<div>
 <ul>
 <li>
 
 Recognise Bank, a UK-based digital SME lender and savings bank, raised GBP 25 million (~USD 30 million) in a funding round led by PV27. The company&rsquo;s total equity funding currently stands at more than GBP 95 million (~USD 115 million).
 
 </li>
 <li>
 
 Since September 2021, Recognise Bank supported more than 1,000 SMEs with more than GBP 112 million (~USD 135 million) in commercial lending and over GBP 117 million (~USD 141 million) in business savings.
 
 </li>
 <li>
 
 The funds will be used for product and technology development and to support its commercial lending services.
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://www.recognisebank.co.uk/news-and-views/recognise-bank-secures-25m-investment/">
 Company press release
 </a>
 
 
 <a href="https://fintech.global/2022/12/22/digital-sme-lender-recognise-bank-raises-25m/">
 FinTech Global
 </a>
 
</div>

Neobanks

Recognise Bank raises GBP 25 million in funding

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

ANALYST_QUICK_TAKE

<div>
 UK company Wayve, which specializes in autonomous vehicle tech, has successfully raised USD 1.05 billion in a Series C funding round. Major participants of this round included SoftBank Group, NVIDIA, and their existing investor, Microsoft. With this latest round of investment, Wayve's total funds now stand at over USD 1.3 billion.
 The funds accrued will be utilized by the company to further advance its AI-assisted automotive technologies and autonomous driving technologies. Furthermore, Wayve also intends to use this capital to broaden its operations at a global level.
 This funding round has not only been recognized as the largest AI fundraiser in the UK but also ranks among the top 20 AI fund raises worldwide.
</div> Analyst QuickTake: 
 Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our <a href="https: 
//sp-edge.com/industry/70"> Auto Tech </a> and <a href="https: 
//sp-edge.com/industry/1"> Last-mile Delivery Automation </a> hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company <a href="https: 
//sp-edge.com/companies/588243"> Pony.ai, </a> which has raised USD 1.33 million to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer <a href="https: 
//sp-edge.com/companies/454812"> Nuro, </a> which has raised USD 2.1 billion to date.

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 Wayve, a UK-based company specialising in autonomous vehicle technology, has successfully raised USD 1.05 billion in a Series C funding round. SoftBank Group led this round of funding, with participation coming from NVIDIA and existing investor Microsoft. The total amount of funds raised by the company now exceeds USD 1.3 billion.
 Wayve stated its intent to use these new funds to further develop autonomous and automated driving technologies. This includes their AI-assisted automotive technologies. Furthermore, there is also a plan to expand the company's operations on a global scale.
 This funding round has been noted as the UK’s largest AI fundraiser, and is also one of the top 20 AI fund raises worldwide.
 
</div> Analyst QuickTake: 
 Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our <a href="https: 
//sp-edge.com/industry/70"> Auto Tech </a> and <a href="https: 
//sp-edge.com/industry/1"> Last-mile Delivery Automation </a> hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company <a href="https: 
//sp-edge.com/companies/588243"> Pony.ai, </a> which has raised USD 1.33 million to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer <a href="https: 
//sp-edge.com/companies/454812"> Nuro, </a> which has raised USD 2.1 billion to date.

Empowering sustainable food innovation through food engineering tech

Novel Foods

INCUMBENTS_PRESENT

<div>
 A Canadian firm, CULT Food Science, leader in the cellular agriculture technologies and products domain, has raised CAD 800,000 (~USD 585,140) by selling 16,000,000 units at CAD 0.05 (~USD 0.04) per unit. The private placement was administered by PowerOne Capital Markets Limited.
 The funds will be channeled towards expanding the Noochies! Freeze-Dried Dog and Cat Snacks line. Noochies! is recognized as North America's first vegan cat treat and is made using Bmmune, a cultured yeast protein.
</div>
 Analyst QuickTake: 
 Beyond its investments in cellular agriculture, CULT Food Science has developed proprietary pet food ingredients. These include Bmmune, a nutritional yeast fused with fermented proteins, Bflora, a probiotic tailored for the gastrointestinal health of cats and dogs, and <a href="https: 
//sp-edge.com/updates/24575"> Bmeaty </a> , an ingredient that adds umami flavor to pet food products.

