<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        General Fusion, a Canadian fusion energy startup, has received an additional CAD 5 million (~USD 3.7 million) from the Strategic Innovation Fund (SIF).
      </p>
    </li>
    <li>
      <p>
        The funds will be invested in the research and development of the company&rsquo;s Magnetized Target Fusion (MTF) demonstration, known as as LM26. The project aims to achieve critical technical milestones by the mid-2030s to establish fusion as a viable, zero-carbon energy source.
      </p>
    </li>
  </ul>
  <p>
  </p>
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<div>
  <p>
    <a href="https://generalfusion.com/post/canadian-government-awards-new-funding-to-general-fusion/">
      Press release
    </a>
  </p>
  <p>
  </p>
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Alternative Energy

<div>
<p>Canadian fusion energy startup, General Fusion, has secured an extra CAD 5 million (~USD 3.7 million) from the Strategic Innovation Fund (SIF). This funding will be utilized for research and development of the Magnetized Target Fusion (MTF) demonstration, or LM26. The goal of this project is to reach crucial technical milestones by mid-2030s, promoting fusion as a practical, zero-carbon energy source.</p>
</div>

General Fusion raises CAD 5 million in research funding

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 <p>Infinium, a developer of low-carbon electrofuels (e-fuels), and SMA Mineral, a Swedish lime and limestone producer, have partnered to develop the former's e-fuels project at the Mo Industripark in Mo i Rana, in Norway.</p>
 <p>Under the partnership, Infinium will capture CO2 from SMA’s Zero Emission Quick Lime production facility as a feedstock for the production of e-fuels.</p>
 <p>In addition, the collaboration is expected to stimulate local economic growth, create more job opportunities, and position Mo i Rana as a key hub for sustainable industries.&nbsp;</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This collaboration was announced on the heels of a <a href="https:<br>
//sp-edge.com/updates/28553"> similar partnership </a> with a subsidiary of midstream energy company Kinetik Holdings to purchase CO2 captured from Kinetik's amine gas processing facilities in West Texas for use at Infinium’s second e-fuels project, Project Roadrunner.</p>

Infinium partners with SMA Mineral to produce e-fuels using waste CO2

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

<div>

 <p>Obligate, a blockchain debt issuing platform, has teamed up with Lisk, a layer-2 network provider. The objective is to launch the protocol on the Lisk network. </p>
 <p>This collaboration aims to utilize Lisk's superior efficiency and scalability, potentially leading to new solutions for real-world and off-chain assets. Worth mentioning, Obligate intends to allow businesses to use their physical assets to secure funding.</p>

</div>

Obligate partners with Lisk to deploy on layer-2 network

<div>
 
 <p>Antonio Juliano, dYdX founder, has decided to step down as CEO of the decentralized exchange platform. He will be taking on the roles of chairman and president of dYdX Trading instead.</p>
 <p>His business partner, Ivo Crnkovic-Rubsamen will take over as CEO, continuing to lead the company's operations, while Antonio will focus on its strategic direction.</p>
 
</div>

Antonio Juliano steps down as CEO of dYdX

<div>
 
 <p>Bitcoin-based lending platform, Zest Protocol, has successfully raised a seed funding round of USD 3.5 million. The funding was led by investor, Tim Draper with additional participation from Binance Labs, Flow Traders, Trust Machines, among others.</p>
 <p>Zest has developed a lending protocol that operates on Stacks, which is a Bitcoin layer-2 network. This protocol enables users to borrow and lend Bitcoin, through the use of a bridging asset named "sBTC". Designed to be pegged to the value of Bitcoin, sBTC allows users to deposit their Bitcoin via a transaction on the Bitcoin blockchain and fund their account balances. Once deposited, these tokens can then be used for lending or engaging in yield-generating activities within the protocol. It's important to note, prior to the official launch of sBTC, the lending infrastructure of the protocol is currently operational on the Stacks’ money market platform.</p>
 
</div>

Zest Protocol raises USD 3.5 million in seed funding

Buy Now, Pay Later

<div>

 <p>Aplazo, a Mexico-based Buy Now Pay Later (BNPL) platform provider, has successfully raised $70 million in an equity funding round. The funding was spearheaded by QED Investors and saw participation from Oak HC/FT, Kaszek, Picus Capital, and Volpe Capital. Of the total amount, $45 million comes from a Series B funding round. This brings Aplazo's total funding received to date to $175 million.</p>
 
 <p>Looking ahead, Aplazo will allocate these newly-acquired funds towards product development and innovation. In particular, the company is interested in incorporating AI capabilities to better meet the diverse needs of consumers and merchants and provide support in decision-making processes.</p>
 
