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        Carbios, a biotech firm that recycles PET plastics and polyester fibers using an enzymatic process, has secured funding to create the world's first PET bio-recycling plant led by sustainable chemicals company Indorama Ventures.
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        Of the EUR 230 million (~USD 243 million) investment, EUR 110 million (~USD 116.3 million) will be from Indorama Ventures; EUR 30 million (~USD 31.7 million) from the French government; and EUR 12.5 million (~USD 13.2 million) from the Grand-Est regional government.; with the balance EUR 78 million (~USD 82.5 million) from Carbios itself.
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      <p>
        The facility will be built on a 13.7 acre portion of Indorama&rsquo;s existing PET plant site, expected to be operational by 2025. The plant will have the capacity to process ~50,000 tons of post-consumer PET waste yearly.
      </p>
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  <p>
    <a href="https://www.yahoo.com/lifestyle/biotech-pioneer-carbios-build-world-145354282.html">
      Yahoo
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Waste Recovery & Management Tech

DISRUPTOR_PRESENT

PROMINENT_CATEGORY

The world's first PET bio-recycling plant is set to be created by biotech firm Carbios, with funding from sustainable chemicals company Indorama Ventures. The project will receive a total investment of EUR 230 million (~USD 243 million), with Indorama Ventures contributing EUR 110 million (~USD 116.3 million), the French government EUR 30 million (~USD 31.7 million), the Grand-Est regional government EUR 12.5 million (~USD 13.2 million), and EUR 78 million (~USD 82.5 million) from Carbios. The plant, expected to be operational by 2025, will be located on a 13.7 acre portion of Indorama's current PET plant site and have a capacity to process approximately 50,000 tons of post-consumer PET waste annually.

Carbios secures funding to build PET bio-recycling plant

Using data and automation to achieve 24/7 production.

Smart Factory

INCUMBENTS_PRESENT

<div>
 <p>Rockwell Automation, an industrial automation and digital transformation solution provider, has announced its new AI technologies and robotic solutions at ADIPEC 2024 in Abu Dhabi. The new technologies include FactoryTalk Optix platform for human-machine interface, FactoryTalk Analytics LogixAI for production monitoring and predictions, and GuardianAI for equipment failure warnings, as well as Taurob robots which integrate with digital twin and Industrial Internet of Things technologies.</p>
 <p>These solutions, which have been developed through Kalypso, the company's digital services branch, are aimed at helping businesses enhance operational efficiency and sustainability measures, automate inspection and maintenance routines, and minimize downtime, as according to the company.</p>
</div>

Rockwell Automation to launch AI and robotics solutions at ADIPEC 2024

Foundation Models

ANALYST_QUICK_TAKE

<div>
 <p>OpenAI has launched an update for its Realtime API beta, introducing five new voices that can be utilized in speech-to-speech applications. These include names like Ash, Verse, and Ballad, and have been made available at a lower cost.</p>
 <p>The Realtime API aims to facilitate instant speech-to-speech interactions, skipping the need for intermediate text formats. This feature allows for quicker response times and the use of more expressive-sounding voices. The API opens up the opportunity for developers to construct voice assistants. It supports the execution of functions such as placing orders or gathering user data. However, as it is still in beta stage, it currently does not possess client-side authentication.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This is an update to the <a href="https:<br>
//sp-edge.com/updates/34307"> API launched </a> earlier this month. This update introduces new voice options, broadening the creative possibilities for applications utilizing AI-generated speech. By cutting prices, OpenAI aims to attract a wider range of developers, making advanced AI technology more affordable and encouraging innovation across various industries. This move not only strengthens OpenAI's competitiveness in the market but also aligns with the growing demand for more personalized and engaging user interactions.</p>