CULT Food Science raises CAD 800,000 via private placement to expand sustainable pet food range

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

Plant-based Meat

PROMINENT_CATEGORY

<div>
 THIS, a UK-based plant-based meat company, has launched a unique, hyper-realistic plant-based chicken thigh product. It's the first such product to hit retail markets.
 This product uses three proprietary technologies to replicate the complex three-dimensional structure of real meat. It uses extrusion technology to get a meat-like texture, incorporates olive oil-based fat for richness, and applies a seaweed layer to emulate the texture of chicken skin.
</div> Analyst QuickTake: 
 This new product joins the company’s extensive range of plant-based chicken offerings that includes products like <a href="https: 
//sp-edge.com/updates/23904"> THIS Isn’t Chicken Pieces </a> , <a href="https: 
//sp-edge.com/updates/25182"> THIS Isn’t Chicken Breast </a> , and the recently launched <a href="https: 
//sp-edge.com/updates/28147"> THIS Isn’t Chicken Shawarma </a> .

THIS launches most realistic plant-based chicken product to date

<div>
 The Plant-Based Seafood Co., a plant-based seafood manufacturer, has joined forces with Wegmans Food Markets. This partnership will allow the distribution of the company's Mind Blown-branded products in 80 Wegmans outlets throughout the US.
 Starting in May, consumers in several states including Washington D.C., Delaware, Massachusetts, Maryland, New York, New Jersey, North Carolina, Pennsylvania, and Virginia will have the opportunity to buy Mind Blown’s Plant-Based Crab Cakes and Dusted Scallops from Wegmans. 
</div> Analyst QuickTake: 
 The company previously partnered with US retailer Harris Teeter to launch Mind Blown products across 261 locations in several states. Further, in <a href="https: 
//sp-edge.com/updates/22463"> October 2023 </a> , it partnered with Sam Rust Seafood, a wholesale supplier, to increase the accessibility of its plant-based seafood alternatives to American consumers.

The Plant-Based Seafood Co. partners with Wegmans to expand distribution in US

Platforms, apps, and cards to keep the corporate wallet in check

Business Expense Management

<div>

Jeeves, a B2B payments platform operating in Latin America, has secured a USD 75 million credit facility from Community Investment Management (CIM), an investment manager with a focus on global impact. This credit facility will support Jeeves in broadening its product suite, such as Jeeves Pay, primarily in Brazil, Colombia, and Mexico.
 
Jeeves Pay is now available in Brazil as a part of this expansion. This service facilitates cross-border payments across numerous countries. It also provides a BRL account for Brazilian businesses to receive and manage their funds. Jeeves has seen a 150% growth in payment volumes since its launch in Latin America.

</div> Analyst QuickTake: 
 The latest funding round doubles down on the company's focus on Latin American markets, where it has experienced rapid growth. As of June 2023, the company revealed that around 60% of its revenue is generated from Colombia, Mexico, and Brazil.

Jeeves raises USD 75 million in debt funding to expand in Latin America; Jeeves Pay launches in Brazil

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

Logistics Tech

<div>
 Humanoid robot developer Agility Robotics has forged a partnership with Zion Solutions Group, a comprehensive system integrations provider. The partnership aims to introduce humanoid robotics solutions in the supply chain industry, particularly for tasks difficultly managed by human labor due to frequent turnovers and injuries.
 Zion is set to incorporate Agility Robotics' offerings into its warehouse solutions and designs. This includes the bipedal humanoid robot called 'Digit' and 'Agility Arc' - a cloud automation platform.
 With this partnership, Zion has become the first systems integrator to bring a humanoid robot to the supply chain industry.
</div> Analyst QuickTake: 
 The partnership marks one of the first serious attempts at bringing humanoid robotics into the supply chain industry, with high expectations of a future where humans and robots work collaboratively in warehouses. Agility Robotics previously partnered with Amazon to test Digit units at the latter’s warehousing facilities <a href="https: 
//sp-edge.com/updates/22840"> (October 2023) </a> and GXO Logistics to test robots at a facility in Georgia <a href="https: 
//sp-edge.com/updates/24716"> (December 2023). </a>

