Category Archives: News

Our Investment in FieldAI: Enabling Robots to Conquer Complex Environments

Intel Capital

08 . 20 . 2025

By Alexandra Farmer and Srini Ananth

Robotics is becoming increasingly accessible as hardware has reached a level of maturity and standardization, providing a solid foundation (the “body”). The next challenge is advancing the robot’s “mind.” Specifically, the use of large language models and other AI systems that autonomously drive essential functions like perception, motion control, and decision-making. We are seeing robotic use cases becoming more achievable, thanks to hardware standardization, improved dexterity and manipulation, and better contextual understanding. These advancements are making robots more “plug-and-play,” enabling them to adapt to a wider range of real-world scenarios.

We at Intel Capital look to invest in the leaders of robotics and autonomy. Over the years, we have invested in Figure AI, Beep and Formant. Now, we’re excited to announce our investment in FieldAI – pioneering Physical- AI.

Field AI has developed proprietary, “physics-first” foundation models that enable fully autonomous solutions. Field’s customers deploy their Field Foundation Models (FFMs) on any robot embodiment, or vehicle (legged, wheeled, flying, tracked) and any sensor. FFMs can be deployed in any environment, and can handle unknown and unpredictable real-world conditions. FFMs’ driven autonomyexcels in hazardous or hard to reach areas, allowing robots to collect high-precision data in sectors where human access is limited by safety concerns or complex physical constraints, particularly amongst industries including construction, energy, manufacturing, urban delivery, and security. Deployed robots can perform duties such as progress and object tracking, high precision inspection and readings, object manipulation and transportation, and surveillance within dynamic real-world environments at the edge with no prior map training, no GPS – truly out of the box.

What excites us about Field is not just its ability to enable on-edge robotic autonomy, but also the team behind it. FieldAI CEO Ali Agha brings deep expertise from his work leading the Autonomous and Robotics system division at NASA’s Jet Propulsion Laboratory. He has built a distinguished team with experience across AI, autonomy, and deep tech companies including DeepMind, Google Brain, Tesla Autopilot, NASA, SpaceX, NVIDIA, Zoox, Cruise, TRI, and others. We look forward to working closely with FieldAI to create an accelerated path towards next-generation AI-based robotics and deployments.

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Foundation Building Materials, Building Products Distribution Company Owned By American Securities and CD&R, To Be Sold To Lowe’s In $8.8 Billion Transaction

American Securities

American Securities LLC (“American Securities”) and CD&R today announced they have entered into a definitive agreement to sell Foundation Building Materials, Inc. (“FBM” or the “Company”) to Lowe’s Companies, Inc. (“Lowe’s”) (NYSE: LOW) for $8.8 billion.

FBM is a leading North American distributor of interior building products, including drywall, metal framing, ceiling systems, commercial doors and hardware, insulation and complementary products serving large residential and commercial professionals in both new construction and repair and remodel applications. Since 2011, FBM has grown organically and inorganically to become an industry leader, with a network of over 370 locations in the United States and Canada serving 40,000 Pro customers.

Under the ownership of American Securities and CD&R, FBM has experienced a period of exceptional growth resulting in 27% per annum revenue growth and 31% per annum EBITDA growth. This momentum has been driven by both organic expansion and strategic transactions, including the acquisitions of Beacon Roofing Supply’s interior products business, Marjam Supply Company, Unified Door & Hardware, and REW Materials. These acquisitions have improved the Company’s competitiveness, broadened its product and service portfolio, and expanded its scope across key regions in North America. In addition, FBM has advanced long-term strategic goals, including launching a new e-commerce platform and digital application designed to deliver enhanced service for its customers, and investing to expand its commercial capabilities.

Ruben Mendoza, CEO of FBM, said: “Working alongside American Securities and CD&R has been incredible. With their support, we’ve been able to accelerate growth, expand our capabilities, and improve our position, all while staying true to our values and culture. I am immensely grateful for what our team has accomplished and am excited about the opportunities ahead as we join forces with Lowe’s.”

Kevin Penn, Partner at American Securities, added: “Over the last four and a half years, we have been privileged to work with an extraordinary management team, building on a relationship with Ruben Mendoza that goes back years before our investment. We’re proud to have supported FBM in achieving remarkable growth, transforming the business through strategic M&A, the opening of new markets, and innovative e-commerce initiatives. This transaction is a testament to the value of true partnership with an outstanding team.”

