers. Blendid creates a tasty, healthy, touchless, affordable and convenient meal or snack for the consumer – exactly how and when they want it.

How does the Blendid robotic kiosk actually work?

Consumers can place orders on site, at the kiosk, or in advance, by using their mobile device and choosing a time to pick up their smoothie. They are able to select all their favorite ingredients and customize it to their taste. The Blendid robot confirms the pickup time and once it starts to prepare the smoothie, the customer is alerted. On arrival at the kiosk, the customer scans a QR code and  the robot pushes the order out of the window. Prices are a very reasonable $4.97 – $5.97 per 12-ounce drink.

Who are the experts behind Blendid?

Blendid was founded in 2015 by Vipin Jain, Venki Ayalur, and Vijay Dodd, seasoned Silicon Valley entrepreneurs who spent four years perfecting the Blendid concept. Their first robotic kiosk was commercially launched in March 2019. Their team also includes nutritionists and chefs led by Blendid’s executive chef Kristen Rasmussen de Vasquez, a registered dietician, food scientist, and aand , a culinary expert with a focus on sustainability. Kristen formulates Blendid’s core recipes, assisted by artificial intelligence, that are plant-forward with vegan and gluten free options, that the consumer is able to customize to their own needs. As a pioneer of the future of foodservice, Blendid is improving the consumer experience by offering safe, cost-effective and personalized food on-demand, while also reducing complexity  and costs for the operators.

Competition in the food automation market

Blendid is the first of its kind to successfully combine food processing and AI in a consumer-facing  setting. Other companies that have attempted automated food processing and delivery have fallen short. Zume pizza had ambitious plans but now manufactures packaging, CafeX is a simplistic coffee maker, while Chowbotics is a fairly basic salad vending machine that doesn’t use robotics. Blendid is the only company to incorporate a fully digital experience with a complex automation process that includes multi-tasking (a Blendid robot can process an impressive 45 drinks an hour and up to 9 orders simultaneously).

Investment Opportunity

While Blendid already has significant venture capital behind it, the company is keen to also offer consumers the chance to invest in the next stage of their expansion through a crowdfunding opportunity. For as little as $100, an individual investor can become a shareholder in Blendid through the company’s current crowdfunding campaign. The company wants to attract investors who are already their actual or future customers. At $300 billion, the on-the-go food market in the United States presents a massive  opportunity. Already a successful startup, Blendid is a sophisticated company with a product that has been field tested and is NSF-certified.

For a limited time, Blendid is raising funds through an equity crowdfunding campaign on the Microventures platform. Given the latest modifications to the Reg CF and Reg D JOBS Act, the barriers to entry have lowered for the public to participate in innovative early stage companies, allowing new or first-time investors to invest in these higher risk and higher reward opportunities.  While many of the most reputable VC funds in the tech space tend to provide early stage capital for deep tech, cloud native infrastructure, or hard to grasp infrastructure solutions (that are often incredibly complex, even for sophisticated investors), Bendid represents a hands-on, consumer facing opportunity that is easy to grasp and easy to impact.  This is a particularly attractive opportunity for the public to partner with high profile VC firms that have already conducted rigorous due diligence in a team and a plan to bring a complete full-stack solution to market that they can taste, touch and experience for themselves.

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OneShield Software Receives Growth Investment Led by Bain Capital Credit and Pacific Lake Partners

BainCapital

November 24, 2020
OneShield Software Receives Growth Investment Led by Bain Capital Credit and Pacific Lake Partners

MARLBOROUGH, MA, November 24, 2020 – OneShield Software (“OneShield”), a leading provider of core software solutions to P&C insurance companies, today announced a growth investment from a private investor group led by Bain Capital Credit, LP and Pacific Lake Partners. The growth funding will help accelerate OneShield’s continued expansion within the P&C insurance software market. The financial terms of the investment were not disclosed.

Founded in 1999 and headquartered in Marlborough, MA, OneShield’s product portfolio includes SaaS and stand-alone cloud-based enterprise-class policy management, billing, claims, rating, business intelligence, and smart analytics software solutions to P&C insurers of all sizes.

“OneShield has made significant progress toward our strategic objectives in recent years. We’ve built a comprehensive product portfolio and increased our partnerships with many leading P&C insurance carriers, all while focusing on investing and strengthening our delivery capabilities,” said Glenn Anschutz, who served as CEO of OneShield for 20 years before recently taking on the role of Chairman and Chief Strategy Officer. “This carefully executed growth strategy resulted in nearly tripling our recurring revenue over the past three years. Partnering with Bain Capital Credit and Pacific Lake will help us further accelerate this strategy while continuing to maintain the highest levels of customer service.”

“We are excited to partner with OneShield on its next phase of growth, especially as the digital transformation of the P&C insurance software market accelerates and as the Company builds upon its deep roots in the industry,” said David Healey, a Vice President at Bain Capital Credit. “OneShield continues to grow its innovative platform through organic growth and recent new business wins, including several startup insurers, which represent a particularly strong niche for the OneShield team. We believe the Company is well-positioned for future success.”