OpenAI adds new voices and reduces prices for Realtime API

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

<div>
 <p>Brazil's Eve Air Mobility, an eVTOL aircraft producer, has obtained a $50 million bank loan from Citibank, raising its total funding to $604 million.</p>
 <p>This funding will back the firm's agenda of researching and developing aircraft. The recent loan increases Eve's 2Q24 pro-forma liquidity to approximately $480 million.</p>
 <p>With intention letters for 2,900 aircraft, Eve Air Mobility possesses the Advanced Air Mobility industry's biggest pre-order book. The company showcased its initial full-scale eVTOL prototype at 2024's Farnborough Air Show in summer.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This funding follows Eve Air Mobility's earlier USD 94 million equity financing in <a href="https:<br>
//sp-edge.com/updates/31014"> July 2024 </a> and a USD 88 million loan from Brazil's National Development Bank in <a href="https:<br>
//sp-edge.com/updates/34859"> October 2024 </a> . While eVTOL developers such as Eve and <a href="https:<br>
//sp-edge.com/companies/595398"> Joby Aviation </a> have successfully secured funding, their competitor Lilium is facing a significant setback, as it is set to <a href="https:<br>
//sp-edge.com/updates/35308"> file for bankruptcy </a> after the German parliament rejected its ~USD 55 million loan application in <a href="https:<br>
//sp-edge.com/updates/35028"> October 2024 </a> .</p>

Eve Air Mobility raises USD 50 million in bank loan from Citibank

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

AI Drug Discovery

<div>

 <p>AI-biotech firm Aitia and pharmaceutical company Servier have broadened their collaboration, shifting their attention to brain cancer, specifically gliomas. Utilizing Aitia's Gemini Digital Twins and Servier's oncological knowledge, they aim to leverage patient data to seek new drug targets and develop treatments for gliomas. The partnership began in 2022 with drug discovery for multiple myeloma, and later expanded to include pancreatic cancer and Parkinson's disease by January 2024.</p>
 <p>Aitia, previously known as GNS Healthcare, is renowned for its application of causal AI and digital twins technology in expediting drug discovery. They use their exclusive Gemini Digital Twins platform to model diseases, with an aim of revealing hidden biological processes in areas such as oncology, neurodegeneration, and immunology. Aitia rebranded in January 2023, shifting from a general AI approach to a more concentrated focus on drug discovery.</p>
 
</div>

Aitia expands partnership with Servier to discover treatments for gliomas

<div>
 
 <p>Kapoose Creek Bio, a drug developer powered by AI and using substances obtained from nature, has fully acquired Adapsyn Bioscience. Adapsyn Bioscience receives support from Genesys Capital, and it provides a state-of-the-art chemical informatics platform, as well as a lab dedicated to drug discovery. No information regarding the transaction's financial details was released.</p>
 <p>Kapoose Creek Bio intends to use Adapsyn's technology to boost its drug development process after the acquisition. Additionally, the company aims to create new strategies which will aid in discovering, detailing, and creating products derived from nature. The acquisition also allows Kapoose Creek Bio to use Adapsyn's drug development technology, a range of proprietary substances, and its lab for drug discovery.</p>
 
</div>

Kapoose Creek Bio acquires Adapsyn Bioscience's drug discovery lab and informatics platform for undisclosed sum

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 <p>Biotech firm Axonis Therapeutics has successfully raised USD 115 million in a Series A funding round. Major investors included Cormorant Asset Management and venBio Partners, while Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures, and Solasta Ventures also contributed to the funding.</p>
 <p>The capital will facilitate the clinical development of AXN-02, the company's lead candidate. Furthermore, the funding will expand the company's research on KCC2 compounds, contributing significantly to the treatment of neurological disorders.</p>
 <p>Axonis Therapeutics is an innovator in the field of neuromedicines, primarily focusing on potassium chloride cotransporter two (KCC2), which plays a vital role in inhibitory neurotransmission within the brain. Its leading drug candidate, AXN-027, is an industry-first oral small molecule, specifically designed to amplify KCC2 function, which is a necessary component for inhibitory neurotransmission in the central nervous system.</p>
 
</div>

Axonis Therapeutics raises USD 115 million in Series A funding to develop AXN-027 neurology treatment

Technologies bringing about a new reality

Extended Reality

<div>
 <p>Cornerstone OnDemand, a company specializing in learning and talent experience solutions, has announced a strategic alliance with Meta. The partnership aims to augment immersive learning and XR solutions using AI technology.</p>
 <p>This collaboration seeks to democratize immersive learning in enterprises by incorporating Meta's advances in AI and XR technologies. It emphasizes generating more opportunities for companies to efficiently onboard, reskill, and upskill their employees.</p>
 
