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        Sproutt, an Israeli-based digital life insurer, has filed for insolvency in the District Court in Tel Aviv.
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        This announcement follows the company&rsquo;s inability to settle debts to an Israeli bank and other creditors.
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        Prior to the announcement, Sproutt pivoted to a B2B model, providing a life insurance quoting platform for agents. In March 2023, it acquired The Reder Agency, an organization specializing in life insurance marketing. The company had also implemented several rounds of layoffs. 
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    <a href="https://www.coverager.com/sproutt-declares-insolvency/">
      Coverager
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InsurTech: Personal Lines

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 <p>An Israeli-based digital life insurer, Sproutt, has filed for insolvency in the District Court in Tel Aviv.</p>
 <p>The company's insolvency filing follows its failure to pay its debts to an Israeli bank and various creditors.</p>
 <p>Before making the announcement, Sproutt had shifted its focus to a B2B model, offering a life insurance quotation platform for agents. In March 2023, the firm added The Reder Agency, an entity renowned for life insurance marketing, to its portfolio. Amid these changes, Sproutt had also carried out several redundancy waves.</p>
 
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Life insurance startup Sproutt declares insolvency

Travel Tech

ANALYST_QUICK_TAKE

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 <p>Creador, a Southeast Asia-based private equity firm, has purchased MG Group, a B2B hospitality marketplace. MG Group boats a network of 350,000 accommodation suppliers and 8,000 buyers.</p>
 <p>MG Group aims to use this acquisition to grow globally, as well as fortify its platform. It is reported that the company will make use of Creador's resources and know-how to augment its value proposition to its partners.</p>
 <p>MG Group provides affordable connectivity thanks to its B2B hotel distribution technology, MG Jarvis.</p>
</div> <p><b>Analyst QuickTake</b> :<br>
 Creador's <a href="https:<br>
//skift.com/2025/01/02/creador-acquires-indonesias-mg-group-targets-big-moves-in-europe-middle-east/#:<br>
~:<br>
text=North%20Asia%2C%20the%20Middle%20East%2C%20and%20Europe%2C%20aiming%20to%20replicate%20MG%E2%80%99s%20Southeast%20Asian%20success%20on%20a%20global%20scale."> acquisition of MG Group </a> gives it new opportunities to operate in travel markets across North Asia, the Middle East, and Europe, adding to its hotel business.</p>

Creador acquires hospitality marketplace MG Group for undisclosed sum to expand global operations

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

PROMINENT_CATEGORY

<div>
 
 <p>LeddarTech, a company specialising in AI-based automotive software, recently revealed plans to unveil its LeddarVision Surround-View (LVS-2+) at CES 2025. The LVS-2+ is a thorough L2/L2+ city/highway software stack designed for advanced driver assistance systems (ADAS).</p>
 <p>Supported by Texas Instrument's TDA4VH-Q1 processor, the LVS-2+ platform can reportedly maintain speeds of up to 160 km/h and provides a 200 million range. This innovative solution will be showcased at CES 2025 using a variety of interactive demonstrations, such as a 360-degree VR experience and live demonstrations on the road.</p>
 <p>LeddarTech aims to achieve compliance with the upcoming five-star NCAP 2025/GSR 2022 standards. To help improve driver safety under different road and weather conditions, the company offers vehicle detection, early warning systems, and extended coverage.</p>
 
</div>

LeddarTech unveils new AI-driven ADAS platform at CES 2025

INCUMBENTS_PRESENT

<div>
 <p>Ansys, a company providing simulation software, has formed a partnership with Cognata, a firm specializing in autonomous driving technology. The collaboration involves the integration of Ansys' “AVxcelerate” Sensors into Cognata's Automated Driving Perception Hub (ADPH), a platform hosted on Microsoft Azure.</p>
 <p>Through this partnership, Ansys' physics-based radar models are incorporated into the ADPH. This enables Original Equipment Manufacturers (OEMs) and sensor manufacturers to test and certify sensors against established industry standards. The ADPH platform comprises of virtual sensor models such as thermal cameras, LiDAR, and RGB cameras. This feature is enhanced through Ansys' radar simulation capabilities to replicate electromagnetic wave propagation, thereby increasing the accuracy of autonomous vehicle testing.</p>
</div>