 <p>Due to its expanding market share from both online and offline merchants, in conjunction with a robust financial performance and near breakeven operating over the recent months, Aplazo has experienced a threefold increase in revenue.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Aplazo’s USD 70 million funding comes after Ramp raised <a href="https:<br>
//sp-edge.com/updates/28597"> USD 150 million in Series D </a> (last month) to accelerate AI integration and Colombia-based Addi raised <a href="https:<br>
//sp-edge.com/updates/27801"> USD 86 million in funding </a> , comprising USD 36 million in equity and USD 50 million in debt funding from Goldman Sachs Group (two months ago) to support business expansion.</p>

Aplazo raises USD 70 million in equity and Series B funding

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 <p>AppOmni, a SaaS security company, has introduced a new tool, Zero Trust Posture Management (ZTPM) that strengthens zero-trust security to the level of application layer.</p>
 <p>ZTPM provides extensive insights into SaaS applications, encompassing application configuration, security posture, and user engagement within the application.</p>
 <p>This product by AppOmni addresses the shortcomings of conventional zero-trust architecture by allowing detailed access and configuration control of SaaS applications across a company's environments.</p> 
</div>

AppOmni brings Zero Trust Posture Management to application layer

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

INCUMBENTS_PRESENT

<div>
 <p>Biopharmaceutical company AbbVie is collaborating with Gilgamesh Pharmaceutical, a firm specializing in psychedelic biotechnology. Together they aim to develop innovative treatment methods for psychiatric disorders. Their joint research will focus on creating new "neuroplastogens". This advanced generation of compounds aims to offer substantial clinical advantages while lessening psychoactive side effects. AbbVie will be given the option to lead both the development and marketing aspects of this venture. Additionally, AbbVie is set to pay an advance of USD 65 million to Gilgamesh. Assuming certain milestones and sales-related royalties are met, potential future payments could mount up to USD 1.95 billion.</p>
</div>

AbbVie collaborates with Gilgamesh Pharmaceuticals to develop therapies for psychiatric disorders

Technologies bringing about a new reality

Extended Reality

<div>
 <p>Meta has launched Travel Mode for Quest 2 and 3 headsets, enabling usage in flight and making VR more accessible on planes. They have also teamed up with Lufthansa to offer Quest 3 headsets to business-class passengers on Allegris flights. </p>
 <p>Travel Mode, which can be switched on or off in the Quest settings menu, is still being refined. Currently, it is not compatible with car or train motion, but Meta is working to add this feature. Also, games or apps that need internet will still require Wi-Fi. </p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The update aims to compete with consumer use of the Apple Vision Pro, which is also compatible with flight use. Additionally, the partnership with Lufthansa follows a similar <a href="https:<br>
//sp-edge.com/updates/26455"> partnership </a> inked by Rokid to supply its AR glasses to Hainan Airlines for in-flight entertainment.</p>

Meta announces new Travel Mode for Quest devices; partners with Lufthansa to supply headsets for flights

<div>
 <p>Mark Gurman from Bloomberg has reported that Apple is preparing for the global launch of its mixed reality headset, called the Vision Pro. The device is expected to be revealed internationally following next month's Worldwide Developers Conference.</p>
 <p>Apple is said to be holding a four-day training session for staff in China, Germany, and Japan among others, with a goal to demonstrate the Vision Pro headset to the public.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> If true, the news indicates Apple’s first wave of global rollouts for its Vision Pro headset, currently purchasable solely in the US. The company previously confirmed that it would be <a href="https:<br>
//sp-edge.com/updates/27857"> launching </a> the Vision Pro in China later in 2024, despite <a href="https:<br>
//sp-edge.com/updates/28705"> rumors </a> of cuts in Vision Pro headset shipment forecasts.&nbsp;</p>

Apple reportedly prepares for international launch of Vision Pro headset

<div>
<p>HIF Global, a sustainable e-fuels provider, has secured an investment of USD 164 million in a funding round led by Japanese energy company Idemitsu Kosan and participated by its existing shareholders such as AME, EIG, Porsche, Baker Hughes, and Gemstone Investments. This raises HIF Global's total funding to USD 424 million.</p>
<p>This funding round, orchestrated by Idemitsu, completes the initial phase of the four-part collaboration that was announced in <a href="https://hifglobal.com/docs/default-source/documentos-noticias/chile/hif-idemitsu-strategic-cooperation-agreement.pdf?sfvrsn=d9d7ef33_1"> April 2023 </a>. The collaboration encompasses investment, e-fuels purchasing, development of e-fuels markets in Japan, and the establishment of CO2 supply chains.</p>
<p>The raised capital will be leveraged to accelerate the development of HIF Global's e-fuel projects in multiple global locations, including the US, Australia, Chile, and Uruguay. The firm is currently producing e-fuels at its Haru Oni eFuels facility in Magallanes, Chile and is set to commence building the HIF Matagorda eFuels facility in Texas by the end of 2024.</p>
</div>

All Updates