<div>
  <ul>
    <li>
      <p>
        Aleph Farms, an Israeli cultivated meat producer, has submitted a pre-market authorization dossier with the Food Standards Agency (FSA), seeking approval for its cultivated beef product in the UK.
      </p>
    </li>
    <li>
      <p>
        To date, Aleph Farms is the only cultivated meat producer to have submitted for pre-market authorization with the FSA and will work closely with the regulatory authorities to ensure full compliance.
      </p>
    </li>
    <li>
      <p>
        Given the rigorous approval process for novel food authorization in the UK, it is estimated to take at least 18 months before a decision.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        This news comes after Aleph Farms became the first cultivated meat producer to 
        <a href="https://sp-edge.com/updates/20443">
          seek approval in the EU
        </a>
        . Before Brexit, all novel food authorizations in the EU were handled via the European Food Safety Authority (EFSA), but in January 2021, the UK transitioned to the Food Standards Authority (FSA) for all authorizations in England, Scotland, and Wales. Producers are likely to launch their products in other countries due to lower time and cost requirements than seeking approval in the EU/UK.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://vegconomist.com/company-news/aleph-farms-submits-dossier-cultivated-beef-steaks-uk/">
      Vegconomist
    </a>
  </p>
  <p>
  </p>
</div>


Cell-cultured Meat

Aleph Farms applies for pre-market authorization in the UK

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

<div>
 <p>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.</p>
 <p>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.</p>
 <p>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;</p>
</div>

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

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience.

Neo Insurance

INCUMBENTS_PRESENT

<div>
 
 <p>Trupanion has appointed Margi Tooth as its new CEO, effective from August 1, 2024. Tooth, who presently serves as the company's president, has an extensive background in the pet insurance industry, having worked for over two decades. Her previous roles in the company include chief marketing officer and chief revenue officer, playing a crucial part in Trupanion’s growth and diversification in new business areas and locales.</p>
 <p>Darryl Rawlings, the founder of Trupanion, and outgoing CEO, will stay on board and continue to serve as chairman till 2035.</p>
 
</div>

Trupanion appoints Margi Tooth as new CEO

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

PROMINENT_CATEGORY

<div>
 
 <p>Sylvera, a company from the UK that gives ratings for carbon offset, has added a new feature to its platform. This feature greatly helps in managing and comparing different carbon projects.</p>
 <p>This feature aims to solve the problems of scattered project information and tough analysis, which hamper the transparency of credit access and the quality of the project.&nbsp;</p>
 <p>The new facilities offered by Sylvera have two primary features:</p>
 <ul>
  <li><p><b>Project Catalog</b>, which brings together data from nine registries that covers around 20,000 projects that exist in the carbon market.&nbsp;</p></li>
  <li><p><b>Screening</b> gives a thorough summary of the crucial metrics that show project quality and related risk factors. These factors revolve around carbon accounting, additionality, permanence, and co-benefits.</p></li>
 </ul>
 
</div>

Sylvera launches new tool to simplify carbon project comparison

Automation to improve business efficiency

Workflow Automation Platforms

<div>
 
 <p>Konsolidator A/S, a provider of financial consolidation software, has secured DKK 6 million (around USD 0.8 million) in funding. This investment comes through a private placement, fully backed by 11 private investors, which include all members of the company's board of directors, CEO Claus Finderup Grove, and CFO Jack Skov. </p>
 <p>The company, based in Denmark, didn't specify the exact usage of the funds.  </p>
 <p>Konsolidator provides financial consolidation and reporting services to SMEs, offering cloud-based tools. These tools help in streamlining financial consolidation procedures, managing transactions in multiple currencies, and eases compliance with international accounting norms. </p>
 
</div>

Konsolidator raises USD 0.8 million in private placement

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

Smart Packaging Tech

<p>Packaging solution manufacturer Novolex has strategically invested in OZZI, a reusable container system specialist. The goal of this investment is to promote the expansion of OZZI through the support of Eco-Products, a Novolex business entity that provides circular solutions within the foodservice industry. This move will also grant Novolex's affiliated company Vegware and Eco-Products divisions in Canada and Europe access to OZZI's extensive product portfolio, allowing them to satisfy the global demand for these products.</p>

<p>OZZI is recognized for its O2GO container product line, which encompasses containers, cutlery, and cups, in addition to their Drop N'Go Collection System and Automated Collection Machine. The company's products contribute towards the complete reuse cycle, including washing, sanitizing, drying, and storing. The O2GO containers are perceived as robust and are tailored for coordination with meal plans using barcode technology.</p>

Novolex makes strategic investment in OZZI to support growth through Eco-Products unit

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 
 <p>Solodev, a developer-focused cloud platform integrating CMS products, has introduced Solodev AI, a new feature that enables the design, training, and hosting of AI-based apps and models from a single point.</p>
 <p>The main features of Solodev AI encompass search and chat functionalities, customizable apps obtainable through the AI marketplace, secure hosting of existing AI apps using the AWS-powered cloud, and support for multiple top-notch language models such as GPT-4, OpenLLaMA, and Amazon Titan.</p>
 <p>According to Solodev, the benefits of the newly launched AI platform consist of scalability, top-notch security, and cost-effectiveness for rolling out custom AI-oriented applications.</p>
 
