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      <p>
        SWITCH Maritime, a company developing hydrogen-powered ferries, has raised USD 10 million in a Series A funding round led by Nexus Development Capital, a low-carbon investor.
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      <p>
        The company intends to use the funds for the expansion of its fleet of zero-emission vessels.
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      <p>
        Founded in 2018, SWITCH Maritime is a US-based company that aims to reduce carbon emissions from ferry operations by replacing traditional diesel-powered fleets with zero-emission vessels. The company successfully launched Sea Change, the world's first commercial hydrogen fuel-cell vessel, in San Francisco Bay in 2021.&nbsp;
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  <p>
    <a href="https://www.offshore-energy.biz/switch-maritime-raises-10-million-to-grow-hydrogen-and-electric-ferry-fleet/">
      Press release
    </a>
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Hydrogen Economy

<div>
  <ul>
    <li><p>SWITCH Maritime has raised $10 million in a Series A funding round led by Nexus Development Capital. The company plans to use the funds to expand its fleet of hydrogen-powered ferries, which aim to reduce carbon emissions from ferry operations. SWITCH Maritime was founded in 2018 and successfully launched the world's first commercial hydrogen fuel-cell vessel, Sea Change, in San Francisco Bay in 2021.</p></li>
  </ul>
</div>

SWITCH Maritime raises USD 10 million in Series A funding to expand fleet

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

ANALYST_QUICK_TAKE

<div>
 <p>Self-driving vehicle technology company, Pony.ai, which is based in China and the US, has filed for an initial public offering (IPO) in the US. The company plans to list on the Nasdaq using the ticker symbol “PONY.”</p>
 <p>In the first half of 2024, the company doubled its revenue to USD 24.7 million whilst reporting a net loss of USD 51.3 million for the same period. This is an improvement from a net loss of USD 69.4 million in the first half of 2023.</p>
 <p>The company currently operates a fleet of over 250 robotaxis and has reached 20.8 million miles of autonomous driving. This includes 2.4 million miles of fully-autonomous driverless mileage.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The influx of Chinese firms seeking US stock market listings has dwindled in recent years following <a href="https:<br>
//www.scmp.com/business/banking-finance/article/3161307/days-after-go-ahead-vie-structures-beijing-releases"> Beijing's 2021 tightened restrictions </a> on overseas fundraising activities. However, Pony.ai <a href="https:<br>
//sp-edge.com/updates/28771"> got approval </a> from Chinese securities for a US IPO in April 2024. Chinese regulators have also allowed autonomous vehicle tech firms like <a href="https:<br>
//sp-edge.com/updates/32038"> WeRide </a> and <a href="https:<br>
//www.businesstimes.com.sg/startups-tech/china-approves-autonomous-driving-startup-momentas-us-ipo"> Momenta </a> to list in the US market.</p>

Pony.ai files for US IPO

New data privacy regulations have opened up space for a new wave of compliance-focused startups.

Digital Privacy Tools

PROMINENT_CATEGORY

<div>
 <p>MineOS has updated its data governance and privacy platform with the release of Data Subject Request (DSR) Management 2.0. This upgrade introduces the no-code Infinite Integration Builder, which enables organizations to customize integrations with various backend systems, platforms, and Software as a Service (SaaS) applications.</p>
 <p>The new tool provides a no-code solution for organizations to streamline the integration with their data ecosystems. Notable improvements include enhanced automation features, customized rights flow based on geography, an improved ticket flow page, and a revamped approach to API connections.</p>
 <p>According to MineOS, this update simplifies the deployment and maintenance of automated DSR handling, making the process more efficient for businesses. The company also claims quick implementation of the platform within a matter of days, rendering expensive professional services and long implementation periods unnecessary.</p>
</div>

MineOS launches DSR management 2.0

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>LatticeFlow, an AI model evaluation platform, has introduced Compl-AI, a unique evaluation framework to check compliance with the EU AI Act. Available as a free, open-source architecture, the system analyses large language models (LLMs) over 27 technical fields, based on the Act's six ethical guidelines.</p>
 <p>The Compl-AI platform evaluates LLM responses across aspects like bias in responses, general awareness, prejudiced conclusions, adherence to harmful instructions, truthfulness, memorization of copyrighted information, common sense logic, goal manipulation, and prompt leakage. Each model's rating scales from 0 (non-compliant) to 1 (fully compliant), with N/A ratings in case of inadequate data.</p>
 <p>Moreover, the platform reveals the drawbacks of current models and benchmarks, specifically in areas such as robustness, safety, diversity, and fairness. LatticeFlow also suggests that this method could be adapted to review AI models against future regulatory laws, making it a beneficial tool for organizations operating in various jurisdictions.</p>
 
</div>

LatticeFlow launches the first evaluation framework for EU AI Act compliance

Ensuring the right people access the right resources at the right time

Identity & Access Management

<div>
 <p>Zscaler and Okta, a cloud security company and identity management platform respectively, have revealed four new integrations to quicken the adoption of zero trust security measures among their combined customer base.</p>
 <p>The companies hope the partnership will lower risk levels, enhance user interfaces and encourage cross-domain response by using shared telemetry and threat recognition. Critical functions include adaptive access policy implementation, dynamic upgrade of authentication, and security data contextualisation. These integrations aim to bolster the zero trust safety stance of customers, especially in securing remote users, cloud software, and hybrid IT settings amidst an increasingly uncertain risk climate.</p>
</div>