Agility Robotics partners with Zion Solutions to offer humanoid robotics for supply chain industry

<div>
 Cepton, a manufacturer of LiDAR sensors, has unveiled StudioViz, a new LiDAR simulation platform. The purpose of StudioViz is to facilitate the use of LiDAR technology and to hasten the development and deployment of LiDAR-based advanced driver assistance systems (ADAS) and autonomous vehicles (AV).
 This platform allows for the development of virtual environments for testing LiDAR-based systems. It also provides high-definition visualization of LiDAR data, optimizes the positioning of sensors, supports the assessment of sensor fusion, and aids in the formation of perception solutions.
 StudioViz aims to decrease the costs and time required for hardware integration and data collection, making it an efficient choice for testing, validating, and improving LiDAR-based ADAS and AV solutions.
 
</div> Analyst QuickTake: 
 Today, we notice increasing efforts directed toward developing LiDAR and other technology simulation platforms. Peer LiDAR maker <a href="https: 
//sp-edge.com/companies/468302"> Luminar Technologies </a> partnered with Applied Intuition for LiDAR simulation <a href="https: 
//sp-edge.com/updates/28711"> in April 2024, </a> while <a href="https: 
//sp-edge.com/companies/443410"> Helm.ai, </a> a developer of ADAS and AV software, released a new high-fidelity virtual scenario generation model for developing ADAS and AV systems in <a href="https: 
//sp-edge.com/updates/28710"> April this year </a> . Additionally, <a href="https: 
//sp-edge.com/companies/617760"> Foretellix, </a> an Israel-based developer of verification and validation platforms for ADAS solutions, introduced a new high-fidelity sensor simulation service to enhance AV performance and safety <a href="https: 
//sp-edge.com/updates/27894"> in March 2024. </a>

Cepton introduces LiDAR simulation platform 'StudioViz'

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

<div>
 Volta, which developed a smart wallet platform, has managed to secure USD 4.1 million in a seed funding round. Prominent investors like Fika Ventures and Haven Ventures took the lead, with contributions also coming from Dispersion Capital, Soma Capital, and Uphonest Capital.
 The firm plans to put the newly acquired funds to good use by optimizing its smart wallet platform, named Volta Circuit. The intention is to speed up the growth and expansion of the platform.
 The Volta Circuit is unique. It operates as a multi-signature, non-custodial platform. This system allows for the proper handling of cryptocurrency and tokenized assets that are based on real-world entities. &nbsp;
</div>

Volta raises USD 4.1 million in seed funding to expedite growth of smart wallet platform

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 Palo Alto Networks, a cybersecurity firm, introduced Prisma SASE 3.0, an updated version of its secure access service edge (SASE) platform. Prisma SASE 3.0 is unique in its protection of both managed and unmanaged devices using a native enterprise browser, according to the company.
 The new platform update includes the Prisma SASE App Acceleration, capable of enhancing application performance by creating dynamic app content per user. Other features include the Dynamic Privileged Access, a project-based segmentation and access control service, as well as a large language model (LLM)-based document classification tool.
 
</div>

All Updates

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

CULT Food Science raises CAD 800,000 via private placement to expand sustainable pet food range

THIS launches most realistic plant-based chicken product to date

The Plant-Based Seafood Co. partners with Wegmans to expand distribution in US

Jeeves raises USD 75 million in debt funding to expand in Latin America; Jeeves Pay launches in Brazil

Agility Robotics partners with Zion Solutions to offer humanoid robotics for supply chain industry

Cepton introduces LiDAR simulation platform 'StudioViz'

Volta raises USD 4.1 million in seed funding to expedite growth of smart wallet platform

Palo Alto launches Prisma SASE 3.0, extending protection to unmanaged devices