<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Colombia-based Addi, a BNPL service provider, has raised USD 86 million in funding. This comprises USD 36 million in equity funding from Union Square Ventures, Andreessen Horowitz, and GIC Private Ltd. and USD 50 million in debt funding from Goldman Sachs Group. Addi's total funding now stands close to USD 462 million, with nearly a 50% estimated drop in valuation from its 
        <a href="https://sp-edge.com/updates/7447">
          USD 700 million valuation
        </a>
         in 2021.
      </p>
    </li>
    <li>
      <p>
        After shelving plans for Brazil and Mexico, the company plans to use the funds to support expansion within the Colombian market.
      </p>
    </li>
    <li>
      <p>
        Addi reported over 60% growth in its client base to over 2 million users in 2023 and over 13x growth in merchant partners to 13,500 in 2023, from 1,000 in 2021.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Despite the drop in valuation nearly two years after Addi raised 
        <a href="https://sp-edge.com/updates/7447">
          USD 205 million
        </a>
         in combined debt and equity funding in December 2021, the company has reported significant growth in its client base and merchant partners. Addi intends to maintain its growth momentum by focusing on growing in its home market.&nbsp;&nbsp;&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.bloomberg.com/news/articles/2024-03-19/colombia-fintech-taps-goldman-and-singapore-fund-for-new-capital">
      Bloomberg
    </a>
  </p>
  <p>
    <a href="https://contxto.com/en/colombia/colombian-fintech-addi-secures-86m-in-funding-round-led-by-goldman-sachs-and-singapores-gic/">
      Contxto
    </a>
  </p>
  <p>
  </p>
</div>


Buy Now, Pay Later

ANALYST_QUICK_TAKE

<div>
 
 <p>Colombia's Addi, a Buy Now, Pay Later (BNPL) service provider, has recently secured a total funding of USD 86 million. The recent funding round included USD 36 million in equity funding from investors like Union Square Ventures, Andreessen Horowitz, and GIC Private Ltd. They also received USD 50 million in debt funding from the Goldman Sachs Group. With this recent funding, Addi's total funding to date has reached nearly USD 462 million, despite experiencing an estimated 50% drop in valuation from its <a href="https://sp-edge.com/updates/7447"> USD 700 million valuation </a> recorded in 2021.</p>
 <p>The company has now decided to put on hold its original plans to expand into Brazil and Mexico. Instead, they aim to utilize the recently secured funds to further support and enhance their expansion within their domestic market in Colombia.</p>
 <p>Despite these changes, Addi reported impressive growth statistics over the years. They reported over 60% growth in its user base, reaching over 2 million users in 2023. On the other hand, they also witnessed more than 13 times growth in terms of merchant partners, ballooning from an initial 1,000 in 2021 to a whopping 13,500 in 2023.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Despite the drop in valuation nearly two years after Addi raised <a href="https:<br>
//sp-edge.com/updates/7447"> USD 205 million </a> in combined debt and equity funding in December 2021, the company has reported significant growth in its client base and merchant partners. Addi intends to maintain its growth momentum by focusing on growing in its home market.&nbsp;&nbsp;&nbsp;</p>

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

Using data and automation to achieve 24/7 production.

Smart Factory

<div>
 <p>Haber, an industrial AI automation startup, has raised USD 44 million in its Series C funding round. The funding was led by Creaegis, BEENEXT, and Accel, with USD 38 million received in equity and USD 6 million in debt. The funds will be used to expand Haber's operations in North America and establish a branch office in Chicago that includes an advanced R&amp;D lab. The startup also intends to hire more engineers, data scientists, industry specialists, and sales professionals.</p>
 <p>Not only does Haber plan expansion geographically, but it also wishes to diversify its offerings by moving into metals processing and the food and beverage industries. Haber, based in India, provides a variety of AI-driven automation solutions using their proprietary platform, eLIXA. This platform allows for real-time data collection from industrial facility sensors and smart devices, replacing traditional manual processes with robotic ones. This automation enables real-time process monitoring, which can improve manufacturing processes and increase efficiency.</p>
 </div>