Zscaler and Okta partner to enhance zero trust security initiatives

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 <p>Zscaler, and Okta announced a partnership to introduce four new integrations aimed at strengthening zero trust transformation. Their joint aim is to minimize risk, improve user experience and facilitate cross-domain response through shared telemetry and threat intelligence. </p>
 <p>Some of the main features of these integrations include adaptive access policy enforcement, dynamic step-up authentication, and security data contextualization. The primary focus is to intensify the zero trust security of customers in an environment fraught with risk, especially regarding remote users, cloud applications, and hybrid IT environments.</p>
</div>

InsurTech: Infrastructure

<div>
 
 <p>Herald, a commercial insurance digital infrastructure provider, has secured USD 12 million in a Series A funding round. The round was co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with additional funding from Afore Capital and Underscore Venture Capital. The company's total funding now stands at USD 20 million.</p>
 <p>The funds raised will be deployed for the accelerated development of a unified API to connect insurance brokers and carriers. Particular attention will be given to enhancing the platform's AI capabilities in order to streamline commercial insurance workflows. The company also plans to expand its portfolio and reinforce its ties with carriers.</p>
 <p>Through their digital infrastructure, Herald presents a unified API that connects insurance brokers with carriers. This enables brokers to quote and bind insurance instantly by integrating Herald's API into their existing Agency Management Systems (AMS), Customer Relationship Management Systems (CRM) or custom-built platforms.</p>
 
</div>

Herald raises USD 12 million in Series A funding to enhance AI capabilities

Data Infrastructure & Analytics

INCUMBENTS_PRESENT

<div>
 
 <p>Financial data analytics solution provider ActiveViam has formed a partnership with data platform MongoDB. The joint venture aims to optimize trading, increase the efficiency of risk management decisions and enhance overall financial operations.</p>
 <p>The collaboration allows for the integration of MongoDB's operational data store capabilities with ActiveViam's Atoti platform. This liaison aims to increase the performance of the Atoti platform's intraday real-time dashboards, which display information necessary for the front office, risk, liquidity, and treasury insights.</p>
 <p>In addition, this integration also utilizes third-party tools, such as Kafka streaming connectors and APIs. These tools assist in supporting the operational data flow needed for real-time dashboards. The system seamlessly works with both MongoDB Atlas and MongoDB Enterprise Advanced. This setup provides several connectivity and data flow options between MongoDB and Atoti.</p>
 
</div>

ActiveViam partners with MongoDB to enhance real-time data analytics for financial industry

Making banking work, without the paperwork

Neobanks

<div>
 <p>CapWay, a digital banking solutions company serving underserved communities, has ended its operations. The closure was a result of increased banking partner requirements, fundraising difficulties, and the damaged reputation of the FinTech industry following recent events.</p>
</div>

CapWay shuts down operations

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 <p>LanzaTech, a next-generation carbon transformation company listed on Nasdaq, has obtained USD 3 million in funding from the US Department of Energy's (DOE) Office of Fossil Energy and Carbon Management. This funding is a segment of a larger USD 29 million investment initiative for the advancement of carbon management priorities.</p>
 <p>The money will be utilized for Project ADAPT with the goal of enhancing LanzaTech's capacity to use CO2 as a feedstock to create isopropanol. The project will concentrate on improvements in feedstock versatility, microbial strain optimization, and the efficiency of the entire process. The production of isopropanol from recycled CO2 by LanzaTech can result in over 200% GHG savings compared to production based on fossil carbon.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> <a href="https:<br>
//sp-edge.com/updates/34752"> Earlier this month </a> , LanzaTech expanded its biorefining platform capabilities to include the production of LanzaTech Nutritional Protein (LNP), a protein made from the soil bacterium Cupriavidus necator. LNP is a microbial protein that can be used in various food applications, including for human consumption, pet food, and animal feed.&nbsp;</p>

LanzaTech secures USD 3 million from US DOE to advance CO2 conversion

Driving livestock productivity using next-generation biotechnology

Livestock Biotech

<div>
 <p>The Danish government plans to invest DKK 15 billion (USD 2.1 billion) by 2030 in research and development for new climate technologies. This forms part of four research missions geared towards speeding up Denmark's progress towards net zero emissions by 2045.</p>
 <p>Of this large investment, DKK 500 million (USD 73 million) will be set aside for the development of climate-friendly technology in the food sector. This includes initiatives aimed at working towards lowering emissions from livestock and fertilizers and encouraging the growth of alternative proteins.</p>
 <p>The strategy further entails reinforcing research capabilities, promoting cooperation between authorities, and tackling challenges which might prevent the adoption of new climate technologies within society.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Denmark's agrifood sector, at 25%, is the largest source of the country's greenhouse gas emissions. This investment aligns with recent initiatives like the <a href="https:<br>
//nutrinews.com/en/denmark-introduces-worlds-first-carbon-emissions-tax-on-agriculture/#:<br>
~:<br>
text=Dairy%20farmers%20in%20Denmark%20will,on%20livestock%20starting%20in%202030."> carbon tax </a> on meat and dairy production and the <a href="https:<br>
//sp-edge.com/updates/22720"> national action plan </a> for transitioning to a plant-based food system.</p>

All Updates

SWITCH Maritime raises USD 10 million in Series A funding to expand fleet

Pony.ai files for US IPO

MineOS launches DSR management 2.0

LatticeFlow launches the first evaluation framework for EU AI Act compliance

Zscaler and Okta partner to enhance zero trust security initiatives

Zscaler and Okta partner to enhance zero trust security initiatives

Herald raises USD 12 million in Series A funding to enhance AI capabilities

ActiveViam partners with MongoDB to enhance real-time data analytics for financial industry

CapWay shuts down operations

LanzaTech secures USD 3 million from US DOE to advance CO2 conversion

Denmark to invest USD 2.1 billion in climate transition research

Hydrogen Economy

SWITCH Maritime raises USD 10 million in Series A funding to expand fleet

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