<div>
  <ul>
    <li>
      <p>
        Tandem, a UK-based neobank with a sustainable focus, has secured GBP 20 million (USD 25.4 million) in Tier-2 capital from Quilam Capital, bringing the total funds raised by the company to GBP 154.3 million (~USD 201.2 million).
      </p>
    </li>
    <li>
      <p>
        The company plans to utilize the fresh funds toward expanding its business and sustainability-focused lending initiatives.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        The funding follows Tandem's report of robust 
        <a href="https://sp-edge.com/updates/19058">
          FY2022
        </a>
         results, marking its first profitable year with a net profit of GBP 481,000 (~USD 603,000). Additionally, it reported triple-digit customer growth of 182% YoY, reaching a total of 60,000 retail customers. This reflects the growing demand by customers for green banking services as they become more environmentally conscious.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.tandem.co.uk/newsroom/tandem-bank-secures-ps20-million-after-successful-capital-raise">
      Company press release&nbsp;
    </a>
  </p>
  <p>
    <a href="https://ffnews.com/newsarticle/funding/tandem-bank-secures-20-million-after-successful-capital-raise/">
      Fintech Finance News 
    </a>
  </p>
  <p>
  </p>
</div>


Neobanks

Tandem secures GBP 20 million in Tier-2 capital

The latest line of defense against rising cyber attacks

Cyber Insurance

<div>
 <p>Bitsight, a company specialized in cyber risk exposure data, has purchased Cybersixgill, a cyber threat intelligence vendor based in Tel Aviv, for a sum of USD 115 million. The aim of this acquisition is to offer customers more in-depth insights about vulnerabilities and threats present in the cyber world.</p>
 <p>Bitsight is planning to merge Cybersixgill's automated threat intelligence platform with its own cyber-risk exposure data in order to form a more comprehensive solution. The newly formed platform would allow organizations to keep a close eye on the activities in dark web forums and to consolidate their cybersecurity tools. This further helps in reducing the number of vendors for CISOs.</p>
 <p>Cybersixgill, established in the year 2014, is a threat intelligence platform that utilizes advanced automation and AI-driven features to collect data on a large scale, eliminating the need for human intervention. The company has managed to raise an outside funding of USD 56 million. Sharon Wagner, the ex-CEO of Cloudyn, is the current leader of the company.</p>
</div>

Bitsight acquires Cybersixgill for USD 115 million to enhance threat intelligence capabilities

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

ANALYST_QUICK_TAKE

<div>
 <p>Snowflake, a company specializing in cloud-based data and AI infrastructure, has agreed to acquire Datavolo, a provider of multimodal data pipelines for AI, for an undisclosed sum.</p>
 <p>Datavolo uses Apache NiFi, an open-source project initiated by the NSA, to develop a platform that streamlines data flows between enterprise data sources. Datavolo's technology is designed to process, extract, clean, transform, and enrich data for GenAI applications.</p>
 <p>In the wake of the acquisition, Snowflake intends to integrate Datavolo into its own platform, thereby enhancing its data engineering capacities. This will allow customers to swap out complex, direct connectors for more flexible and reusable pipelines. Snowflake also plans to continue maintaining the Apache NiFi project, while also aiming to expand its presence in the public sector.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This strategic acquisition aligns with Snowflake's focus on the public sector and follows its previous acquisition of <a href="https:<br>
//sp-edge.com/updates/33819"> Night Shift Development </a> in September 2024. This move aimed to enhance decision-making for government agencies by establishing a dedicated entity for the US public sector, enabling new methods of collaboration with public organizations.</p>

