<div>
  <ul>
    <li>
      <p>
        Flytrex, an Israeli-based drone delivery company, has raised USD 8 million in a funding round led by existing investors including Palo Alto-based Benhamou Global Ventures and the European venture fund Btov. The company has now raised over USD 20 million since inception and is reportedly planning to close a larger funding round later this year.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The funds will be utilized to scale up operations in the US market.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Flytrex conducts drone deliveries in Iceland and the US. The company received Federal Aviation Administration (FAA) approval to conduct drone deliveries in North Carolina in August 2019, and it partnered with Walmart to deliver groceries in Fayetteville, North Carolina, in September 2020.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.bloombergquint.com/business/drone-delivery-startup-poised-to-expand-u-s-operations-with-new-funding">
      Bloomberg
      <b> </b>
      Quint&nbsp;
    </a>
  </p>
</div>


Last-mile Delivery Automation

Flytrex raises USD 8 million to scale up operations in US

Novel therapies to reboot cells and organs

Cell & Gene Therapy

INCUMBENTS_PRESENT

<div>
 <p>PTC Therapeutics, a global biopharma company, has obtained FDA accelerated approval for Kebilidi (eladocagene exuparvovec-tneq), which is the inaugural gene therapy in the US that is approved for direct administration to the brain. This treatment is prescribed for the treatment of AADC deficiency in children and adults.</p>
 <p>This approval hinges upon an ongoing global clinical trial (PTC-AADC-GT-002) in which Kebilidi is given to the putamen of the brain through stereotactic neurosurgery. This gene therapy works by delivering a functional DDC gene to revitalize dopamine production in patients who have AADC deficiency.</p>
 <p>In tandem with the approval, the company has received a Rare Disease Priority Review Voucher. PTC has already pinpointed treatment centers and trained surgeons in preparation for the launch of the therapy. Side effects that are commonly seen include dyskinesia, pyrexia, hypotension, anemia, and salivary hypersecretion. The gene therapy has also been approved in the EU, UK, and Israel.</p>
</div>

PTC Therapeutics receives FDA approval for brain-delivered gene therapy Kebilidi

Giving creators the power of content monetization and audience engagement.

Creator Economy

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 <p>YouTube has launched a novel feature for YouTube Shorts creators through the Dream Track program. This feature enables creators to create distinctive versions of existing songs for their 30-second Shorts.</p>
 <p>With the Dream Track tool, creators can pick from a selection of eligible songs and detail how they want to alter them. They can adjust elements like genres or moods to form a unique version. An AI then produces a remixed version of the song that retains the original's core essence while incorporating the creator's modifications. All AI-remixed songs properly credit the original tracks within the Short and on the audio page.</p>
 <p>According to YouTube, this new song remixing tool allows creators to add a new spin to existing tracks, fostering originality and creativity in their content while preserving the original song's primary feel.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> YouTube is strategically accelerating its presence in the short-form video creation sector through&nbsp;consecutive product launches. In <a href="https:<br>
//sp-edge.com/updates/35746"> November 2024 </a> , the platform introduced a feature allowing Shorts creators to request brand partnerships.</p>

YouTube launches new feature for creators to remix songs with AI

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 <p>Industrial 3D printing solutions provider, EOS, has introduced two new metal materials - EOS NickelAlloy IN738 and EOS NickelAlloy K500 - for its laser powder bed fusion technology. They will be available for EOS M 290 platforms from December 2024 and for the EOS M 400-4 from the first half of 2025.</p>
 <p>The EOS NickelAlloy IN738 can withstand high-stress, high-temperature applications of up to 1,700 degrees Fahrenheit and reach heights of 110% of standard running RPM. The EOS NickelAlloy K500 is developed specifically for space applications, chemical processors, and maritime uses, combining mechanical strength with thermal conductivity.</p>
 <p>EOS indicates that both materials provide crack-free solutions for challenging conditions. The IN738 is ideal for turbomachinery applications whereas the K500 bridges the performance gap between nickel and copper alloys.</p>
</div>

EOS launches two new nickel-based materials for metal 3D printing

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

<div>
 <p>GreenBox Systems, a joint venture of SoftBank Group Corp and Symbotic, plans to invest USD 144 million in the construction of its second automated warehouse in Jackson, Georgia. The warehouse will incorporate Symbotic's automation technology, which includes vision-enabled robots and AI for the sorting, packing, and shipping of goods. This facility will function based on a recurring fee model, offering customers the possibility to store their products and make use of the automation technology.</p>
 <p>The warehouse is scheduled for completion in late 2025 and is anticipated to generate 300 new jobs.</p>
</div>

GreenBox Systems to build automated warehouse in Georgia

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream

Plant-based Meat

<div>
 <p>An AI food tech startup named Shiru has successfully obtained a total of USD 16 million in funding through a Series B round led by S2G Ventures. Other participants in this funding round included CPT Capital, Lux Capital, Nourish Ventures, and Meach Cove Capital.</p>
 <p>The acquired funds are to be utilized in the broadening of Shiru's ingredient portfolio, and to promote the upgrading of its ProteinDiscovery.ai marketplace. This development is to be achieved through the establishment of commercial partnerships and the introduction of new offerings.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Launched in <a href="https:<br>
//sp-edge.com/updates/29010"> May 2024 </a> , ProteinDiscovery.ai claims to be the world's first protein marketplace and discovery platform. It hosts a database of plant-derived and microbial proteins, covering over 33 million molecules, and offers key features like automated biochemistry workflows and the classification of molecules by their sequence, use, and performance.</p>

