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      <p>
        The EU's executive arm, the European Commission, has initiated a competition investigation into Microsoft's multibillion-dollar investment in OpenAI. The Commission intends to examine the competitiveness of the markets for virtual worlds and GenAI.
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      <p>
        The probe aims to better understand the competitiveness of these markets and how competition law can help them. The Commission will specifically study the Microsoft-OpenAI agreement, along with agreements concluded between large digital market players and GenAI developers and providers.
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      <p>
        <b>Analyst QuickTake: </b>
        Microsoft invested significant funds into OpenAI, the creators of AI chatbot ChatGPT. It has incorporated OpenAI's technology into its various products, including Office, Bing, and Windows, and has provided the firm with its own Azure cloud computing tools. Microsoft's initial monetary contribution to OpenAI amounted to USD 1 billion in 2019, and in 2023, it injected another USD 10 billion.&nbsp;
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  </ul>
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Foundation Models

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>The European Commission has begun an investigation into Microsoft's significant investment in OpenAI, with the intention of examining the competitiveness of the GenAI and virtual worlds markets. The probe aims to understand these markets and the role of competition law. In particular, the Commission will focus on the agreement between Microsoft and OpenAI, and any agreements between major digital market players and GenAI developers/providers. </p>
</div> <p><b>Analyst QuickTake: </b> Microsoft invested significant funds into OpenAI, the creators of AI chatbot ChatGPT. It has incorporated OpenAI's technology into its various products, including Office, Bing, and Windows, and has provided the firm with its own Azure cloud computing tools. Microsoft's initial monetary contribution to OpenAI amounted to USD 1 billion in 2019, and in 2023, it injected another USD 10 billion.&nbsp;</p>

EU to investigate Microsoft's multi-billion investment in OpenAI

The intersection of beauty and technology to deliver hyper-personalized products.

Beauty Tech

PROMINENT_CATEGORY

<div>
 <p>Gpower, a manufacturer of beauty tech devices, and cosmetics firm Amorepacific are teaming up to create products capable of diagnosing skin conditions and delivering bespoke skincare at the same time.</p>
 <p>Boosting Amorepacific's beauty tech assets and enhancing customer experience by leveraging Gpower's expertise in the production of beauty devices is the principal aim of this partnership. Both companies are presently working on the arrangement of product development timelines and supply conditions. </p>
 <p>Currently, over 40 hospitals and cosmetic companies are supplied with beauty tech devices by Gpower. These devices and technologies can be found in stores such as Kiehl's, Dr. Ci:Labo, and Olive Young.</p>
 
</div>

Gpower partners with Amorepacific to develop dual-function beauty tech devices

Providing AI-driven market intelligence and workflow automation to give firms an edge

Capital Markets Tech

<div>
 <p>Brightwave, a financial research platform powered by AI, has successfully raised 15 million dollars in a Series A funding round. The round was spearheaded by Decibel Partners and included contributions from OMERS Ventures. This latest round increases Brightwave's total funding to 21 million dollars.</p>
 <p>Brightwave intends to put this funding towards further research and computing efforts aimed at enhancing its knowledge graph and reasoning engine. It also plans to establish strategic partnerships focused on data, as well as expanding both its engineering and commercial departments.</p>
 <p>Established in 2023, Brightwave is designed to provide financial professionals with insights and analytics through its AI-powered platform. Its offerings include knowledge graphs sourced from a variety of data, including SEC filings, earnings call transcripts, real-time news and public internet content. Amongst its features, users can take advantage of a reasoning system which enables them to analyse content, identify changes in management strategies, benchmark multiple companies and pinpoint key factors impacting asset performance.&nbsp;</p>
</div>

Brightwave raises USD 15 million in Series A funding to improve knowledge graph and expand operations

Data Infrastructure & Analytics

<div>
 <p>Data management platform provider, Matia, has successfully raised USD 10.5 million in seed funding. The round was led by Leaders Fund and Secret Chord Ventures, and saw participation from Cerca Partners and Caffeinated Capital.</p>
 <p>The funds raised will be utilized to improve the platform, grow the engineering and product teams, and augment go-to-market strategies.</p>
 <p>Established in 2023, Matia offers a unified data operations platform, amalgamating ingestion, reverse ETL, observability, and catalog capabilities. It is focused on enhancing reliability and fault tolerance in data operations. Renowned customers of the company include Ramp, Honeybook, and Obligo.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This fundraising joins the recent activities in the unified data management platform space over the past week. Notable activities include:<br>
 1) <a href="https:<br>
//sp-edge.com/updates/35312"> Ataccama </a> launching ONE AI Agent, an autonomous data companion part of the Ataccama ONE data trust platform for complex data management tasks, and 2) <a href="http:<br>
//v"> Snowflake </a> announcing a zero-copy partnership with ServiceNow to connect enterprise-wide.</p>

Matia raises USD 10.5 million in seed funding from Leaders Fund

<div>
 <p>GitHub, the software development platform, has made an announcement regarding multi-model support for Copilot, its code completion tool. Now, users who have subscribed to GitHub Copilot can have the freedom to select from models presented by Anthropic, Google, and OpenAI. The new feature is currently accessible to web vs. code users.</p>
 <p>This integration supports Claude 3.5 Sonnet from Anthropics, Google's Gemini 1.5 Pro, and OpenAI's o1-preview and o1-mini models. This allows users the flexibility to switch between models during discussions within Copilot Chat. Furthermore, firms will have the ability to govern which models are activated for their respective teams. Along with this, GitHub is introducing Spark, a new AI tool intended for building web applications using natural language.</p>
</div>

