<div>
 <ul>
 <li>
 
 Avatar Medical, a MedTech company that converts medical images into patient-specific avatars, has raised EUR 5 million (~USD 5.4 million) in a seed funding round led by GO Capital, with participation from Acorn Pacific Ventures, Plug and Play, Rives Croissance, Cenitz, and a group of 15 surgeons and radiologists.
 
 </li>
 <li>
 
 The capital raised is intended for Avatar Medical's venture into commercialization, specifically in the US and European markets. It will also aid in accelerating the development of the company's product, AvatarCloud.
 
 </li>
 <li>
 
 Analyst QuickTake:
 The round follows Avatar Medical raising EUR 2.5 million (~USD 2.7 million) in February 2023 via a European Innovation Council (EIC) Accelerator grant. The company also received FDA clearance for its VR surgical planning solution in 
 <a href="https://sp-edge.com/updates/19225">
 June 2023
 </a>
 , aiding in its steps toward commercialization.&nbsp;
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://www.eu-startups.com/2024/02/paris-based-avatar-medical-bags-e5-million-to-democratize-access-to-3d-medical-images/">
 EU Startups
 </a>
 
 
 <a href="https://startuprise.co.uk/avatar-medical-secures-e5-m-funding/">
 Startup Rise EU
 </a>
 
 
 
</div>

Extended Reality

ANALYST_QUICK_TAKE

<div>
 Avatar Medical, a MedTech company that converts medical images into patient-specific avatars, has successfully raised EUR 5 million (approximately USD 5.4 million) in a seed funding round. The round was led by GO Capital and saw participation from Acorn Pacific Ventures, Plug and Play, Rives Croissance, Cenitz, along with a group of 15 surgeons and radiologists.
 The funds raised will be used to assist Avatar Medical in their venture into commercialisation, particularly in the US and European markets. Additionally, the capital will be channelised into accelerating the development of the company's product, AvatarCloud.
 
</div> Analyst QuickTake: 
 The round follows Avatar Medical raising EUR 2.5 million (~USD 2.7 million) in February 2023 via a European Innovation Council (EIC) Accelerator grant. The company also received FDA clearance for its VR surgical planning solution in <a href="https: 
//sp-edge.com/updates/19225"> June 2023 </a> , aiding in its steps toward commercialization.&nbsp;

XR MedTech firm Avatar Medical raises EUR 5 million in seed funding to commercialize product and bolster development efforts

Empowering sustainable food innovation through food engineering tech

Alternative Ingredients

<div>
 MeliBio, a bee-free honey manufacturer, has received a substantial investment from Future Food Fund, the venture capital division of Japanese food distributor Oisix. This funding is intended to aid MeliBio in its goal of revolutionizing the honey market.
 The firm's main product, Mellody, is quickly growing in popularity across America, thanks to partnerships with companies like Palmetto Superfoods, Joyride Pizza, and Moto Pizza. In addition, Mellody's distribution has been increased across the country through partnerships with several distributors including KeHE, UNFI, Sysco-owned Greco and Sons, and ACE Natural. 
</div>

MeliBio receives strategic investment from Future Food Fund

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

Plant-based Meat

PROMINENT_CATEGORY

<div>
 Catchfree, a Swiss food tech startup from the Swiss Technical Institute of Technology, has created a plant-based shrimp substitute using microalgae and plant proteins. Currently, this product is available at Zurich's Taj Palace restaurant and through Uber Eats.
 Through a proprietary process, Catchfree prepares this product by combining non-pigmented microalgae with other plant proteins and uses paprika for coloring. The use of microalgae provides protein and fatty acids without disrupting the taste, color, and eliminates the need for artificial additives.
 The startup claims that this innovative product mirrors not just the taste and texture of traditional shrimp but also its nutritional value. This development addresses the environmental issues associated with overfishing and aquaculture. Catchfree also has plans to expand its product range with alternatives to other types of seafood using its unique technology.
 
</div> Analyst QuickTake: 
 Alternative seafood companies are turning to microalgae as a key ingredient due to its rich profile of omega-3 fatty acids, proteins, and essential nutrients that mimic seafood's nutritional benefits. It also delivers natural seafood flavors, making it ideal for replicating fish and shellfish products. Some notable companies in this space include <a href="https: 
//sp-edge.com/companies/2027785"> Olala </a> , <a href="https: 
//sp-edge.com/companies/1623092"> Mimic Seafood </a> , and <a href="https: 
//sp-edge.com/companies/1825729"> Koralo </a> .