“Our team was pleased to partner with Ruben Mendoza and American Securities to help FBM unlock its full potential and establish new avenues for growth,” said John Stegeman, Operating Advisor to CD&R funds and Chairman of FBM. “Over the course of our partnership, FBM has strengthened its capabilities, invested in organic growth initiatives and enhanced its best-in-class customer value proposition, which will enable long-term, sustained growth.”

“Over the course of our investment, our shared vision — to position FBM as a leading, reliable partner to customers across North America through unmatched service and operational excellence — has been brought to life through the management team’s ability to execute and their passion for the business,” commented Aaron Maeng, Partner at American Securities. “Together, we have not only achieved impressive results, but also built a resilient, customer-focused business ready to seize future opportunities.”

“When we began our collaboration with FBM, we were excited by the strength of the team, long-term track record of performance, best-in-class customer feedback and the strategic value of the business,” said Tyler Young, Principal at CD&R. “Over the past 18 months, FBM has established new avenues for growth through strategic acquisitions and a compelling set of well-resourced organic growth initiatives. We are confident FBM is well-positioned for continued success in its next chapter as part of Lowe’s.”

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals. RBC Capital Markets served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to FBM, American Securities, and CD&R.

About FBM
Founded in 2011 and headquartered in Santa Ana, California, FBM is an industry-leading building materials and construction products distribution company. With over 370 locations across the U.S. and Canada, FBM has an expansive North American reach with a mission to serve the changing needs of the professional construction trades. For more information, visit www.fbmsales.com.

About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $23 billion under management. For more information, visit www.american-securities.com.

About CD&R
Founded in 1978, CD&R is a leading private investment firm with a strategy of generating strong investment returns by building more robust and sustainable businesses through the combination of skilled investment experience and deep operating capabilities. In partnership with the management teams of its portfolio companies, CD&R takes a long-term view of value creation and emphasizes positive stewardship and impact. The firm invests in businesses that span a broad range of industries, including industrial, healthcare, consumer, technology and financial services end markets. CD&R is privately owned by its partners and has offices in New York and London. For more information, please visit www.cdr.com and follow the firm’s activities through LinkedIn and @CDRBuilds on X/Twitter.

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Backing Garage: Transforming How America’s Critical Equipment Is Bought and Sold

Initialized

Why Initialized led Garage’s seed round and participated in its Series A for $18M total funding

America’s local governments and public safety departments are the backbone of our communities, yet the way they buy and sell the most essential equipment needed for doing their jobs hasn’t changed in decades. Whether it’s a used fire engine or surplus emergency response gear, these transactions often happen offline, through outdated regional auctions or informal Facebook groups. It’s an inefficient, fragmented system that slows operations, limits budgets, and wastes valuable time and money.

BUILDING THE MODERN MARKETPLACE

Garage is a modern, AI-powered marketplace designed to streamline how specialized equipment is bought and sold. When we first met co-founders Martin Hunt and Alaz Sengul, we immediately saw how deeply personal this mission is to them, and how well-equipped they are to fix this broken system. Martin’s firsthand experience as a volunteer firefighter — logging over 1,500 hours of training by age 18 — gave him a firsthand view of just how archaic these workflows are. Their vision goes beyond making equipment transactions easier, it provides a means for America’s first responders and civil servants to access the tools they need to do their jobs well.

The first thing that surprised us in diligence was how little innovation has touched this space, despite how critical and expensive these assets are. The U.S. has more than 27,000 fire departments, and most operate under tight budget constraints. A new or used fire truck can cost anywhere from $500K to $1M, and buying or selling one can take weeks of coordination, back-and-forth messages, and fragmented logistics. The absence of a central platform isn’t just inefficient, it’s a missed opportunity to recapture budget and reinvest in communities.

Garage is filling that gap. The platform handles the full lifecycle of the sale: AI-based appraisals, integrated payments, freight quotes, and national reach for the equipment listed. They’re already being used by hundreds of fire departments across all 50 states, impacting the well-being of millions of Americans. Compared to previous approaches, they also don’t take inventory risk on the equipment being traded.

THE PERFECT COMBINATION: FRONTLINE EXPERIENCE AND TECHNICAL EXPERTISE

Martin and Alaz aren’t new to building together. They met at Columbia, where they developed apps together. After graduation, Alaz went on to engineering roles at Twitter, and Mem, while Martin worked in private equity at Goldman Sachs, bringing operational rigor to complement his front-line fire service experience.

