<div>
  <ul>
    <li>
      <p>
        Form3, a payments infrastructure provider, is reportedly among the first companies to complete testing and certification for the Federal Reserve's new instant payment offering, FedNowSM Service.
      </p>
    </li>
    <li>
      <p>
        FedNowSM was launched on July 20, 2023 and aims to offer instant payment services for all financial institutions 24 hours a day.&nbsp;
      </p>
    </li>
    <li>
      <p>
        To achieve certification, Form3 met the testing requirements and demonstrated its ability to successfully operate a 24-hour instant payment environment. This certification is an important milestone in validating a participating organization's ability to deliver instant payment services. Notably, Form3 was also part of the FedNow Service Pilot Program from July 2022.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.finextra.com/pressarticle/97559/form3-completes-fednow-certification?utm_medium=rssfinextra&utm_source=finextrafeed">
      Finextra
    </a>
  </p>
</div>


FinTech Infrastructure

Form3 obtains FedNowSM Service certification

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Alphabet's Waymo autonomous vehicles after receiving reports of 22 incidents, including 17 accidents, potentially due to traffic law violations. </p>
 <p>About 444 Waymo cars are under investigation, with the focus on possible non-adherence to traffic control devices and unanticipated behaviors causing accidents.</p>
 <p>The NHTSA plans to scrutinize the Waymo 5th Generation self-driving system to assess its capability in identifying and reacting to traffic signals and preventing collisions with moving and stationary objects. If these vehicles are deemed to present significant safety hazards, the inquiry may result in a recall.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This investigation follows previous probes into other autonomous vehicle companies like <a href="https:<br>
//www.autonews.com/mobility-report/gms-cruise-faces-nhtsa-probe-pedestrian-risks"> General Motors' Cruise </a> and <a href="https:<br>
//sp-edge.com/updates/29367"> Amazon's Zoox. </a> <a href="https:<br>
//sp-edge.com/updates/26569"> In February, </a> Waymo also recalled and updated its vehicles after identifying a software glitch that could misjudge the movements of towed vehicles.</p>

Alphabet’s Waymo under investigation following incidents involving its autonomous vehicles

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

<div>
 <p>Princeton NuEnergy (PNE), a firm specializing in repurposing lithium-ion battery materials, has garnered USD 10.3 million in its Series A funding round. Leading participants in the round include SCGC, Tech Council Ventures, and a division of LKQ Corporation.</p>
 <p>The funds secured will be utilized by PNE to erect an Advanced Black Mass and Cathode Manufacturing Center situated in the southeastern region of the US, also known as the "battery belt".</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The company previously raised USD 16 million in a Series A funding round in <a href="https:<br>
//sp-edge.com/updates/23553"> November 2023 </a> to enhance its processing capacity. This was preceded by a USD 4.4 million grant from the US Department of Energy in <a href="https:<br>
//sp-edge.com/updates/21712"> September 2023 </a> .</p>

Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility

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

Smart Mobility Information

PROMINENT_CATEGORY

<div>
 
 <p>Optibus, a company specializing in urban bus transport planning and management, has joined forces with data analytics platform, Snapper Services. Their aim is to provide a superior level of data analysis for operators within the public transit sector.</p>
 <p>By integrating Optibus's planning and scheduling software suite with Snapper’s transportation analytics platform, Mosaiq Insights, they hope to enhance runtimes, allow for complex data visualization, and monitor service changes' impact for public transportation operators and agencies.</p>
 <p>The collaboration will further enhance the efficiency of Optibus's suite as it enables comparison of static data with historical automatic vehicle location data. Optibus and Snapper Services believe the partnership will provide managers with access to both datasets, assisting in identifying the origins of any service disruptions.</p>
 
</div>

Optibus partners with Snapper Services for improved public transit data analysis

Now anyone can become a software developer.

No-code Software

<div>
 
 <p>Website building platform Squarespace has revealed its decision to go private in a definitive agreement with private equity firm, Permira. The deal is worth approximately USD 6.9 billion in an all-cash transaction.</p>
 <p>The agreement stipulates that Squarespace shareholders will receive USD 44 per share in cash. This represents a 29% premium over the stock’s 90-day volume-weighted average trading price. In addition, General Atlantic and Accel will re-invest under the agreement. CEO Anthony Casalena will hold on to a large majority of his existing equity, maintaining his position as one of the largest shareholders.</p>
 
</div>

Squarespace enters agreement with Permira for USD 6.9 billion to go private

Foundation Models

<div>
 
 <p>OpenAI has introduced GPT-4o (GPT omni), an advanced model with capabilities to process text, audio, and image inputs and outputs, aimed to improve human-computer interaction. The firm states that this model equals the performance of GPT-4 Turbo in English text and code processing, with enhanced efficiency for non-English languages. It is also said to be twice quicker and 50% more economical than GPT-4 Turbo. </p>

<p>This model also reportedly responds to audio inputs around 320 milliseconds, which approaches human response time during dialogues.</p>

<p>At present, GPT-4o offers text and image features. Initial audio outputs remain restricted to predefined voices to comply with safety procedures, while advancements are slated for release in the weeks ahead.</p>

<p>Currently, developers can use GPT-4o in the API as a text and image processing model.</p>