Ansys and Cognata partner to enable ADAS/AV sensor testing on Microsoft Azure

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>
 <p>South Korea's quantum technology company, Norma, has teamed up with the US's Maybell Quantum to bring integrated quantum computing systems to South Korea. Norma will integrate Maybell Quantum's cryogenic cooling systems into its Quantum Factory system and Maybell Quantum will offer technical support. They will also work together on marketing, technical demonstration, and customer acquisition.</p>
 <p>Norma is known for its expertise in quantum security and computing solutions. Its product line includes the "Q Care Connect," a VPN service that uses quantum-resistant encryption and Q Platform for developing quantum applications. The company is also gearing up to launch Qrion, an industrial quantum computer designed to enhance computational performance in various industry sectors.</p>
</div>

Norma partners with Maybell Quantum to develop quantum computing systems in South Korea

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

AI Drug Discovery

<div>
 <p>AI-based clinical-stage drug development firm, Insilico Medicine, has selected ISM1745 as a preclinical drug candidate for the treatment of MTAP-deleted cancer types. The development of the drug candidate was facilitated using the company's AI-infused generative chemistry engine, Chemistry42.</p>
 <p>The drug, ISM1745, is a MTA cooperative PRMT5 inhibitor that has a novel base structure driven by AI. It demonstrated strong efficacy at low dosages across various animal models. Its major advantages include high potency as a standalone treatment, possible use in combination with different cancer treatments like chemotherapy, targeted agents, and immunotherapies, excellent selectivity over MTAP WT cell lines, minimal risk of drug-drug interaction, and favorable drug metabolism and pharmacokinetics profiles.</p>
 <p>ISM1745 is the fifth drug candidate nominated by Insilico in 2024, taking its total to 22 nominations since 2021. Insilico seeks to expedite the drug discovery process using its Pharma.AI platform, which could potentially result in facilitating longer and healthier lives for people by speeding up drug development.</p>
</div>

Insilico Medicine nominates new preclinical candidate for cancer treatment

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 <p>Atavistik Bio has entered a collaboration with Pfizer to explore new precision allosteric therapeutics through the former's AMPS platform. The partnership involves Atavistik Bio leveraging its AMPS platform to identify new allosteric binders against two Pfizer-selected undisclosed targets. After the study phase, Pfizer will have the option to license the programs.</p> 
 <p>The partnership intends to expand Atavistik's oncology indications reach while progressing its internal pipeline of precision oncology small molecule therapies. Atavistik Bio is a biotech firm specializing in precision allosteric therapeutics discovery and development, inspired by the body's natural regulatory mechanisms. The company uses its unique AMPS platform to identify novel allosteric binding protein sites by combining computational and experimental techniques.</p>
 <p>This method allows quick design of small-molecule therapeutics targeting valuable targets previously deemed unachievable. Atavistik Bio primarily focuses on precision oncology and rare diseases, pursuing transformative treatment options for patients with unmet medical necessities.</p>
</div>

Atavistik Bio partners with Pfizer to discover precision allosteric therapeutics

<div>
 <p>Neumora Therapeutics, a clinical-stage biopharmaceutical company, revealed that its major depressive disorder (MDD) drug, navacaprant, did not achieve its primary objective in the Phase III KOASTAL-1 trial.</p>
 <p>Navacaprant is a specific kappa opioid receptor antagonist that modulates dopamine and reward processing pathways. The trial involved 383 adult patients with MDD, with the objective being observing changes in the Montgomery-Åsberg Depression Rating Scale total score at the end of week six and the Snaith-Hamilton Pleasure Scale.</p>
 <p>Despite failing to show a significant statistical improvement over the placebo in the general study population, the drug showed a promising efficacy signal in female participants with a -14.0 change from the baseline compared to -11.4 for the placebo. Generally well-tolerated, with no severe adverse events reported, the most common side effects included headaches (6.8%) and diarrhea (5.2%).</p>
</div>