Martin’s authenticity, paired with Alaz’s product instincts and technical execution, is a combination we’re genuinely excited to back for the next ten years. This is a deep, mission-oriented company. It’s not uncommon for Martin to share stories with us during office hours of how he’s used his firefighting training to help a stranger drowning.

WHY OVERLOOKED INDUSTRIES MAKE THE BEST INVESTMENTS

At Initialized, we believe some of the best opportunities lie in underserved, overlooked industries, where the tools haven’t caught up to the needs of the people using them. Garage is a perfect example of that thesis in action.

As the market shifts toward more capital efficiency and durable business models, Garage stands out: high-value transactions, strong early traction, and a clear roadmap to scale. We’re proud to have led Garage’s seed round and to be part of this $13.5M Series A alongside Infinity Ventures, Y Combinator, Benchstrength, Wayfinder Ventures, and FJ Labs, and we’re excited to support Garage as they continue building the infrastructure America’s communities rely on.

Garage is hiring! Visit shopgarage.com/careers if you’re interested in joining this stellar team.

Visit www.shopgarage.com to learn more about Garage.

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Astorg partners with ATTIKON, a Leading German Commercial Insurance Brokerage Platform

Astorg

Luxembourg/Frankfurt/London – Astorg, a leading pan-European private equity firm, is pleased to announce its investment in ATTIKON Finanz AG (“ATTIKON” or “the company”), a leading German commercial insurance brokerage platform. The founders, the management team and other significant shareholders, including Sigla, will remain invested in the company. Through this partnership, Astorg will support ATTIKON’s growth and expansion, collaborating closely with the founders and the management team.

Press Release

 

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Founded in 2019 through the combination of two regional brokers, ATTIKON has rapidly grown into one of Germany’s foremost multi-specialist commercial insurance brokers for small and medium-sized enterprises (“SMEs”). The company offers a comprehensive portfolio across property, liability, and specialty lines such as cyber and directors and officers (“D&O”) liability insurance. ATTIKON has built a particularly strong presence in the residential real estate segment, where it ranks among the top three brokers nationwide.

Headquartered in Düsseldorf, ATTIKON serves more than 30,000 clients through five metropolitan hubs in Germany with a team of around 230 professionals.

ATTIKON’s focused platform, strong foothold in attractive niche segments, proven M&A execution, and resilient business model positions it to continue delivering strong growth. Astorg’s investment will support ATTIKON in accelerating its acquisition strategy, enhancing digitization across the platform, and expanding into complementary services such as managing general agent (MGA) capabilities.

The investment will be part of Astorg’s Mid-Cap portfolio, representing the seventh investment of the fund to date, the second in Germany, the fifth primary, and the first in the Business Services sector.

Astorg is partnering on this transaction with Sigla, whose founders and managing partners are longstanding significant shareholders in ATTIKON. Having invested in the company nearly from its inception, Sigla brings deep expertise in the insurance brokerage sector.

Florian Luther, Partner and Head of DACH Mid-Cap, and Kevin Bernges, Managing Director at Astorg, said:

“ATTIKON has built a remarkable platform in just a few years, combining deep sector expertise with a proven ability to integrate and grow acquired businesses. Operating in Europe’s largest and most resilient commercial insurance market, the company is well placed to capture sustained growth opportunities. We look forward to partnering with the excellent management team to accelerate ATTIKON’s strategy, enhance its digital capabilities, and further expand its leadership position in the German commercial insurance market.”

Lionel de Posson, Partner and Co-Head of Astorg’s Mid-Cap fund, added:

“Supporting ambitious companies through buy-and-build strategies has long been a core part of Astorg’s DNA, as demonstrated by our strong track record with investments such as Normec, IQ-EQ, and, more recently, IPCOM and Steliau. We are excited to bring this expertise to support ATTIKON’s growth and consolidation strategy.”

Thomas Michels, CEO of ATTIKON Finanz AG, said:

“Partnering with Astorg gives us not only the resources to accelerate our growth, but also a like-minded partner who shares and actively supports our strategic vision. Together, we aim to strengthen our position, enhance the value we deliver to our clients and employees, and advance towards our goal of becoming one of Germany’s leading brokerage groups.”