Haber raises USD 44 million in Series C funding from Creaegis

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

Additive Manufacturing

<div>
 <p>AML3D, an Australian industrial metal 3D printing firm, has set up its US headquarters and manufacturing hub in Stow, Ohio. The hub is fitted with an ARCEMY system capable of producing industrial-scale parts through metal 3D printing. Plans for installation of a second system are set for early 2025.</p>
 <p>The facility is running and is currently managing a project worth USD 1.46 million from the Tennessee Valley Authority. AML3D intends to infuse an added USD 7.7 million to boost the facility's capacity with potentially two more ARCEMY systems. This increase in capacity is geared towards satisfying heightened demands from the US Department of Defense, who are spending more on advanced manufacturing solutions for the US Navy's Submarine Industrial Base.</p>
 <p>The expansion is part of AML3D's US growth strategy, which has so far secured contracts worth over USD 10.3 million since the beginning of 2023. The US manufacturing hub will allow AML3D to partake in International Traffic in Arms Regulations and other defense contracts controlled by the US government.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> AML3D has steadily been expanding its presence in the US since it first revealed its plans to build a new facility in Ohio during its USD 3.9 million fundraise in April. It raised a further AUD 30 million (USD 19.5 million) last month, which it earmarked to double the manufacturing capacity at this Ohio Technology Centre, which was not yet operational. Alongside these investments, the company has expanded its presence by securing US defense contracts with the <a href="https:<br>
//sp-edge.com/updates/33795"> US Navy </a> and Boeing.</p>

AML3D opens US technology center in Ohio to support defense and industrial customers

INCUMBENTS_PRESENT

<div>
 <p>3D Systems, a company involved in providing 3D printing solutions, has entered into a definitive agreement to sell its Geomagic software portfolio. This portfolio will be sold to the Manufacturing Intelligence Division of Hexagon for a price of 123 million USD. The deal is scheduled to close in the first half of 2025.</p>
 <p>The Geomagic portfolio entails various software tools. These consist of Design X, Control X, Freeform, Wrap, and Geomagic for SolidWorks. With these tools, users can design digital models from physical objects, create from scratch, modify existing models, and carry out quality control inspections. All of these features make the software tools suitable for manufacturing purposes.</p>
 <p>Once this divestiture concludes, 3D Systems will turn its focus to its core software platforms. This includes platforms such as 3D Sprint, 3DXpert, and Oqton Industrial Manufacturing OS. The aim of this is to accelerate strategic software development and enhance AM capabilities. The company also hopes to leverage AI and machine learning capabilities to aid high-volume production environments and critical industrial applications.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> Hexagon, which mainly operates in the manufacturing technology space, has been steadily expanding its portfolio of 3D-printing software products over the past year. This news comes less than a month after the company <a href="https:<br>
//sp-edge.com/updates/36399"> introduced Advanced Compensation technology </a> for metal 3D printing, which combines process simulation with geometry compensation to ensure large or complex metal parts distort into their intended shape during printing. It also marks the company's second acquisition in the space after CADS Additive, which it <a href="https:<br>
//hexagon.com/company/newsroom/press-releases/2023/hexagon-enhances-its-additive-manufacturing-solutions-with-the-acquisition-of-cads-additive"> acquired in June 2023 </a> . It leveraged the acquisition to integrate the latter's build preparation and support structure creation capabilities with its Simufact Additive process simulation software.</p>

3D Systems sells Geomagic software portfolio to Hexagon for USD 123 million

Metaverse Platforms

PROMINENT_CATEGORY

<div>
 <p>Meta has released a new AI model called Meta Motivo. This model aims to regulate human-like movements of digital agents. According to Meta, Meta Motivo will address common problems related to the body movements of digital avatars and will provide more realistic, human-like motion.</p>
</div>

Meta launches AI model to enhance Metaverse experiences

A new industry proving that digital connectivity and mental health can co-exist.

Digital Wellness

<div>
 
 <p>Digital health company Noom has introduced oral medications for weight loss via its Noom Med program, starting with Metformin at a cost of USD 29 for the first month and then USD 89 per month in a three-month recurring subscription.</p>
 <p>Features of the program include one-on-one communication with clinicians, prescription services, asynchronous telehealth capabilities, care coordinators, patient community access, medication management, and educational information. Metformin is offered in a 500 mg daily tablet format and is delivered within a week after prescription approval.</p>
 <p>Noom's new initiative offers an option for patients who have an aversion to needles or have a lower body mass index than needed for GLP-1s. Noom suggests that combining medication with behavioral changes can boost early success indicators and support patients in maintaining long-term lifestyle changes. Noom is planning to make this service available to eligible Noom Weight members in Q1 2025.</p>
 
