<div>
 <ul>
 <li>
 
 Nepra Foods, a Colorado-based plant-based food and ingredient company, announced a USD 550,000 investment to expand its strategic partnership with a major Indian ingredients manufacturer to expand capacity. This investment will enable Nepra to expand the research and production of its proprietary plant-based egg white replacement powder.
 
 </li>
 </ul>
 <ul>
 <li>
 
 Nepra's investment in capacity development is projected to boost its egg white replacement powder inventory to 35MT in 2022 and expand capacity by 154% in early 2023. The expanded manufacturing capacity in India is intended to help Nepra's fast-growing wholesale ingredients business generate significant top-line income.
 
 </li>
 </ul>
 <ul>
 <li>
 
 Founded in 2016, Nepra's proprietary hemp-based proteins are used in its plant-based meats, dairy alternatives, and bake mixes as well as being sold as B2B ingredients. Nepra is targeting alternative sweeteners, alternative chocolates, and fermented foods for future development.
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://neprafoods.com/news-releases/nepra-foods-announces-investment-in-strategic-partnership-in-india-to-produce-its-proprietary-plant-based-allergen-free-egg-white-replacement-powder/">
 Press Release
 </a>
 
 
 <a href="https://denvergazette.com/ap/business/nepra-foods-announces-investment-in-strategic-partnership-in-india-to-produce-its-proprietary-plant-based/article_0735d5b0-f374-591e-b7ec-c6ad88431833.html">
 Denver Gazette
 </a>
 
</div>

Plant-based Dairy & Egg

Nepra Foods expands partnership with major Indian manufacturer

Technologies bringing about a new reality

Extended Reality

<div>
 AR startup Trace has raised USD 2 million in a pre-seed funding round. The contributors for this funding round include Rev1 Ventures and Impellent Ventures with additional participation from Everywhere Ventures, Ohio Innovation Fund, and an assortment of other investors.
 This funding has been specifically earmarked for the development of the company's app, which is currently in its private beta stage.
 Trace was established by former senior employees of Magic Leap. The startup's primary objective is to streamline AR content creation. This is achieved by offering location-specific AR experiences. Trace has previously collaborated with several major businesses, including Qualcomm, Telefónica, T-Mobile, and Lenovo. This suggests an emphasis on establishing partnerships at an enterprise level.
 
</div>

Trace raises USD 2 million in pre-seed funding to build location-based AR spaces

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

Logistics Tech

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 Geek+, a robotics company specialising in logistics and warehouse operations, has launched the first 'PopPick', a shelf-to-person system, in Denmark. This has been implemented at Med24.dk, a leading online pharmacy wholesaler. This is the first Geek+ project in the Nordic region and will be carried out in collaboration with System Teknik, an automation solutions provider. 
 The project will include the deployment of three PopPick stations and 30 robots that will enhance efficiency in Med24.dk’s warehouse operations. These robots are capable of handling products of various sizes without necessitating any additional infrastructure.
 The PopPick stations in Med24.dk’s warehouse are designed with dual retrieval arms enabling them to hold multiple tote racks at a time. This feature results in a high processing rate of up to 450 totes per hour.
</div> Analyst QuickTake: 
 Today’s collaboration adds System Teknik to Geek+’s more than 1,000 customers, including <a href="https: 
//sp-edge.com/updates/28489"> Toll Group, </a> Decathlon, Dell, Nike, Walmart, and ASKUL.

Geek+ partners with System Teknik to deploy shelf-to-person robots for Med24.dk in Denmark

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

INCUMBENTS_PRESENT

<div>
 Serve Robotics, a droid-based delivery services provider, has intensified its collaboration with Magna International, an automotive supplier. Magna is now the sole manufacturer of Serve's delivery robots as a result of this partnership expansion.
 This partnership expansion is anticipated to aid Serve's objective of deploying up to 2,000 robots across the US using the <a href="https://sp-edge.com/updates/18949">Uber Eats platform.</a>
 Such an extension stems from a previous licensing agreement that gave Magna permission to leverage Serve's groundbreaking technology to create unique robotic products.
 
</div> Analyst QuickTake: 
 Today’s news comes from Serve Robotics announcing a <a href="https: 
//sp-edge.com/updates/28563"> USD 40 million public offering </a> and uplisting on Nasdaq transitioning from the <a href="https: 
//sp-edge.com/updates/28563"> OTCQB Venture Market </a> where it was previously listed. The company intended to use the funds partially to expand the manufacturing of its droids. On a separate note, rival droid maker <a href="https: 
//sp-edge.com/companies/1327780"> Carkten </a> also has <a href="https: 
//sp-edge.com/updates/12853"> a September 2022 partnership </a> with Magna International to produce its droids.

