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      <p>
        Specialty underwriter Nexus, part of London-based broker and managing general agent (MGA) group Kentro Capital, announced that it has completed an acquisition of cyber insurance MGA Evolve for an undisclosed sum.
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      <p>
        The acquisition marks Nexus&rsquo; entry into the cyber insurance market, combining its existing data-driven underwriting capabilities with Evolve&rsquo;s distribution network and cyber expertise. Under Nexus, Evolve will offer a new &ldquo;Evolved NexGen&rdquo; policy backed by Lloyd&rsquo;s of London.
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      <p>
        Evolve is Nexus&rsquo; 17th acquisition since its inception in 2008. The firm follows an acquisition strategy to expand its business and capabilities, snapping up insurers and supporting services across all geographies and various classes of specialty insurance.
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    <a href="https://www.nexusunderwriting.com/asia/en-us/news/nexus-completes-acquisition-of-evolve-cyber-insurance">
      Company press release
    </a>
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  <p>
    <a href="https://www.insurancebusinessmag.com/us/news/cyber/nexus-swoops-for-californiabased-cyber-mga-452749.aspx">
      Insurance Business
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Cyber Insurance

Nexus Underwriting acquires cyber MGA Evolve for undisclosed sum

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

PROMINENT_CATEGORY

<div>
 <p>Alibaba Cloud has announced updates to its AI infrastructure that aim to optimize and streamline resources for AI applications. These updates provide several improvements to aspects such as resource management, energy efficiency, and data utility.</p>
 <p>The updates include the introduction of a next-gen data center architecture named "CUBE DC 5.0". An Open Lake Solution has been introduced for superior data management. Another addition is an AI Scheduler, for integrated model training and inference. Finally, a new DMS platform has been developed for a unified approach to metadata management.</p>
</div>

Alibaba Cloud launches revamped full-stack AI infrastructure to support development of AI models

Moving industry forward with next-gen advancements in energy storage and transmission

Alternative Energy

ANALYST_QUICK_TAKE

<div>
 <p>Twelve, a company from California which specializes in CO2 utilization, has successfully raised a total of USD 645 million in funding. The funding is a mix of different kinds of capital, specifically USD 400 million in project equity which TPG Rise Climate led, USD 200 million that was raised in Series C financing, and USD 45 million in credit facilities led by funders in the renewable energy field. The company's total funding has now reached USD 889.4 million.</p>
 <p>The company plans to use the funds to finish the completion of AirPlant One, a SAF facility located in Moses Lake, Washington. The facility is planned to start production in 2025 and it is the first in a series of facilities across the nation that will produce E-Jet fuel. The company will utilize its patented technology to produce SAF at these facilities.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//impactalpha.com/twelve-secures-45-million-in-debt-for-its-sustainable-aviation-fuel-plant/"> August 2024 </a> , the company raised USD 45 million in debt financing co-led by Fundamental Renewables, with a USD 25 million construction loan and a USD 20 million green loan from Sumitomo Mitsui Banking Corporation. Twelve’s financing strategy revolves around building a comprehensive capital reserve to enable a seamless supply of SAF from its AirPlant, which is under construction.&nbsp;</p>

Twelve raises USD 645 million in funding to transform CO2 into jet fuel

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 <p>Air Company, a carbon conversion technology provider, has secured USD 69 million in Series B funding. The round was led by Avfuel and saw participation from organisations like Lowercarbon Capital, IQT, Alaska Airlines, Connecticut Innovation's Climate Tech Fund, Duncan Aviation, JSSI, and more. This investment brings Air Company's total funding to USD 108.1 million.</p>
 <p>The raised capital will be used to expand the company’s engineering and research &amp; development capabilities. This will fast-track the evolution of its advanced technology to cater to the escalating demand for Sustainable Aviation Fuel (SAF) in the commercial and government sectors. Existing investors, including Carbon Direct Capital, JetBlue Ventures, and Toyota Ventures, also contributed to the funding round.&nbsp;</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The company converts CO2 into sustainable alcohol and fuels through its patented AIRMADE technology. Its technology has been validated through public and private sector partnerships, including previously announced SAF MoU agreements with major airlines, including JetBlue, Virgin Atlantic, and Boom Sonic, and a USD 65 million contract with the US Air Force Defense Innovation Unit.</p>

Air Company raises USD 69 million in Series B funding to commercialize carbon utilization technology

<div>
 <p>California-based CO2 utilization company, Twelve, has secured USD 645 million in mixed capital funding. This consists of a USD 400 million project equity led by TPG Rise Climate, a USD 200 million Series C financing, and USD 45 million credit facilities spearheaded by renewable energy investors, bringing the company's total funding to USD 889.4 million.</p>
 <p>The newly acquired funds will go towards the completion of the company's AirPlant One SAF (Sustainable Aviation Fuel) facility in Moses Lake, Washington. The facility, which is set to start production in 2025, is one among many planned nationwide facilities dedicated to producing E-Jet fuel. This will be accomplished using Twelve's patented technology for SAF production.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//impactalpha.com/twelve-secures-45-million-in-debt-for-its-sustainable-aviation-fuel-plant/"> August 2024 </a> , the company raised USD 45 million in debt financing co-led by Fundamental Renewables, with a USD 25 million construction loan and a USD 20 million green loan from Sumitomo Mitsui Banking Corporation. Twelve’s financing strategy revolves around building a comprehensive capital reserve to enable a seamless supply of SAF from its AirPlant, which is under construction.&nbsp;</p>