Astorg was advised by Rothschild & Co (M&A), Willkie Farr & Gallagher and Kirkland & Ellis (legal), EY (financial, tax, cybersecurity, and tech & ops), Oliver Wyman (commercial), Howden (insurance) and ERM (ESG).

*ENDS*

Astorg

Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software and technology, business services and technology-based industrial companies.

Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt, and Milan.

For more information about Astorg: www.astorg.com | Follow Astorg on LinkedIn.

ATTIKON

ATTIKON Finanz AG focuses on the acquisition and further development of specialized brokerage companies. ATTIKON is already among the top 20 brokers in the corporate and commercial sectors and continues to grow. New brokerage firms are systematically integrated into the group, with strategic consideration given to all aspects—from IT to human resources, finance, and even the company name.

Further information can be found at: www.attikon.de

Sigla

Sigla is a newly established, sector-focused private equity firm. We invest across Europe in countries we
know well and where we understand local markets and can bring our networks to bear. Sigla targets a limited range of specific investment themes within the Healthcare and Business Services sectors, where Sigla has deep expertise. Sigla invests in high quality businesses with best-in-class managers and with a combination of strong levels of resilience as well as distinct value creation levers, especially when they involve opportunities to digitalise and to consolidate. Sigla was founded by its three Managing Partners and Nordstjernan AB, a Swedish foundation-owned and family-controlled investment house with +130 years of legacy in direct investing and in entrepreneurship.

For more information about Sigla: www.sigla-capital.com | Follow Sigla on LinkedIn.

 

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Back to Press Releases KKR Leads Financing for Flexera Recapitalization

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR-managed credit funds and accounts served as lead investor on the debt financing for the recapitalization of Flexera Software (“Flexera” or the “Company”), a global leader in technology spend and risk intelligence. KKR Capital Markets also served as Lead Arranger and Bookrunner on the transaction.

Founded in 1987 and based in Illinois, Flexera helps organizations understand and manage the value of their technology investments. Powered by the world’s largest high-fidelity technology asset data catalog, Flexera’s award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on the entire IT landscape. With the Flexera One platform, organizations can optimize spend, minimize risk and accelerate AI implementation. Flexera is a portfolio company of Thoma Bravo, a leading software investment firm.

“We were drawn to Flexera’s strong momentum and scaled global platform that offers critical, simplified IT solutions in a highly fragmented and complex industry,” said Bobby Campbell, Managing Director at KKR. “We are pleased to support the team in this recapitalization to position the business for its next chapter of growth.”

KKR was advised on the transaction by Latham & Watkins LLP. Flexera was advised by Kirkland & Ellis LLP.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Flexera

Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement and cloud teams to address skyrocketing costs, optimize spend, mitigate risk and identify opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.

Lauren McCranie
Media@kkr.com

Source: KKR

 

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Adamantem Capital to acquire majority stake in Nexon Asia Pasific

Adamantem

Australian private capital manager Adamantem Capital (Adamantem) is pleased to announce it has reached an agreement to acquire a majority stake in leading IT services provider Nexon Asia Pacific (Nexon). Founded in 2000, Nexon delivers comprehensive end-to-end IT solutions to business, government and not for profit clients, with deep expertise in security, cloud, and digital solutions. Nexon services over 1,000 active clients across all core managed IT offerings including cloud services, network and communications management, cybersecurity and digital solutions. Adamantem Managing Director Katie Wood said the firm looks forward to partnering with Nexon’s co-founder and Chief Executive Officer, Barry Assaf, and his management team to support the business in its next phase of growth. “We’ve been impressed by Nexon’s journey so far and believe the business is well positioned for future growth,” she said. “Having invested successfully in the IT services sector in the past, we see a great opportunity for the business to continue to grow organically in the Australia and New Zealand markets, as well as to support the management team in its acquisition strategy.” The transaction is subject to customary conditions and approvals and will mark the eighth investment from Adamantem’s Fund II, alongside Retail Zoo, QANTM, and Advara Heartcare. -Ends- Media contact: Jess Bell 0415399272 Jess.bell@sodali.com

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boost.ai named a leader in 2025 Gartner® Magic Quadrant™ for conversational AI platforms

Nordic Capital

Boost.ai, a leading developer of AI Agents for regulated enterprises, today announced it has been recognized as a Leader by Gartner in the 2025 Magic Quadrant for Conversational AI Platforms. Boost.ai has been recognized in this Magic Quadrant by Gartner for its “Ability to Execute” and “Completeness of Vision”.

