Jason D. Rowley

Meat on cutting board

When It Comes To Cell-Cultured Meat, What’s In A Name?

Reinventing gene therapies with next-generation technologies

Human Gene Editing

<div>
 <p>CRISPR-based gene editing firm SNIPR Biome has raised USD 5.48 million from global non-profit group Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X).</p>
 <p>The funds will support the Phase Ib/IIa clinical trial for SNIPR001, a CRISPR-enhanced phage therapy aiming to prevent E. coli bloodstream infections in hematological cancer patients receiving hematopoietic stem-cell transplants. The trial, scheduled to begin later this year, will include approximately 24 patients from 10 locations in Europe and the U.S.</p>
</div>

SNIPR Biome secures USD 5.5 million from CARB-X to advance clinical progress

Sustainably solving the food shortages of the future

Smart Farming

<div>
 
 <p>OlsAro, a Swedish agtech startup, recently obtained a funding amount of EUR 2.5 million (~USD 2.66 million) in a seed round. Reputed bodies, such as Future Food Fund and PINC, lead this round, further supported by AgFunder, FLORA Ventures, Mudcake, and other existing investors of the startup.</p>
 <p>This funding is expected to enhance the company's operations by increasing its geographical reach, advancement of its proprietary technology platform, and discovery of wheat crop variants that can endure extreme climate conditions. The company asserts that using its AI-enabled platform, these new wheat variants will develop three times faster than the conventional methods.</p>
 <p>OlsAro is a Swedish firm that uses AI for crop development in collaboration with crop trait discovery and field testing. Its initial product is a salt-resistant wheat variety that allows farmers to continue farming on unfertilised land during the dry season. Additionally, the company aspires to develop crops that can survive in climate-stressed scenarios, using its AI-powered genetics platform.</p>
 
</div>

OlsAro raises EUR 2.5 million to enhance its AI-enabled platform

Foundation Models

ANALYST_QUICK_TAKE

<div>
 
 <p>OpenAI has allegedly selected Pragya Misra as its head of government relations in India to manage AI application concerns. Bloomberg notes that Ms. Misra is scheduled to begin her duties by the end of April.</p>
 <p>Prior to this role, Misra has reportedly worked with Truecaller AB and Meta.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The role of an intermediary between US-based AI companies and the Indian government is deemed important, considering India is amidst its general elections. The appointment seems to be OpenAI's effort to ensure better interaction with the Indian administration and tech policy.</p>

OpenAI reportedly hires Pragya Misra as government relations head in India

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

INCUMBENTS_PRESENT

<div>
 <p>The global materials technology and recycling group, Umicore, has raised EUR 499 million or roughly USD 531.5 million through a fixed-rate, sustainability-linked issuance of US private placement notes. The funding came from 17 institutional investors from Europe and North America.</p>
 <p>The company has earmarked the proceeds from this issuance for refinancing and other corporate purposes, which are expected to be used in July 2024. Also, Umicore plans to utilize these funds to support its 2030 RISE strategy, incorporating several initiatives specifically focused on environmental, social, and governance goals. </p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In February 2024, the company raised ~USD 372.9 million via a loan from the European Investment Bank to support its work to develop rechargeable battery material technologies for electric vehicles (EVs) and the recycling of EV batteries in Europe.</p>

Umicore raises EUR 499 million in privately placed debt funding to support operations

PROMINENT_CATEGORY

<div>
 <p>Spinnova, a Finnish sustainable textile fiber producer, has formed a partnership with international fashion retailer Jack &amp; Jones to create a t-shirt derived from wood-based Spinnova fiber, organic cotton, and elastane.</p>
 <p>30% Spinnova fiber is incorporated in Jack &amp; Jones's new t-shirt, marking this as the second product born from the company's collaboration with Spinnova. These Spinnova-based products are set to be available in physical stores and online starting from April 2024.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Spinnova’s first collaboration with Jack &amp; Jones in October 2022 was to launch a pair of trousers made from Spinnova fiber and cotton. The news is a welcome development in light of the company undertaking a <a href="https:<br>
//sp-edge.com/updates/27654"> strategic review </a> following a decline in sales in 2023.</p>