Neumora's depression drug navacaprant fails first Phase III trial

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

<div>

 <p>Plastics and recycling firm, Revolution Sustainable Solutions LLC, which is based in Little Rock, has acquired Island Plastics LLC. Island Plastics is a film recycling plant and a producer of PCR linear low-density and low-density polyethylene film grade resin. The acquisition cost remains undisclosed.</p>
 <p>Island Plastics, as per Revolution's statement, specializes in the production of 100% post-consumer recycled (PCR) linear low-density and low-density polyethylene film grade resin. The company operates the largest film recycling facility in Michigan.</p>
 <p>This acquisition is in line with Revolution's aim to extend its recycling capabilities within the sphere of clear food-grade PCR flexible food packaging. Revolution plans to leverage its FDA Letter of No Objection to introduce clear food-grade PCR in Island Plastics' product offerings. In addition, Revolution articulates that this business deal will escalate its capacity to deliver sustainable products across various sectors such as agriculture, facilities maintenance, and consumer goods markets. This strategic move aims to reduce the dependence on virgin materials.</p>

</div>

Revolution Sustainable Solutions acquires Island Plastics for undisclosed sum

Data Infrastructure & Analytics

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 <p>With the leadership of Fintop Capital and Jam Fintop BankTech, Infinant, a provider of banking technology, has secured USD 15 million in a Series A funding round. Other contributors included Bankers Helping Bankers, Woodforest Financial Group, and Raido Capital Partners. The total funding of the company is now raised to USD 20 million.</p>
 <p>The company plans to use the freshly acquired funds to broaden the array of its product offerings. Their focus includes Interlace Console, Payments Hub for ACH services, Wire and FedNow services, Settlement Ops, and also Card Platform that will cater to card issuance and processing with Visa DPS.</p>
 <p>Infinant, founded in 2020, has developed a cloud-based platform, termed as Interlace. This platform is instrumental in enabling banks to launch digital banking solutions and increase their scale. The platform operates above legacy core systems, permitting banks to handle operating accounts and end-user accounts from a single platform. Moreover, it seamlessly integrates with existing core banking systems, empowering banks to maintain control of operations, compliance, and their ledger without having to replace the core.</p>
 
</div>

Infinant raises USD 15 million in Series A funding to expand product offerings

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

<div>
 <p>Solayer, a protocol built on Solana, has introduced its governance token LAYER and set up the Solayer Foundation. The LAYER token operates as an SPL-2020 token that empowers holders to participate in governance decisions. Its distribution will be carried out in three stages, rounding up with Solayer Season 1. Eligible members will receive notifications via the Solayer dashboard to agree to the terms and conditions before getting their tokens.</p>
 <p>Moreover, the Solayer Foundation, an independent non-profit, has been established aiming to promote protocols that enhance scaling of the Solana virtual machine (SVM). The foundation will help in propelling the protocol's development, which has so far garnered USD 12 million in seed funding from notable investors such as Polychain Capital, Binance Labs, and Solana co-founder Anatoly Yakovenko.</p> 
</div>

All updates

Life insurance startup Sproutt declares insolvency

Creador acquires hospitality marketplace MG Group for undisclosed sum to expand global operations

LeddarTech unveils new AI-driven ADAS platform at CES 2025

Ansys and Cognata partner to enable ADAS/AV sensor testing on Microsoft Azure

Norma partners with Maybell Quantum to develop quantum computing systems in South Korea

Insilico Medicine nominates new preclinical candidate for cancer treatment

Atavistik Bio partners with Pfizer to discover precision allosteric therapeutics

Neumora's depression drug navacaprant fails first Phase III trial

Revolution Sustainable Solutions acquires Island Plastics for undisclosed sum

Infinant raises USD 15 million in Series A funding to expand product offerings

Solayer launches LAYER governance token and non-profit foundation

InsurTech: Personal Lines

Life insurance startup Sproutt declares insolvency

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