The report states that “Gartner defines conversational AI platforms (CAIPs) as SaaS products that primarily enable the development of applications simulating human conversation across multiple channels and media”. As AI adoption accelerates, the market is seeing a clear shift in customer expectations toward higher-quality self-service and interactions. While enterprises increasingly turn to generative AI to meet these expectations, platforms, like boost.ai, that combine generative capabilities with proven conversational AI, offer the scalable, reliable solutions needed to deploy with confidence.

“We’ve always believed that trust is the foundation of enterprise AI. Being recognized as a Leader by Gartner reinforces our position as a global provider of AI-driven conversations that our customers can trust,” said Jerry Haywood, CEO of boost.ai. “It affirms our commitment to delivering AI that is not only powerful and scalable but also responsible and secure. It’s this unwavering focus that continues to earn the confidence of some of the world’s most respected brands.”

Over the past year, boost.ai announced multiple customer wins and partnerships in the US and UK, including Jack Henry, SwitchThink and Sage. The company also introduced Test Studio, a first of its kind built-in studio to test and validate AI Agent performance before they are deployed by enterprises. With more than 600 live AI Agents across 450+ organizations worldwide, boost.ai is the go-to provider of trustworthy AI Agents for leading banking, insurance, and government institutions. The platform delivers industry-leading resolution rates above 90% and is certified to both ISO 27001 and ISO 27701 standards, reinforcing enterprise-grade data protection and privacy management across every customer interaction.

Boost.ai continues its upward global trajectory within the Enterprise Conversational AI market, while driving innovation and helping enterprises push the boundaries of AI responsibly. To learn more about how boost.ai is empowering customers like DNB and Jack Henry using conversational AI, please visit boost.ai.

Gartner disclaimer:
GARTNER is a registered trademark and service mark of Gartner Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with the permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner, “Magic Quadrant for Conversational AI Platforms”, by Gabriele Rigon, Justin Tung, Bern Elliot, Arup Roy, Adrian Lee, Uma Challa, 12 August 2025.

About Boost.ai
Boost.ai is the trusted leader in AI-powered customer experience solutions for regulated industries. Built for security, speed, and scale, the platform enables fast deployment, high-resolution rates, and full hybrid control through seamless orchestration of traditional NLU and LLMs. With over 650 successful deployments, 600 live virtual agents, and more than 150 million automated conversations, boost.ai helps enterprises around the world resolve with confidence, automate at scale, and trust every conversation.

Proven performance and enterprise-grade reliability make boost.ai the partner of choice for leading brands across the world, including Nordea, Credit Union of Colorado, Sage, DNB, Trading 212, and more.

Download a complimentary copy of the report here.

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Platinum Equity to Acquire Anuvu

Platinum

LOS ANGELES, CA (August 18, 2025) – Platinum Equity announced today that it has signed a definitive agreement to acquire Anuvu, a leading provider of global entertainment and high-speed connectivity solutions for airlines, VIP/VVIP aircraft, cruise lines and other mobility end-markets.

  • Headquartered in Lombard, IL, Anuvu serves more than 150 airline and 30 cruise-line customers worldwide. The company operates two primary divisions:
  • Media Technology Services: Licenses, distributes, localizes and delivers entertainment content for aviation, maritime and non-theatrical end markets, with a catalog of more than 400,000 titles
  • Connectivity: Provides telecommunications equipment, broadband satellite Internet access, passenger management services, and analytics solutions to airline customers.

“Anuvu is a leader in delivering exceptional entertainment experiences to global aviation customers and has developed highly innovative and technologically advanced satellite connectivity and content delivery platforms”

Jacob Kotzubei, Co-President, Platinum Equity

“Anuvu is a leader in delivering exceptional entertainment experiences to global aviation customers and has developed highly innovative and technologically advanced satellite connectivity and content delivery platforms,” said Platinum Equity Co-President Jacob Kotzubei. “As passenger traffic continues to grow, we are encouraged to see carriers making substantial new investments in both connectivity and entertainment, improving passenger and guest experiences. We look forward to working with Anuvu’s leadership team to capitalize on these tailwinds and other opportunities to grow the business.”

Joshua Marks, CEO of Anuvu, who has been with the company for 10 years and helped the business navigate through COVID and a subsequent transformation, will continue in his role following the acquisition.