Spinnova partners with Jack & Jones to launch t-shirt made from Spinnova fiber

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>
 
 <p>TabaPay, a platform for instant money transfers, has acquired the assets and affiliates of Synapse, a provider of banking-as-a-service (BaaS) infrastructure. The acquisition followed Synapse's voluntary bankruptcy filing under Chapter 11. The financial details of the transaction have not been disclosed.</p>
 <p>TabaPay plans to use Synapse's assets and technology to expand its own financial services offerings. The deal also ensures continuity for Synapse’s clients and associated banks.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Leading up to the acquisition, Synapse went through two rounds of layoffs during 2023. The <a href="https:<br>
//medium.com/@sankaet/a-hard-decision-to-position-us-for-the-future-7f8a38f0fa69"> initial round </a> (~18% of its workforce) was part of a restructuring initiative in June 2023, and <a href="https:<br>
//sp-edge.com/updates/22521"> its second round </a> (~40% of its workforce) in October 2023 was due to worsening macroeconomic conditions unfavorably impacting business circumstances, clients, and platforms.</p>

TabaPay acquires Synapse to expand offerings

Next-gen packaging solutions for enhanced product tracking, inspection solutions and freshness monitoring

Smart Packaging Tech

<div>
 
 <p>Scodix, a company specializing in digital embellishments, has introduced Scodix AI, an AI-powered tool aimed at automating the design process for embellishments. The company believes this tool would help print providers and designers to distinctively position themselves in a competitive market by mechanizing the embellishment design process.</p>
  
 <p>The Scodix AI tool leverages collected data to suggest design options for embellishments autonomously. It works in harmony with any web interface and can be integrated into web-to-print platforms and online storefronts. Additionally, Scodix AI can be used along with Scodix Sense and Scodix Foil applications to add glossy, embossed textures or personalized foil coating to prints.</p>
 <p>The firm offers digital print enhancement presses, providing embellishment solutions aimed at the print industry. Scodix presses are developed for a variety of applications, encompassing commercial print, packaging, web-to-print, publishing, and branding.&nbsp;</p>
 
</div>

Scodix introduces Scodix AI for print design automation

Exploring the limitless possibilities of AI

Generative AI Applications

<div>

 <p>Langdock, a German startup that offers employee productivity tools, has raised $3 million in a seed funding round. The round was led by General Catalyst and La Famiglia, with additional contributions from Y Combinator and several German founders.</p>
 <p>The company intends to use the raised capital to extend its operations and intensify its development efforts.</p>
 <p>Langdock's mission is to assist businesses by offering a platform to manage large language models (LLMs). Their services enhance employee productivity through features such as AI chat assistants and automated workflows. As of now, over 40 companies, including Merck, GetYourGuide, HeyJobs, and Forto, are leveraging Langdock's solutions.</p>

</div>

Langdock raises USD 3 million in seed funding to expand operations

Technologies bringing about a new reality

Extended Reality

<div>
 <p>Sandbox VR has launched a franchise program in the US, and is entering into a partnership with Netflix for a virtual reality (VR) experience based on Zack Synder's Rebel Moon – Part Two: The Scargiver. The franchising program, previously only available internationally, comes with an anticipation of an average net revenue of $1.9 million for US stores in 2023, and a net promoter score (NPS) between 67 and 74.</p>
 <p>In addition, a Rebel Moon-themed VR experience is set to launch in London. This engaging experience will transport users into an interactive virtual world where they navigate through underworld mines and battle antagonistic soldiers and spacecraft.</p>
</div>

Sandbox VR to make location-based VR game based on Rebel Moon movie; announces franchising model

<div>

<p>Microsoft Research has unveiled an Artificial Intelligence (AI) model named VASA-1 that can produce realistic animations using a single image and an audio clip. The model, based on machine learning techniques, merges a static image with an audio file to create an animated video. The animations generated can possess accurate head movements, facial expressions, and can lip-sync to the audio.</p>
<p>However, Microsoft asserts that while VASA-1 is capable of utilizing pre-existing audio inputs, it cannot clone or replicate voices.</p>

</div>

All Updates