Shiru raises USD 16 million in Series B funding to expand ingredient portfolio

A booming food and beverage segment with a history as rich and varied as its present-day product offerings

Plant-based Dairy & Egg

<div>
 <p>Shiru, an AI food tech startup, has raised USD 16 million in Series B funding. The financing round was led by S2G Ventures, and included contributions from CPT Capital, Lux Capital, Nourish Ventures, and Meach Cove Capital.</p>
 <p>This funding will help Shiru enhance its ProteinDiscovery.ai marketplace and expand its ingredient portfolio. This will be done through the establishment of commercial partnerships and the introduction of new product offerings.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Launched in <a href="https:<br>
//sp-edge.com/updates/29010"> May 2024 </a> , ProteinDiscovery.ai claims to be the world's first protein marketplace and discovery platform. It hosts a database of plant-derived and microbial proteins, covering over 33 million molecules, and offers key features like automated biochemistry workflows and the classification of molecules by their sequence, use, and performance.</p>

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>Infinidat, an enterprise storage solutions provider, has launched a retrieval-augmented generation (RAG) workflow deployment architecture that is compatible with their existing InfiniBox and InfiniBox SSA enterprise storage systems. Both on-premises systems and cloud environments can access this through InfuzeOS Cloud Edition.</p>
 <p>This RAG architecture allows enterprises to leverage their private data for enhancing AI model precision by utilizing vector databases from Oracle, PostgreSQL, MongoDB, and DataStax Enterprise. The system, based on a Kubernetes cluster, requires only a single command using AWS Terraform for setup, with the deployment process taking roughly 10 minutes.</p>
 <p>The introduced solution counters AI hallucinations by updating the RAG pipeline with fresh data and operates efficiently with existing storage infrastructure without needing any special equipment. With Neural Cache technology, it provides high performance paired with low latency.</p>
 
</div>

Infinidat launches RAG workflow architecture for enterprise AI

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>
 <p>IQM Quantum Computers, a superconducting quantum computing company, has released its 12-year development plan. By 2030, the company aims to achieve fault-tolerant quantum computing. It provides full-stack quantum computers on-premises and cloud access to its systems.</p>
 <p>Key aspects of the roadmap include integration of Star and Crystal processor topologies, Quantum Low-Density Parity-Check code implementation, and capability scalability up to 1 million qubits. In addition, IQM plans to offer a software development kit, open interfaces, and high-performance computing integration for developers.</p>
 <p>IQM believes their approach will significantly lower hardware overhead by 10x compared to surface code implementation and reach error rates below 10^-7 for high-precision logical qubits.</p> 
 
</div>

IQM Quantum Computers unveils development roadmap for fault-tolerant computing

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

<div>
 <p>Hempitecture, a firm that creates eco-friendly construction materials from hemp, has raised 8.4 million dollars in state funding from the US Department of Energy (DOE) as part of the Biden-Harris Administration's Investing in America initiative.</p>
 <p>This funding will be utilized to build a fiber hemp processing plant and a manufacturing unit in Rogersville, Tennessee. The facility will manufacture top-tier hemp-derived construction materials, such as insulation, packaging, and car parts.</p>
 <p>Established in 2018, the company boasts products like PlantPanel insulation that purportedly offer a 60%–80% decrease in carbon intensity than traditional alternatives. The company stated that the facility's tactical location in the southeast will offer easy access to primary markets, specially intending to cater to American car manufacturers with natural fiber nonwovens.</p>
</div>

Hempitecture raises USD 8.4 million in government funding to build manufacturing facility

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 
 <p>Healx, a UK biotech firm utilizing AI, has joined forces with Sanofi to investigate the potential of an inactive Sanofi compound. The collaboration's goal is to determine new disease applications for a previously stopped Sanofi compound using Healx's sophisticated AI drug discovery platform, Healnet. This approach is designed to prevent any beneficial compound from being wasted, particularly in relation to rare illnesses that currently don't have treatment methods.</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 The Healnet platform was previously employed in a similar drug discovery collaboration in <a href="https:<br>
//sp-edge.com/updates/4786"> August 2021 </a> with the Japanese pharmaceutical company Ono Pharmaceuticals to use the platform to find novel therapeutic indications for Ono’s proprietary assets. The partnership aimed to allow Healx to expand its drug discovery capabilities from common to rare and unmet disease indications.&nbsp;</p>

All Updates

Flytrex raises USD 8 million to scale up operations in US

PTC Therapeutics receives FDA approval for brain-delivered gene therapy Kebilidi

YouTube launches new feature for creators to remix songs with AI

EOS launches two new nickel-based materials for metal 3D printing

GreenBox Systems to build automated warehouse in Georgia

Shiru raises USD 16 million in Series B funding to expand ingredient portfolio

Shiru raises USD 16 million in Series B funding to expand ingredient portfolio

Infinidat launches RAG workflow architecture for enterprise AI

IQM Quantum Computers unveils development roadmap for fault-tolerant computing

Hempitecture raises USD 8.4 million in government funding to build manufacturing facility

Healx partners with Sanofi to identify new disease indications using AI platform

Last-mile Delivery Automation

Flytrex raises USD 8 million to scale up operations in US

Contact us