Catchfree launches microalgae-based shrimp alternative

<div>
 Chicago's AQUA Cultured Foods, a company specializing in alternate seafood, has introduced its fermented raw tuna substitute at Michelin Bib Gourmand restaurant, Mama Delia. This product is created through a process of traditional and biomass fermentation using different types of microbes, including fungal strains.
 Featuring coloring derived from beets, the product does not necessitate any extra culinary training to prepare. Stored in refrigerated conditions, it has a shelf life of up to six weeks. 
 AQUA Cultured Foods asserts that its product is entirely vegan and does not contain any allergens. It is safe for consumption during pregnancy and free from elements such as microplastics, mercury, cholesterol, and saturated fats. The product furnishes nutrients such as fiber, protein, micronutrients, and omega-3 fatty acids. It brings high-quality, sushi-grade satisfaction while also assuring a constant supply, standardized portions, and less wastage.
</div> Analyst QuickTake: 
 In <a href="https: 
//sp-edge.com/updates/9466"> April 2022 </a> , the company advanced its fermentation technology, doubling the biomass output of its plant-based seafood, which helped accelerate the production and commercialization process. In <a href="https: 
//sp-edge.com/updates/32091"> July 2024 </a> , the company received Generally Recognized as Safe (GRAS) status for its seafood products, allowing it to sell them in the US for the foodservice sector.

AQUA Cultured Foods introduces fermentation-based raw tuna alternative

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

INCUMBENTS_PRESENT

<div>
 The warehouse automation technology company, SDI Element Logic, has undergone a rebranding and will now be known as Element Logic.
 Element Logic has stated that the rebranding effort is intended to consolidate their 90 years of expertise under one brand. This will give the company the ability to offer clients global reach and support, along with local expertise. The move is also aimed at improving communication regarding the company's mission and standing in the warehouse automation sector.
 In 2023, Element Logic recorded a revenue of USD 510 million.
</div>

SDI Element Logic rebrands as Element Logic

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 Wayve, a UK-based tech company specializing in autonomous vehicles, has broadened its operations to the US. They've achieved this by establishing a new office in Silicon Valley and initiating a driver assistance testing program in San Francisco and the Bay Area, California. This marks the first time Wayve has done an on-road trial outside the UK.
 The US testing program will mainly concentrate on Advanced Driver Assistance Systems (ADAS) within both urban and highway environments. The intention of this program is to expand the scope of Wayve’s AI Driver product and to create a scalable driving software platform that can adapt to a variety of global conditions.
 The new Wayve office is located in Sunnyvale, where the team plans to concentrate on software development, hardware integration, and the handling of deployment operations.
</div> Analyst QuickTake: 
 This expansion underscores Wayve’s commitment to innovation and growth within the US market. Wayve's collaborations with partners such as <a href="https: 
//ukstories.microsoft.com/features/wayve-chooses-microsoft-azure-to-scale-ai-based-autonomous-driving-technology/"> Microsoft, </a> <a href="https: 
//wayve.ai/press/series-c/"> NVIDIA, </a> and <a href="https: 
//sp-edge.com/updates/33056"> Uber </a> are also crucial for accelerating the development of a global ecosystem for AI-driving technology. The company is backed by significant investment from these partners, aiming to replace traditional rule-based systems with an end-to-end AI system capable of operating any vehicle anywhere.

Wayve opens office and commences testing of automated driving features in US

<div>
 Qualcomm Technologies and Google are embarking on a multi-year strategic partnership to build a standardized platform for in-car systems. The collaboration will incorporate Qualcomm's Snapdragon Digital Chassis, Google's Android Automotive Operating System (AAOS), and Google Cloud, with a particular focus on utilizing GenAI.
 The aim is to develop engaging map experiences, intuitive voice assistants, and live software updates for vehicles. This approach simplifies the production process for automakers, who can then create AI-enhanced cockpit systems and provide customizable services for their customers. 
</div> Analyst QuickTake: 
 The automotive industry is among many to have witnessed an increasing discourse surrounding the possibilities of incorporating GenAI technologies. In fact, automakers and auto part manufacturers, including <a href="https: 
//sp-edge.com/updates/26722"> Peugeot, </a> <a href="https: 
//sp-edge.com/updates/21380"> General Motors, </a> <a href="https: 
//sp-edge.com/updates/19470"> Mercedes-Benz, </a> <a href="https: 
//sp-edge.com/updates/26351"> Volkswagen, </a> <a href="https: 
//sp-edge.com/updates/21512"> Continental, </a> and <a href="https: 
//sp-edge.com/updates/27058"> Bosch </a> , have collaborated with various GenAI tech providers to enhance their offerings with the technology, mostly to develop voice assistant technologies.