</div>

Noom launches oral weight loss medication program

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

AI Drug Discovery

<div>
 <p>Conduit Pharmaceuticals, a clinical-stage life sciences company, has entered into partnership with SARBORG, a company specialized in AI and cybernetics. This partnership aims to harness AI-powered technology in the processes of drug repurposing, discovery, and clinical trial monitoring.</p>
 <p>As a result of this collaboration, Conduit is set to gain access to SARBORG's predictive models and data dashboards. These tools will be used to evaluate potential drug candidates and to oversee clinical trials using real-time data. Conduit will have perpetual, non-exclusive, royalty-free rights to use any platform produced by SARBORG. This union is aimed at minimizing the margin of human error, reducing overall costs, and speeding up the development timelines.</p>
</div>

Conduit Pharmaceuticals partners with SARBORG to integrate AI and cybernetics in drug development

<div>
 <p>Absci, a GenAI drug development company, has chosen ABS-201 as a potential treatment for androgenic alopecia (hair loss). ABS-201 is an anti-PRLR antibody drug candidate, aiming to help the approximately 80 million individuals in the US affected by hair loss. The phase I clinical trials for ABS-201 are planned to start in the first half of 2026.</p>
 <p>Some of the key characteristics of ABS-201 include high affinity and potency, a good safety record, an extended half-life which enables infrequent dosing, and advantageous developability traits. Preclinical models have shown that ABS-201 can outperform minoxidil, the current standard hair loss treatment, in terms of hair regrowth. Absci believes ABS-201 could be a safer and more convenient alternative to current hair loss treatments.</p>
</div>

Absci selects drug candidate ABS-201 for hair loss treatment

<div>
 <p>Evaxion Biotech, a clinical-stage biotech company developing AI-powered vaccines, has unveiled a precision cancer vaccine concept using its AI-Immunology platform. The vaccine aims at non-traditional ERV tumor antigens common across patients with the intention to choose a lead vaccine candidate by the second half of 2025.</p>
 <p>The new vaccine concept detects and selects vaccine targets from ERVs (endogenous retroviruses) in cancer cells. The platform picks ERV segments known as "hotspots" aligning with different immune system profiles, enabling the creation of precision cancer vaccines for various specific cancer categories.</p>
 <p>The novel vaccine concept has displayed encouraging results in preclinical proof-of-concept studies. This innovative approach could potentially extend the use of cancer vaccines, including for patients who do not respond to traditional immunotherapies.</p>
 
</div>

Evaxion develops AI-powered precision cancer vaccine concept

<div>
 <p>Enable Medicine, an AI-based data analysis company specializing in biological research and drug discovery, has been purchased by General Inception, a worldwide biotech startup accelerator. The purchase price was undisclosed. This acquisition will allow General Inception to directly utilize Enable Medicine's biological data platform. In exchange, Enable Medicine will be able to leverage General Inception's expertise in drug development and its extensive biotech network.</p>
 <p>This acquisition follows a successful partnership formed in 2023, where they jointly established Ennovate Pharma to develop precision treatments for autoimmune and inflammatory conditions.</p>
</div>

General Inception acquires Enable Medicine for undisclosed sum to boost AI-driven drug discovery

<div>
 <p>Dewpoint Therapeutics, a biotechnology organization focused on the study of biomolecular condensate biology, has embarked on a collaboration with ConcertAI, a company known for its contributions to the realm of AI and provision of feasible data research solutions. The objective of this collaboration is to accelerate the progression of therapeutic solutions targeting cancer.</p>
 <p>The preliminary phase of this collaboration is aimed at assisting in the development and advancement of DPTX3186, which is a drug candidate Dewpoint is currently nurturing. This drug specifically targets beta catenin in different types of tumors. The collaboration merges the AI and ML capabilities of Dewpoint's discovery platform with ConcertAI's clinico-genomic data sets and their CARAai platform. The aim of this merger is to prefect patient stratification.</p>
 <p>The subsequent stages of this partnership will aim to support additional drug candidates that are part of Dewpoint's oncology pipeline. This includes a beta catenin c-mod, the roll-out of which has been planned for 2025, and an MYC targeting c-mod set to be launched in 2026.</p>
</div>

All Updates

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

Haber raises USD 44 million in Series C funding from Creaegis

AML3D opens US technology center in Ohio to support defense and industrial customers

3D Systems sells Geomagic software portfolio to Hexagon for USD 123 million

Meta launches AI model to enhance Metaverse experiences

Noom launches oral weight loss medication program

Conduit Pharmaceuticals partners with SARBORG to integrate AI and cybernetics in drug development

Absci selects drug candidate ABS-201 for hair loss treatment

Evaxion develops AI-powered precision cancer vaccine concept

General Inception acquires Enable Medicine for undisclosed sum to boost AI-driven drug discovery

Dewpoint Therapeutics partners with ConcertAI to advance oncology drug

Buy Now, Pay Later

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

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