</div>

OpenAI launches GPT-4o, a model to facilitate natural human-computer interaction

Electrifying passenger and commercial travel

EV Economy

<div>
 <p>Mitra Future Technologies Inc., also known as Mitra Chem, a producer of materials for lithium-ion batteries, has secured an undisclosed amount of investment from Alpha Wave Ventures in its Series B funding round. The firm recently achieved successful synthesis of multi-ton Lithium Iron Phosphate (LFP) cathode powder samples matching industry standards for electric vehicles. Mitra Chem is planning to commence mass production of its cathodes by 2026.</p> 
</div> <p><b>Analyst QuickTake:<br>
 </b> This investment follows Mitra raising USD 40 million in a Series B funding round in <a href="https:<br>
//sp-edge.com/updates/21104"> August 2023 </a> . The company intended to use the funds to scale up its R&amp;D and pilot operations and move toward commercializing its cathodes. Furthermore, Mitra partnered with GM, the lead investor, to develop CAM such as lithium manganese iron phosphate (LMFP) for the latter’s EV propulsion architecture, the Ultium Platform.</p>

Mitra Chem secures funding from Alpha Wave Ventures

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 <p>Healthcare technologies firm QIAGEN has received FDA clearance for the clinical use of its QIAstat-Dx Respiratory Panel Plus test. This diagnostic tool was designed for diagnosing upper respiratory infections, such as the SARS-CoV-2 virus, and has previously been authorized under a US FDA Emergency Use Authorization (EUA).</p>
 <p>The QIAstat-Dx Respiratory Panel Plus is capable of detecting 21 viral and bacterial targets by utilizing real-time PCR technology. The test is reported to yield results within an hour and requires minimal hands-on time of about a minute. This makes it convenient for health professionals to use while also providing insightful clinical information through the viewing of cycle threshold (Ct) values and amplification curves. QIAGEN is currently working on further expanding its QIAstat-Dx portfolio in the US, with a gastrointestinal panel under FDA review and a meningitis/encephalitis panel in the works.</p> 
</div>

QIAGEN receives FDA clearance for QIAstat-Dx Respiratory Panel Plus test

<div>
 <p>Lycia Therapeutics, a biotechnology company, has garnered approximately USD 107 million through a Series C funding round. The funding round was steered by Venrock Healthcare Capital Partners and saw the participation of several new investors like Janus Henderson Investors, Marshall Wace, and Franklin Templeton, alongside existing contributors including Redmile Group, RTW Investments, and Eli Lilly and Company.</p>
 <p>The raised capital is expected to be deployed towards advancing Lycia Therapeutics' principal therapeutic candidates connected to autoimmune and inflammatory diseases, into the clinical stage. </p>
 <p>Lycia Therapeutics' main specialization lies in creating cutting-edge therapeutics through its unique platform called Lysosomal Targeting Chimera (LYTAC). This platform's main functionality is to degrade extracellular and membrane-bound proteins that are usually found in autoimmune disorders and cancers. By targeting these so-called 'undruggable' proteins, the company mainly focuses on autoimmune and inflammatory diseases.</p>
 
</div>

Lycia Therapeutics raises USD 107 million in Series C funding for clinical development of lead therapeutic candidates

<div>
 <p>Takeda and AC Immune have formed a global licensing agreement for AC Immune's Alzheimer's treatment, ACI-24.060. This treatment focuses on harmful forms of amyloid beta, and provokes an antibody response that prevents plaque from forming in the brain, thus helping to treat Alzheimer's disease.</p>
 <p>Under the agreement terms, AC Immune will get an upfront payment of USD 100 million, roughly USD 2.1 billion in milestones related to development, commercial, and sales, plus tiered double-digit royalties on worldwide net sales after the product commercialization.</p>
 <p>AC Immune, a biopharmaceutical company based in Switzerland, specializes in developing therapeutic and diagnostic products for neurodegenerative diseases, mainly associated with protein misfolding. The company makes use of two proprietary technology platforms, SupraAntigen and Morphomer, to develop biologics, small molecules, and vaccines. Key drug candidates from AC Immune include Crenezumab, intended to slow Alzheimer's disease progression, and Semorinemab, aimed at Alzheimer's patients' Tau proteins.</p>
</div>

Takeda and AC Immune partner to develop immunotherapy for Alzheimer's disease

The tools that power remote work are define the next generation of enterprise software.

Remote Work Tools

<div>
 
 <p>Google is partnering with HP to introduce Project Starline, a corporate teleconferencing system, anticipated to be commercially accessible in 2025. Announced prior to the Google I/O 2024 conference, the project aims to replicate face-to-face interactions in a virtual setting, enhancing the authenticity of remote discussions.</p>
 <p>Project Starline creates a realistic virtual meeting environment by combining 3D imaging, cameras, and unique screens. It integrates seamlessly with video conferencing platforms like Google Meet and Zoom, and possesses the ability to simulate the feel of a physical conversation irrespective of distance.</p>
 
</div> <p><b>Analyst Quicktake:<br>
 </b> This announcement comes after years of testing and private technical previews, during which the project faced numerous setbacks in the project's early days (which began in 2021), including technical challenges, and a reorganization of its in-house R&amp;D division in 2022.</p>

All Updates