Qualcomm and Google partner to develop AI-driven automotive solutions

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 Meta's research division has unveiled a new tool called LayerSkip that aims to speed up large language models (LLMs). The solution features a distinctive training recipe coupled with self-speculative decoding to minimize LLMs' computational and memory needs.
 LayerSkip incorporates three primary elements: a training recipe implementing layer dropout and early exit loss, an inference method permitting early exits at premature layers, and self-speculative decoding for early detections and adjustments. The mechanism takes advantage of shared weights to bypass layers, ensuring both high-quality results and efficiency.
 Meta AI reports that LayerSkip has demonstrated significant speed enhancements across different Llama model sizes and functions. For instance, it has attained up to 2.16× acceleration on CNN/DM summarization, 1.82× on coding tasks, and 2.0× on the TOPv2 semantic parsing task.
</div> Analyst QuickTake: 
 The news complements Meta's previous <a href="https: 
//sp-edge.com/updates/31479"> announcement </a> to implement a multi-token approach for streamlining LLM development and deployment . The prediction models forecast multiple future words simultaneously, claiming better performance and shorter training periods.

Meta AI releases LayerSkip to accelerate inference in LLMs

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

Additive Manufacturing

<div>
 Freeform, a metal 3D printing solutions provider, has secured an undisclosed amount in funding from NVIDIA's NVentures and AE Ventures.
 The company intends to use this funding to increase its portfolio of printable materials and enhance production capabilities for defense, aerospace, energy, semiconductors, and automotive industries.
 
</div> Analyst QuickTake: 
 The metal additive manufacturing lending space has seen a large influx in investor interest within the last three months, with a number of startups raising funding. This includes <a href="https: 
//sp-edge.com/companies/511081"> Titomic </a> , <a href="https: 
//sp-edge.com/companies/1558694"> Fortius </a> , and <a href="https: 
//sp-edge.com/companies/910329"> Amaero </a> , which raised <a href="https: 
//sp-edge.com/updates/35052"> USD 20.6 million </a> , <a href="https: 
//sp-edge.com/updates/34568"> USD 2 million </a> , and <a href="https: 
//sp-edge.com/updates/33656"> USD 16.9 million </a> , respectively. Freeform differentiates itself from its competition by offering a proprietary technology stack that combines advanced sensing, real-time controls, and data-driven machine learning, which enables users to produce digitally verified, faultless parts.

Freeform secures funding from NVIDIA's NVentures

Using data and automation to achieve 24/7 production.

Smart Factory

<div>
 
 Flexxbotics, a firm that provides robotic control solutions, has enhanced its robotic machine tending with compatibility for LMI Technologies' 3D scanning and inspection products. This new integration allows businesses to implement robot-based manufacturing and maintain six sigma consistency in automated operations.
 The solution by Flexxbotics uses its own FlexxCORE technology to achieve a secure connection and communication between robotics and the equipment from LMI Technologies. It is compatible with the full range of Gocator sensors from LMI Technologies, such as 3D point profilers, 3D line profilers, and 3D snapshot sensors, among others.
 According to Flexxbotics, this compatibility enables the making of real-time adjustments to CNC machine programs using automated inspection results, thus facilitating autonomous process control.
 
</div>

Flexxbotics announces compatibility with LMI Technologies for quality inspection

Data Infrastructure & Analytics

<div>

 Oxla, a data warehousing solutions company, has secured USD 11 million in seed funding. The funding round was lead by TQ Ventures, and included contributions from Lead Ventures, Warsaw Equity Group, and 4Growth VC.
 The company intends to utilize the funds for boosting the commercialization and development of its products. Additionally, the funding will assist in expanding the company's market share and catering to the unmet demand in the data warehousing sector.
 Operating from Poland, Oxla specializes in developing an analytical database designed for processing substantial volumes of data. The firm asserts that its database technology boasts analytical query execution speeds that are 10x faster, and costs that can be up to 85% lower than those of its competitors. Oxla primarily provides services to industries pertaining to the Internet of Things (IoT), industrial applications, ecommerce, and cybersecurity.
 
</div>

All Updates

XR MedTech firm Avatar Medical raises EUR 5 million in seed funding to commercialize product and bolster development efforts

MeliBio receives strategic investment from Future Food Fund

Catchfree launches microalgae-based shrimp alternative

AQUA Cultured Foods introduces fermentation-based raw tuna alternative

SDI Element Logic rebrands as Element Logic

Wayve opens office and commences testing of automated driving features in US

Qualcomm and Google partner to develop AI-driven automotive solutions

Meta AI releases LayerSkip to accelerate inference in LLMs

Freeform secures funding from NVIDIA's NVentures

Flexxbotics announces compatibility with LMI Technologies for quality inspection

Oxla raises USD 11 million in seed funding to drive commercialization

Extended Reality

XR MedTech firm Avatar Medical raises EUR 5 million in seed funding to commercialize product and bolster development efforts

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