In conjunction with the investment and to support the company’s continued growth, OneShield also announced new appointments to its executive leadership team. Cameron Parker has assumed the role of CEO, succeeding Anschutz, while Brandon Parker has been named President and COO. “Brandon and I are thrilled to be joining the OneShield family at such an exciting time in the Company’s growth journey,” said Cameron. “In addition to its impressive and growing list of clients and partners, OneShield provides insurance companies with deep industry knowledge as well as proven software and delivery capabilities they can depend on for their core technology transformations. We look forward to working with Glenn and the investor group as we continue to build on OneShield’s proven track record of helping clients transform their businesses for the future.”

About OneShield 
OneShield provides solutions for insurers of all sizes. Deployed in the cloud, our portfolio of standalone, subscription, and As-a-Service products includes enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and smart analytics. OneShield automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades, collaborative implementations, and lower total cost of ownership. With corporate headquarters in Marlborough, MA, and offices in India and Canada, OneShield has 50+ products in production across P&C and specialty insurance markets. For more information, visit www.oneshield.com.

About Bain Capital Credit 
Bain Capital Credit is a leading global credit specialist with approximately $42 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalcredit.com.

About Pacific Lake Partners 
Pacific Lake is the most experienced and largest investor dedicated to partnering with search fund entrepreneurs and helping them succeed. Pacific Lake partners with talented entrepreneurs to find and acquire a great company and then galvanize growth and value creation. As a long-term partner for the entire search fund journey, Pacific Lake’s sole purpose is to help entrepreneurs buy a great business and succeed as a CEO. Pacific Lake offers best-in-class support for entrepreneurs, including searcher workshops and a range of post-acquisition initiatives conducted by our Value Creation Team. For more information, visit www.pacificlake.com.

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Arches Capital invests in anti-money laundering software Regulatory Lab

Arches Capital

Amsterdam, 24 November 2020 – Regulatory Lab, an online platform for lawyers, tax advisers, and civil-law notaries, received an investment of € 600,000 from Arches Capital. With the investment, Regulatory Lab will expand its leading position in anti-money laundering software.

In recent years, Regulatory Lab has focused on supporting legal professionals with a better, more effective, and easier way to fight against money laundering. With its highly secure and customer-friendly platform, Regulatory Lab has quickly become the market leader in the Netherlands with clients ranging from enterprise to medium-sized and boutique law, notary, and tax consultancy firms.

We are very pleased with Arches Capital’s investment. Arches Capital’s track record, together with the network’s direct involvement and entrepreneurial background, are the ideal ingredients for us to support us in our ambition to serve the entire European legal market.

Joost Tulkens and Pieter Hallebeek, founders of Regulatory Lab

 

We see a great potential of this software for this specific target group and at the same time, we see how this software can contribute to making the world a little better. The strategy of entering Europe now seems to be the right one to us. The team is very eager to learn and the collaboration has already paid off.

Frank Appeldoorn, Managing Partner at Arches Capital

 

About Regulatory Lab
Regulatory Lab was founded in 2017 to simplify the process of client onboarding and comply with legislation to prevent money laundering and terrorism financing, making it more efficient and customer-friendly for supervised institutions such as lawyers, notaries, and tax advisory firms. Regulatory Lab developed an application, which fully automates these processes. The application replaces the manual process of UBO forms, monitors all parties involved for sanctions and other relevant lists, and provides a full audit trail for when the regulator comes along.

For more information see www.regulatorylab.com.

About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds:

“ We source, select and invest like a VC;
We engage, care and inspire as the angel we are. ”

Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner.

For more information, visit www.arches.capital.

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Janes Acquires Global Platforms & Systems business from Avascent

Montagu

Janes has today announced an agreement to acquire the defence market analytics business – also known as Global Platforms and Systems (“GPS”) – from Avascent to support its industry intelligence solutions and enhance the offering it provides to customers.

This acquisition comes as we continue to build on the momentum we have created since becoming an independent business and ensures that we will continue to deliver the objective open-source intelligence and analytics that our customers rely upon.

Blake Bartlett, CEO of Janes

“I’m delighted to announce the acquisition of GPS from Avascent – it’s a great addition to our portfolio of trusted open-source defence intelligence solutions and allows us to enhance our position as the leading provider of defence market forecasts worldwide,” said Blake Bartlett, CEO at Janes. “This acquisition comes as we continue to build on the momentum we have created since becoming an independent business and ensures that we will continue to deliver the objective open-source intelligence and analytics that the world of defence and security relies upon.”

“This deal brings a highly complementary capability into the Janes ecosystem of connected data that our customers trust in their most critical decisions,” said Doug Dixon, President of Aerospace and Defence Industry at Janes. “We’re focused on getting our customers the right data in the right structure to underpin the analytics they need to operate in the modern national security environment.”

“In Janes, we have found a partner that can take the GPS business to the next level while we continue to focus and invest in our core strategy consulting business,” said Steve Irwin, President of Avascent. “Clients who have come to rely on GPS and its custom features will experience no change in the quality of the product or the responsiveness of the client service. Indeed, clients who have wanted closer integration between GPS and other data resources can now look forward to the prospect of more powerful tools to support their strategy, corporate development, and business development efforts.”

The deal between Janes and Avascent also includes a collaboration agreement through which the two firms can pursue opportunities where their joint capabilities will provide clients with unparalleled insights and advice on critical defence and security issues.

Janes expects completion of the acquisition in January 2021 subject to customary conditions.

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