GitHub Copilot integrates models from Anthropic, Google, and OpenAI

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 <p>3D printer manufacturer Axtra3D has teamed up with industrial equipment distributor Ridix to extend its market footprint in Italy.</p>
 <p>Ridix, under the collaboration, is set to disperse Axtra3D's Lumia X1 3D printer, a product that is equipped with Hybrid Photosynthesis technology. Industries such as precision mechanics, molds, biomedical, and more throughout the country of Italy are the target markets. Axtra3D will be able to tap into Ridix's extensive knowledge and experience in industries including metalworking, aerospace, automotive, and medical, as well as their broad sales coverage across the nation.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Over the last three months, Axtra3D has been taking active steps to expand its global presence and improve the distribution of its Lumia X1 printer via partnerships with additive manufacturing solutions distributors and resellers. Notably, this is the company’s second partnership since it <a href="https:<br>
//sp-edge.com/updates/32848"> partnered with Nota3D </a> in August.</p>

Axtra3D partners with Ridix for 3D printer distribution in Italy

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 <p>Aignostics, an AI-driven company that specializes in pathology data analysis, has recently raised $34 million in a Series B funding round. The round was headed by ATHOS and saw contribution from organizations like Mayo Clinic, HTGF, Wellington Partners, Boehringer Ingelheim Venture Fund, CARMA Fund, and VC Fonds Technologie. This investment brings the company's total funding to over $55 million.</p>
 
 <p>This new influx of capital will support Aignostics in expanding its offerings for target identification, translational research, and companion diagnostics (CDx). It will also fund strategic activities such as the roll-out of plug-and-play products for several indications, penetration into the US market and collaboration with Mayo Clinic to create pathology foundation models.</p>

 <p>Aignostics employs AI to deal with complex multi-modal pathology data. The technology platform of the company uses tissue samples and related metadata to provide insights for pharmaceutical research and diagnostics. It accelerates the pace of preclinical and translational research by utilizing different tissue staining technologies such as hematoxylin-eosin, immunohistochemistry, and multiplex immunofluorescence.</p>
 
</div>

Aignostics raises USD 34 million in Series B funding to create new biopharmaceutical products

<div>
 
 <p>Monte Rosa Therapeutics and Novartis have embarked on a USD 150 million strategic partnership to further the development and commercialization of VAV1 molecular glue degrader medicines, such as MRT-6160. Novartis is acquiring exclusive rights to develop, manufacture, and market MRT-6160 globally through this collaboration. </p>
 <p>In return, Monte Rosa will receive an initial payment and could qualify for up to USD 2.1 billion in various developmental, regulatory, and sales milestones. The partnership's aim is to expedite the development of MRT-6160 and broaden its clinical uses.</p>
 
</div>

Monte Rosa Therapeutics partners with Novartis to develop VAV1 molecular glue degrader medicines

<div>
 
 <p>Curis, through its agreement with a mix of existing and new investors, will sell around 2.4 million shares in a registered direct offering and will also issue unregistered warrants for the purchase of same number of shares in an associated private placement.</p>
 <p>The total projected proceeds from this funding round amount to approximately USD 12.1 million, prior to any deductions, and it is expected to be finalized by the 30th of October, on condition of meeting all required closing conditions.</p>
 <p>The capital acquired will be utilized to advance the company's research and development efforts, replenish its working capital, and fund other routine corporate expenditures.</p>
 
</div>

Curis secures USD 12.1 million in direct offering and private placement to fund R&D and general corporate purposes

<div>
 
 <p>Pathos, a company specialized in AI drug discovery, has raised a total of USD 62 million in its Series C funding. The round was led by New Enterprise Associates (NEA) and included contributions from Revolution Growth, existing investors Lightbank, and Builders VC. This funding round increases Pathos AI's post-money valuation to USD 600 million and its total capital to USD 102 million.</p>
 <p>Pathos will use these funds to expand its team of scientists and engineers. They will also help advance its AI-powered drug development platform, improving its pipeline of precision oncology therapeutics. The company also plans to conduct further clinical trials, with a projected start date in 2025.</p>
 
</div>

Pathos raises USD 62 million in Series C funding to expand research team and advance AI platform

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

AI Drug Discovery

<div>
 
 <p>Pathos, an AI drug discovery company, has raised a total of USD 62 million in a Series C funding round. The round was led by New Enterprise Associates (NEA), with contributions from Revolution Growth, Lightbank, and Builders VC. This funding takes Pathos AI's post-money valuation to USD 600 million, with total funds now reaching USD 102 million.</p>
 <p>The new financing will be used to grow Pathos' team of scientists and engineers, and to develop its AI drug development platform further. In addition, the company aims to boost its line of precision oncology treatments and hopes to commence subsequent clinical trials in 2025.</p>
 
</div>

All Updates

EU to investigate Microsoft's multi-billion investment in OpenAI

Gpower partners with Amorepacific to develop dual-function beauty tech devices

Brightwave raises USD 15 million in Series A funding to improve knowledge graph and expand operations

Matia raises USD 10.5 million in seed funding from Leaders Fund

GitHub Copilot integrates models from Anthropic, Google, and OpenAI

Axtra3D partners with Ridix for 3D printer distribution in Italy

Aignostics raises USD 34 million in Series B funding to create new biopharmaceutical products

Monte Rosa Therapeutics partners with Novartis to develop VAV1 molecular glue degrader medicines

Curis secures USD 12.1 million in direct offering and private placement to fund R&D and general corporate purposes

Pathos raises USD 62 million in Series C funding to expand research team and advance AI platform

Pathos raises USD 62 million in Series C funding to expand research team and advance AI platform

Foundation Models

EU to investigate Microsoft's multi-billion investment in OpenAI

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