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

Data Infrastructure & Analytics

<div>
 <p>Snowflake, a company specializing in cloud-based data and AI infrastructure, has announced its intentions to acquire Datavolo, a firm that provides robust data pipelines for AI applications. The financial details of the agreement remain undisclosed.</p>
 <p>Datavolo makes use of Apache NiFi, an open-source project originally developed by the NSA, to design a platform that automates the movement of data between various enterprise data sources. Their technology handles processing, extraction, cleansing, transformation, and enrichment of data for GenAI applications.</p>
 <p>Post-acquisition, Snowflake intends to absorb Datavolo into its platform in a move to bolster its data engineering capabilities. This merger will enable Snowflake's customers to substitute complicated point-to-point connectors with versatile, reusable pipelines. Furthermore, Snowflake plans to continue the upkeep of the Apache NiFi project and looks forward to expediting its growth in the public sector.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This strategic acquisition aligns with Snowflake's focus on the public sector and follows its previous acquisition of <a href="https:<br>
//sp-edge.com/updates/33819"> Night Shift Development </a> in September 2024. This move aimed to enhance decision-making for government agencies by establishing a dedicated entity for the US public sector, enabling new methods of collaboration with public organizations.</p>

Sustainably solving the food shortages of the future

Smart Farming

<div>
 
 <p>Almanac, an agricultural technology company, has purchased the assets and intellectual property of Gro Intelligence. Gro Intelligence uses an AI-based platform that leverages satellite imagery to offer insights into the effects of weather and climate on crops. The financial details of the deal were not disclosed.</p>
 <p>The platform of Gro Intelligence compiles both public and proprietary data from a range of sources like satellite images, data from the government, trade organizations, and weather reports. These combined data provide valuable insights on climate, food production, and crop yields.</p>
 <p>With the acquisition of Gro Intelligence, Almanac intends to enhance its AI capabilities and also expand its operation into new areas in the food and agriculture value chain. Some of these areas include agricultural insurance, lending, trading, and procurement of Consumer Packaged Goods. The integration of Gro Intelligence's AI-fueled platform is anticipated to bolster Almanac's ability to offer actionable insights throughout the worldwide agricultural sector.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In October 2024, Almanac partnered with WiseConn to combine WiseConn's DropControl system with Almanac's AI-powered farm data analytics and Digital Field Services.</p>

Almanac acquires Gro Intelligence's IP assets for undisclosed sum

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

PROMINENT_CATEGORY

<div>
 
 <p>Aduro Clean Technologies, a Canadian firm that develops recycling technology using water and chemicals, announced a partnership with Zeton, also a Canadian company specializing in pilot plant design and manufacturing, for constructing a Hydrochemolytic Technology (HCT) pilot plant. </p>
 <p>As reported by the partners, the HCT pilot plant capable of 10 kg/hour will be constructed at Aduro's facility located in London, Ontario. Design completion is expected by 2024, with commissioning planned for the third quarter of 2025. The plant aims to showcase the possibility of scaling up Aduro's technology that converts waste plastics into valuable chemicals. This in turn would allow processing various feedstocks for an array of customer applications. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/32576"> August 2024 </a> , Aduro partnered with TotalEnergies to examine a recycling technology for hard-to-recycle plastic waste, aiming to control waste and enhance the process design and operational conditions of Aduro's HCT.</p>

Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant

Bringing fresh produce closer to consumers with efficient, advanced technology.

Vertical Farming

<div>
 
 <p>Vertical farming company, Oishii, which specializes in Japanese omakase strawberries, has raised an additional USD 16 million, concluding its Series B round at a total of USD 150 million. The funding round saw contributions from new investors Resilience Reserve and Miyako Capital, as well as continued support from existing backers such as NTT, Bloom8, McWin Capital Partners, Mizuho Bank, JICN, and Yaskawa Electric Corporation.</p>
 <p>According to the company, the raised funds will be utilized for its inaugural international expansion. This includes plans to inaugurate an Open Innovation Center within the Tokyo metro area, predominantly aimed at further technological advancements in the vertical farming sector.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This latest round of funding follows securing a USD 15 million loan from the United States Department of Agriculture (USDA) in <a href="https:<br>
//sp-edge.com/updates/29034"> May 2024 </a> to transform a vacant building in Phillipsburg into an energy-conserving production facility housing a high-tech indoor vertical farming operation. Further, in <a href="https:<br>
//sp-edge.com/updates/27033"> February 2024 </a> , Oishii raised USD 134 million in Series B funding to open a solar-powered facility, expand distribution to new markets, and invest in advanced robotics and energy-saving innovations.</p>