“We’ve made strong progress in recent years by investing in both technology and content, focusing on our core strengths in the aviation and cruise markets. We recently activated the Anuvu Constellation, providing dedicated aviation satellite capacity over North America. In parallel, we continue to expand our Media partnerships to license, localize and distribute distinctive content to the world’s leading airlines and cruise lines,” said Marks. “We are excited to partner with Platinum Equity to leverage their financial expertise, global capabilities, and operational know-how supporting fast-growing portfolio companies.”

Platinum Equity has deep experience investing in technology and media businesses. Its current portfolio includes Deluxe, a leading provider of end-to-end post-production services for the world’s leading content production studios.

“Anuvu’s long-standing customer relationships, talented employees and global footprint provide a strong platform for organic growth,” said Platinum Equity Managing Director Dan Krasner. “We also see opportunities to leverage Anuvu’s content and technology capabilities to expand further into adjacent markets, including non-theatrical verticals, media processing and delivery, advertising and other custom services.”

Financial terms were not disclosed. The acquisition is expected to close in the fourth quarter calendar year 2025, after the receipt of required regulatory approvals.

Drake Star is serving as the exclusive financial advisor to Anuvu.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions.

About Anuvu

Anuvu connects and entertains the world’s passengers. Our award-winning content and connectivity solutions are reliable, scalable, and tailored to our customers’ brands and service objectives. With a flexible and agile approach, we maximize the technology available today, while optimizing for tomorrow.

Some of the most experienced professionals in the industry lead our teams and this, together with our long-standing client relationships, means we never stand still.

Anuvu. Let Innovation Move You.

Follow Anuvu on LinkedIn for further updates and insights.

 

Contacts:
Dan Whelan
Platinum Equity
dwhelan@platinumequity.com

Caroline Smith
Anuvu
caroline.smith@anuvu.com

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Celebrating BlueStone’s IPO: A decade of design, trust, and quiet endurance

Accel

Celebrating BlueStone’s IPO: A decade of design, trust, and quiet endurance

Today, as BlueStone rings the bell, we feel immense gratitude. From our first conversations with Gaurav over a decade ago to seeing the company list today, it has been our privilege to be their first partners on day zero.

Why we leaned in so early
Back then, we were mapping India’s e-commerce landscape with a prepared mind. Jewelry stood out as a category where brand, design, and supply would define success more than marketplace placement. It was during that time we first met Gaurav, an operator who thought from first principles, carried the curiosity to master a new category, and the humility to keep challenging assumptions. That conviction gave us the confidence to back him early.

A hyperlocal and customer-obsessed thesis for India
Global playbooks suggested solitaires. Gaurav believed India would lead with gold and with design. Jewelry here would be defined by everyday wear, not just wedding trunks. It would not be a logistics or price game, but a brand and taste game. That thesis has shaped BlueStone’s trajectory and proven right.

Trust by design
BlueStone pioneered high-fidelity 3D rendering so customers could see the sparkle, not imagine it. They introduced home try-ons with alloy replicas and transparent exchange policies that reflected real buying behavior. These were deliberate choices to build confidence first, conversion next.

Building full-stack, before it was fashionable
Gaurav was arguably the first startup entrepreneur in India to think full-stack in a consumer category. He understood that disrupting an industry like jewelry needed a rethink at multiple levels, not just the front-end tech stack. From design and visualization to supply chain and retail, he built capabilities end-to-end. This included setting up multiple manufacturing centers, with Jaipur today being one of the largest in the country. This approach gave BlueStone control over quality, speed, and innovation that few competitors could match.

Omnichannel, with tech at the core
Long before it was consensus, BlueStone treated online and offline not as a trade-off but a continuum. Stores followed, thoughtfully. Inventory followed, scientifically. What sets them apart is how a design-first brand embedded a tech-first backbone. An ML-driven engine allocates designs across hundreds of stores, driving faster turns and sharper insights. Few companies in this space have blended taste and technology so seamlessly.

Weathering the middle
Building a consumer brand is a long game. In the mid-2010s, India lacked true mid-stage capital for vertical commerce. BlueStone stayed frugal and focused, steadily broadening its catalog, deepening manufacturing capabilities, and sharpening unit economics. The company moved through challenges with consistency, learning and building in every cycle. That discipline made today possible.