</div> <p>Analyst <b>QuickTake:<br>
 </b> The launch of Solodev AI seems to be the latest addition to Solodevs’ journey of using AI automation on a large scale. In a prior <a href="https:<br>
//www.solodev.com/aws/"> collaboration </a> with AWS, Solodev utilized several specialized services from the Amazon AI/ML stack, including a cloud-based recommendation engine.</p>

Solodev launches Solodev AI, a cloud platform for custom AI apps

Providing a seamless consumer experience is one hope for bringing back brick and mortar retail, automated stores are being built to do just that.

Automated Stores

ANALYST_QUICK_TAKE

<div>
 <p>AiFi, a Californian tech company specializing in automated retail, has joined forces with Acrisure Arena, a sports and entertainment facility, to implement two AI-fueled 'grab-and-go' concession stands. These stands will offer soft drinks, water, beers and pizza to customers.</p>
 <p>To use the stands, customers will be asked to pre-authorize a $25 card payment before entry. If a customer's transaction total is less than $25, they will be reimbursed within a 3-5 day timeframe. Staff will be present to oversee the process and to confirm alcohol purchases.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Sports and entertainment venues are increasingly adopting the grab-and-go store format. As of September 2023, AiFi’s competitor <a href="https:<br>
//sp-edge.com/companies/673529"> Zippin </a> had 71 stores at stadiums and as of April 2024, <a href="https:<br>
//stadiumtechreport.com/editorial/checkout-free-stores-are-doing-well-in-stadiums-anyway/#:<br>
~:<br>
text=(Stadium%20Tech%20Report%20narrator%3A%20Amazon,stadium%20Just%20Walk%20Out%20stores.)"> Amazon </a> ’s Just Walk Out technology powered 73 stadium-based stores.&nbsp;</p>

AiFi partners with Acrisure Arena to launch grab-and-go concession stands

Novel therapies to reboot cells and organs

Cell & Gene Therapy

<div>
 
 <p>Latus Bio Inc., a gene therapy company, has raised USD 54 million in a Series A funding round. The round was led by 8VC and DCVC Bio, and saw participation from the Samsung Life Science Fund and several other undisclosed investors. Samsung Life Science Fund is supported by Samsung Biologics Co., Samsung Bioepis Co., and Samsung C&amp;T Corp.</p>
 <p>The funding will be used by Latus Bio to accelerate the development of their gene therapies for CLN2 disease and Huntington’s disease. By 2025, the company aims to initiate human trials for the therapy designed for CLN2 disease.</p>
 <p>Based in Philadelphia, Latus Bio creates gene therapy solutions for central nervous system (CNS) disorders. The company uses advanced adeno-associated virus (AAV) capsids to increase the accuracy and effectiveness of gene delivery, addressing common challenges associated with traditional gene therapies such as limited potency, off-target effects, and scalability issues. The company's platform involves a high-throughput screening process for millions of novel capsid variants, enabling them to identify those with the best tissue and cellular targeting capabilities, thus reducing potential immunogenicity and toxicity.</p>
 
</div>

Latus Bio Inc. raises USD 54 million in Series A funding

<div>
 <p>Israeli cultivated meat company, Aleph Farms, has collaborated with AI insights platform BioRaptor to optimize production costs and processes. This initiative involves incorporating advanced AI and machine learning tools into Aleph Farms' R&amp;D division. The tools will enable real-time data collection and analysis to refine processes before major infrastructure investments. This integration is expected to enhance process evaluation, forecasting, and scaling up, leading to cost reductions.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> In January this year, Aleph Farms became the only cultivated meat producer to receive <a href="https:<br>
//sp-edge.com/updates/25648"> approval </a> for a cell-cultured beef product. This partnership comes at a crucial time as the company gears up for its first commercial launch and geographic expansion. In line with its expansion plans, the company recently <a href="https:<br>
//sp-edge.com/updates/26828"> partnered </a> with BBGI and Fermbox Bio to build Thailand's first production plant for cellular agriculture applications.</p>

Aleph Farms partners with BioRaptor to optimize cultivated meat production using AI

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

Plant-based Meat

<div>
 <p>Canadian startup Save da Sea, which produces plant-based seafood alternatives, has secured CAD 650,000 (~USD 474,932) in seed funding. Investors include Thrive Lab, a new venture of the Business Development Bank of Canada, Spring, What If Ventures, and YSpace from York University.</p>
 <p>This investment will be used to drive the company's push into the US market and to expand its team.</p>
 <p>Established in 2019, Save da Sea's product range includes a carrot-based smoked salmon substitute and tuna salad made from jackfruit. Initially found in 500 Canadian retail stores, the company recently made its debut in the US market.</p>
</div>

All Updates