Oishii raises USD 16 million in Series B funding from Resilience Reserve

<div>
 
 <p>UK-based hydroponic vertical farm, GrowUp Farms, has appointed Mike Hedges as its new CEO. His role will involve driving the company's growth plans in the future.</p>
 <p>Hedges comes to GrowUp Farms with 20 years of experience from the food and beverage industry and has worked with brands like Proper, Tyrrells, Twinings, Bulmers, and was recently the CEO of Little Moons.</p>
 
</div>

GrowUp Farms appoints Mike Hedges as CEO

Modern tools to train and motivate staff, and bridge emerging skill gaps.

EdTech: Corporate Learning

<div>
 <p>Rise Up, a company that offers adaptive learning solutions, has acquired Yunoo, an ecommerce application developed for learning management systems. Yunoo's application helps training providers generate income from their content, by offering integrated tools for sales, customer management, and learner tracking. The platform also allows organizations to establish branded stores, capitalize on training content, and manage customer experiences.</p>
 <p>This acquisition aims to assist Rise Up in changing training from being an expense to a source of revenue. The integration means that Yunoo's features will only be accessible via Rise Up to new customers, while existing Yunoo users will continue to be able to use their current learning management system platform.</p>
</div>

Rise Up acquires Yunoo and expands LMS monetization capabilities

Travel Tech

INCUMBENTS_PRESENT

<div>
 <p>Uber has introduced five new features to improve the airport travel experience during holidays: UberXXL, UberX Share at airports, new Uber Reserve features, Uber Shuttle updates at LaGuardia Airport, and a Home Screen Widget for iPhone users.</p>
 <p>The new features include UberXXL, providing larger trunk space for luggage at 60 global airports; UberX Share, enabling riders to split trips with another airport traveler in selected cities; the Flight Capture feature in Uber Reserve for flight tracking and scheduling; a new Uber Shuttle route from Manhattan to LaGuardia Airport; and an iPhone widget for quicker ride requests.</p>
 <p>Uber asserts these updates will allow smoother and more economical airport travel. UberX Share reportedly provides up to a 25% savings compared to regular UberX fares. Also, eligible Uber One members can receive USD 20 in Uber Cashback on UberXXL rides from November 20 to December 1.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This product development falls under Uber's growing effort to enhance its airport travel initiative. In <a href="https:<br>
//www.uber.com/en-AE/newsroom/uber-partners-with-dubai-airport-to-facilitate-visitor-influx-in-tourist-season-and-launches-new-travel-feature/"> January 2023, </a> Uber partnered&nbsp;with Dubai Airport to improve riders' on-ground commute experience when arriving in Dubai.</p>

Uber releases five new features for holiday travel season

<div>
 <p>Apaleo, a property management platform, has secured a growth equity funding of approximately USD 21 million led by PSG Equity. Other participators in the funding are Redalpine, FOMCAP IV, and Rockaway Ventures.</p>
 <p>This funding will help Apaleo to accelerate its international expansion, acquire a stronger presence across Europe and other global regions, and expand its team. The fund will also assist in further platform development and in expanding its reach in the accommodation and serviced living industries.</p>
 <p>Apaleo provides a cloud-based property management system (PMS) specially designed for the hospitality industry. The open platform includes features for managing reservations, accounting, and customers, and it is integrated with APIs and a marketplace of third-party applications.</p>
</div>

All Updates

Tandem secures GBP 20 million in Tier-2 capital

Bitsight acquires Cybersixgill for USD 115 million to enhance threat intelligence capabilities

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

Almanac acquires Gro Intelligence's IP assets for undisclosed sum

Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant

Oishii raises USD 16 million in Series B funding from Resilience Reserve

GrowUp Farms appoints Mike Hedges as CEO

Rise Up acquires Yunoo and expands LMS monetization capabilities

Uber releases five new features for holiday travel season

Apaleo raises EUR 20 million in growth equity funding to accelerate expansion

Neobanks

Tandem secures GBP 20 million in Tier-2 capital

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