What this milestone signals
Today’s listing is not the end of the journey. It is still Day 1 in making millions of customers happy, and the best is yet to come. The opportunity ahead is vast: AI-assisted design, new material fusions, deeper manufacturing innovation, and global customers already drawn to BlueStone’s aesthetic. The IPO marks trust earned at scale and opens a new chapter as a public company.

To Gaurav and the BlueStone team, thank you for letting us walk alongside you from “no website yet” to this milestone. To early employees who bet careers on a thesis, to customers who chose design over habit, and to co-investors who backed resilience over fashion, this outcome carries your fingerprints.

At Accel, we are privileged to be first partners to founders who elevate the everyday. BlueStone did not just change how India buys jewelry, it made great design feel personal, frequent, and joyfully attainable.

Here is to the next chapter, and to keeping the bar high on what is possible when taste, technology, and tenacity meet.

— Prashanth Prakash, Partner, Accel

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BGF backs new accelerator to fast-track female-led business growth

BGF

The new programme from FFinc moves beyond traditional mentorship, to deliver investment, scale, and visibility to female founders.

15 August 2025
Ffinc Forward Faster Accelerator logo

Female founders and business leaders face entrenched bias, limited access to networks, and a massive funding gap: across the UK, just 1% of private investment is directed toward women-led businesses. This ‘leaky pipeline’ blocks innovation and growth at every stage, despite clear evidence that female-founded businesses deliver higher revenues, create more jobs, are more sustainable, and drive greater returns on investment.

FFinc, an association of women and businesses dedicated to the financial, career and personal advancement of women, has already built year-long tech accelerators with KPMG, supported hundreds of women to grow businesses globally with HSBC, and helped 20% of its most recent accelerator cohort secure funding – 10x the industry average. Now, they’re doubling down on what works.

This September, FFinc will launch its Forward Faster Accelerator, a comprehensive six-month programme, designed to supercharge 100 of the UK’s most ambitious female-founded businesses. In partnership with BGF, HSBC, Wilson Sonsini, Thrive Partners, Square, Elementaryb, Block, Atlantic Pacific and Streets Consulting, the accelerator moves beyond traditional mentorship, to deliver capital access, commercial readiness, strategic scale support, and visibility.

“Too many female founders are still locked out of the funding and growth they deserve.”
Tamara Gillan
Founder of FFinc

Unlike with conventional accelerators, Forward Faster participants will benefit from the combined talents, tools, and teamwork of FFinc’s business partners, as well as investors, sector specialists, and exited, female founders-turned-mentors (known as ‘Driving Forces’). The multiplier effect of uniting all these forces in one ecosystem – and 100 powerhouse entrepreneurs, working side-by-side – is set to drive growth, accelerate commercial outcomes, and deliver long-term results.

Jill Williams, Partner at BGF, said: “BGF has been the most active investor in female-led scaleups in the UK for over five years, but there’s more we want to do. Through the Forward Faster Accelerator, we’re sharing the insight of our investor network, to help founders scale confidently, understand the value of growth capital, and build lasting impact.

“This initiative reflects BGF’s broader commitment to inclusive entrepreneurship, and we’re proud to collaborate with FFinc and fellow partners, to create a more equitable, dynamic future for female-powered businesses.”

Female investors, business leaders and non-execs at the BGF Women in Entrepreneurship and on Boards (WEB) Forum

Each founder on the Forward Faster programme will be paired with a Driving Force: a world-class operator with real experience of scaling ventures. From GoHenry Co-Founder Louise Hill to healthtech pioneer Amber Vodegel and environmental impact guru Sian Sutherland, these leaders bring unmatched experience and cross-sector access – and will act as embedded collaborators to the programme’s participants.

“Through our years of work in this sphere, we’ve found that, if you only focus on capital, you can’t fix the story,” commented Tamara Gillan, Founder of FFinc.

“You need to connect funding with education, access, scale – and a community that helps women go further, faster. At FFinc, we don’t sit back and observe. We build, we partner, we listen. Every programme and every partnership makes us and our ecosystem smarter, sharper, and better equipped to shift the dial.”

Calling the 100

Applications to join the Forward Faster Accelerator are open now. If you’re a high-growth, female-powered business, with the ambition to scale – and the grit to move fast – FFinc wants to hear from you.

Participants will have access to:

  • C-Factor mentorship
  • Investor readiness clinics
  • Growth infrastructure strategy
  • Founder fitness sessions
  • High-value ecosystem collaborations
  • Targeted visibility via media, digital campaigns, and live events

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