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

AI Drug Discovery

<div>
 
<p>LinkGevity, a company developing drugs addressing aging and related diseases through AI, has been selected for the Women TechEU grant. They are among 40 other applicants from 38 countries. This grant will hasten the development of LinkGevity's technology, assisting them in bringing innovative treatments to the market. The company intends to use its Blueprint Theory of Aging to investigate a possible anti-necrotic therapeutic that could potentially address various concerns related to aging.</p>
<p>Based at the Babraham Research Campus in Cambridge, LinkGevity is focused on the science of longevity. The company's goal is to tackle the challenges of aging and create solutions to allow individuals to enjoy healthier lives for longer durations. Their research concentrates on understanding the aging process and seeking ways to intervene in it.</p>

</div>

LinkGevity receives TechEU grant to accelerate technology developments for AI drug discovery

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 <p>CS Genetics and Rosalind have formed a partnership. Rosalind, a cloud-based SaaS platform, specializes in multi-omics data analysis. CS Genetics is a genomics-technology company with its SimpleCell platform. Their collaboration will enhance single-cell research.</p>
 <p>The partnership's objective is to improve single-cell genomic research. They aim to offer a solution that speeds up the discovery process. This will help biopharma and academic researchers carry out larger, more rigorous single-cell projects.</p>
 <p>CS Genetics' disruptive platform is specifically for single-cell genomics. It uses instrument-free, solution-phase chemical biology and a molecular process called kinetic confinement. These contribute to generating simple and scalable workflows.</p>
 
</div>

CS Genetics and Rosalind partner to enhance single-cell genomic R&D

Exploring the limitless possibilities of AI

Generative AI Applications

<div><p>Hippocratic AI, an artificial general intelligence company for health, has garnered USD17 million in extended Series A funding from NVentures (an NVIDIA's venture capital), Greycroft, and Leo Shapiro. Hence, the total funding for the firm so far reached USD 137 million, valuing it at USD 500 million.</p><p>This funding will bolster the existing partnership between Hippocratic AI and NVIDIA. To facilitate low-latency and long-context conversational capabilities, Hippocratic AI utilizes NVIDIA NIM microservices to amplify its production platform. Their joint project includes the development and integration of real-time, long-context conversational AI processes like prefix caching, speculative decoding, and prefill/decode disaggregation.</p></div>

Hippocratic AI raises USD 17 million in extended Series A funding from NVentures

Information to create a more efficient, cleaner and safer way to travel in the city of the future

Smart Mobility Information

<div>
 <p>Tallinn, the capital city of Estonia, is partnering with smart traffic enforcement technology provider Hayden AI to run a pilot project that will use AI for monitoring bus lanes and bus stops. </p>
 <p>The 90-day pilot project is being implemented as part of the broader "Test in Tallinn" initiative, which encourages companies to demonstrate their innovative solutions in a live environment. The specific aim of this project is to identify the volume of traffic violations taking place on two key routes in the city centre of Tallinn. </p>
 <p>Should the technology prove successful, the city intends to use it to decrease travel times in public transport, limit traffic accidents, and curb the illicit use of bus lanes. </p>
 
</div>

Tallinn partners with Hayden AI to pilot automated bus lane monitoring

Foundation Models

INCUMBENTS_PRESENT

<div>
 <p>Chinese ecommerce giant, Alibaba, has recently unveiled over 100 open-source AI models and various technological updates in a bid to stay competitive against both local and global competition.</p>
 <p>These AI models, dubbed as "Qwen 2.5," boast impressive mathematical and coding capabilities, and are uniquely designed to produce text and images based on the given prompts. Alibaba anticipates that these newly-launched AI models will be extensively used across multiple sectors, including automotive, gaming, and scientific research.</p>
 <p>Apart from this, Alibaba has also introduced several improvements for its exclusive flagship model, Qwen-Max. The company asserts that Qwen-Max outperforms similar models from competitors like Meta's Llama and OpenAI's GPT4, particularly in terms of reasoning and language understanding abilities. Included in the release is a new tool that converts text into video format, facilitating users in creating video content from text prompts.</p>
</div>

Alibaba releases over 100 open-source AI models and text-to-video tool

<div>
 <p>AssemblyAI, a developer of speech-based foundation models, and Activepieces, a platform for no-code and low-code automation, have launched a partnership introducing an AssemblyAI integration for the Activepieces platform. This integration offers users the capabilities of AI Speech within their automated workflows.</p>
 <p>This new offer allows users to transcribe and analyze audio using intelligence models, and create generative features using LeMUR. Moreover, users of the Activepieces platform can now seamlessly integrate AssemblyAI's models into their workflows, enhancing their overall efficiency. The integration also provides intuitive input parameters for a swift setup process.</p>
</div>

All Updates

Nexus Underwriting acquires cyber MGA Evolve for undisclosed sum

Alibaba Cloud launches revamped full-stack AI infrastructure to support development of AI models

Twelve raises USD 645 million in funding to transform CO2 into jet fuel

Air Company raises USD 69 million in Series B funding to commercialize carbon utilization technology

Twelve raises USD 645 million in funding to transform CO2 into jet fuel

LinkGevity receives TechEU grant to accelerate technology developments for AI drug discovery

CS Genetics and Rosalind partner to enhance single-cell genomic R&D

Hippocratic AI raises USD 17 million in extended Series A funding from NVentures

Tallinn partners with Hayden AI to pilot automated bus lane monitoring

Alibaba releases over 100 open-source AI models and text-to-video tool

AssemblyAI partners with Activepieces to offer speech AI capabilities

Cyber Insurance

Nexus Underwriting acquires cyber MGA Evolve for undisclosed sum

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