</div>

Cornerstone and Meta enter strategic partnership to revolutionize immersive learning and AI-powered workforce development

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>High-performance computing company, NextSilicon, has introduced their latest product, Maverick-2, an Intelligent Compute Accelerator (ICA). A total of USD 303 million was raised from investors such as Aleph, Amiti, and Liberty Technology VC to fund this launch.</p>
 <p>The Maverick-2 dynamically adjusts acceleration in real time with the help of advanced telemetry and patented algorithms. It supports a range of programming languages including C/C++, FORTRAN, OpenMP, and Kokkos. Future integrations planned for CUDA, HIP/ROCm, and AI frameworks are also planned. A unique feature of the accelerator is its ability to create software-defined processor cores that are customised according to the performance need of each application.</p>
 <p>NextSilicon claims that their product, Maverick-2, can attain more than 4x the performance-per-watt ratio of traditional GPUs and over 20x the ratio of high-end CPUs. They also claim that the Maverick-2 can cut down operational costs by over 50% and it uses 50%-80% less power than conventional GPUs.</p>
</div>

NextSilicon launches Maverick-2 intelligent compute accelerator and raises funding for high-performance compute

<div>
 <p>Enterprise AI software company Verax AI has secured USD 7.6 million in seed funding in a round led by TQ Ventures. Co-investors include Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures.</p>
 <p>This funding will help in boosting go-to-market strategies and increasing brand visibility. Alongside, Verax AI has also announced the introduction of the Verax Control Center—an enterprise-level software solution.</p>
 <p>Verax AI specializes in provisioning solutions that enable monitoring of LLM-based products in production, and automatic rectification of improper behavior in real time. It operates on a global scale, with offices based in Dallas, Tel Aviv, and London.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This funding will likely accelerate solutions to AI transparency and risk management challenges, helping companies control LLMs in production. This reflects a growing industry focus on AI accountability, aiming for safer enterprise adoption of AI across sectors.</p>

Verax AI raises USD 7.6 million in seed funding for improved visibility and control of AI in production

Helping employers provide personalized, high-touch, and holistic financial wellness tools to their entire workforce.

Financial Wellness Tools

<div>
 
 <p>Financial Finesse, a company providing financial coaching to employees, has purchased a platform named Color that focuses on aiding employees of color, for an unknown amount.</p>
 <p>Launched in 2020, Color delivers tailored coaching and financial resources to promote financial wellbeing among employees from marginalized backgrounds, enabling them to generate wealth and achieve financial stability.</p>
 <p>With this purchase, Financial Finesse looks forward to incorporating Color's platform and sharing its content with its entire user base, which is comprised of individuals from over 20,000 companies.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The acquisition follows a strategic partnership announced in <a href="https:<br>
//sp-edge.com/updates/20047"> July 2023 </a> , in which Financial Finesse, through its venture arm, invested in OfColor. As part of this collaboration, OfColor also leveraged Financial Finesse's expertise to expand its platform.</p>

All Updates

Carbios secures funding to build PET bio-recycling plant

Rockwell Automation to launch AI and robotics solutions at ADIPEC 2024

OpenAI adds new voices and reduces prices for Realtime API

Eve Air Mobility raises USD 50 million in bank loan from Citibank

Aitia expands partnership with Servier to discover treatments for gliomas

Kapoose Creek Bio acquires Adapsyn Bioscience's drug discovery lab and informatics platform for undisclosed sum

Axonis Therapeutics raises USD 115 million in Series A funding to develop AXN-027 neurology treatment

Cornerstone and Meta enter strategic partnership to revolutionize immersive learning and AI-powered workforce development

NextSilicon launches Maverick-2 intelligent compute accelerator and raises funding for high-performance compute

Verax AI raises USD 7.6 million in seed funding for improved visibility and control of AI in production

Financial Finesse acquires OfColor for undisclosed amount

Waste Recovery & Management Tech

Carbios secures funding to build PET bio-recycling plant

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