Serve Robotics appoints Magna International as exclusive manufacturer of delivery droids

<div>
 Pipedream Labs, a developer of underground robotic delivery systems, has successfully raised USD 13 million in seed funding. This funding round was led by Starship Ventures and also saw participation from Cortado Ventures, and Myelin Ventures, among others. With this, the company's total funds raised amount to USD 19.5 million.

The company aims to use the capital raised primarily to scale the delivery of its Instant Pickup systems, which already has over 100 preorders. Alongside this, Pipedream also has ambitious plans to construct a large-scale underground middle-mile delivery network within the year, with anticipation of its usage commencing by the next spring (March–June).

</div> Analyst QuickTake: 
 Pipedream Labs is the only startup in the last-mile logistics space that offers autonomous underground delivery services. Today’s fundraising marks the second time the company has raised funds within six months, following the <a href="https: 
//www.sec.gov/Archives/edgar/data/2000144/000156761923007648/xslFormDX01/primary_doc.xml"> USD 9.5 million raise </a> in venture capital in November 2023.

Pipedream Labs raises USD 13 million in seed funding to scale deliveries and establish underground delivery network

Building future-ready applications in the cloud

Cloud-native Tech

<div>
 The multinational IT and consulting firm, International Business Machines (IBM), is reportedly on the verge of acquiring HashiCorp, a leading provider of multi-cloud infrastructure automation software. IBM aims to enhance its cloud services through the acquisition of HashiCorp.
 HashiCorp, the maker of the highly demanded infrastructure automation software Terraform, is known for developing solutions which address real-world IT issues in multi-cloud environments, relating to infrastructure provisioning, security, networking, and application deployment.
</div> Analyst QuickTake: 
 IBM’s <a href="https: 
//sp-edge.com/companies/2981#strategy"> strategy </a> includes strengthening and promoting hybrid cloud solutions and AI adoption and pursuing M&amp;A opportunities to serve clients better. Its series of acquisitions focusing on AI and hybrid and multi-cloud solutions include <a href="https: 
//newsroom.ibm.com/IBM-acquires-Manta-Software-Inc-to-complement-data-and-AI-governance-capabilities"> Manta </a> , <a href="https: 
//newsroom.ibm.com/2023-06-26-IBM-to-Acquire-Apptio-Inc-,-Providing-Actionable-Financial-and-Operational-Insights-Across-Enterprise-IT"> Apptio </a> , <a href="https: 
//techcrunch.com/2022/07/06/ibm-acquires-databand-to-bolster-its-data-observability-stack/"> Databand </a> , and notably <a href="https: 
//www.redhat.com/en/about/press-releases/ibm-closes-landmark-acquisition-red-hat-34-billion-defines-open-hybrid-cloud-future#: 
~: 
text=IBM%20(NYSE%3AIBM)%20and,the%20cloud%20market%20for%20business."> RedHat </a> . This move could strengthen IBM's competitive position in the cloud market. HashiCorp is renowned for its tools that automate the provisioning, securing, and running of cloud infrastructure, which would complement and enhance IBM's existing cloud offerings.

IBM gears up to acquire HashiCorp

<div>
 Chinese startup Whale Dynamic, specializing in developing autonomous delivery vehicles (ADVs), has entered into a partnership with Fixposition, a Swiss firm providing high-precision positioning technology. 
 The collaboration entails the integration of Fixposition’s Vision-RTK 2 sensor into Whale Dynamic's autonomous driving system. This will allow for accurate positioning even in challenging environments.
 The aim of this partnership is to address the common navigation issues encountered in areas with blocked global navigation satellite system signals. By using Fixposition's sensor, consistent and accurate positioning is ensured, thereby improving the dependability and versatility of Whale Dynamic's autonomous driving solutions.
</div>

Whale Dynamic partners with Fixposition to integrate high-precision positioning technology to ADVs

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 Pony.ai, a Chinese autonomous driving startup backed by Toyota and Nio Capital, is approved by the China Securities Regulatory Commission (CSRC) for an initial public offering in the US. The company plans to list 98.2 million shares on either the Nasdaq or the New York Stock Exchange.
 This approval comes on the heels of a recent statement from the CSRC expressing an intent to simplify overseas listings for Chinese tech companies. This move represents a significant change in policy, shifting from the more restrictive approach seen in the past few years.
</div> Analyst QuickTake: 
 Pony.ai, established in 2016, operates R&amp;D centers across several locations, including Silicon Valley and major Chinese cities. The company also runs local robotaxi services in China. Furthermore, recently, Pony.ai also received <a href="https: 
//sp-edge.com/updates/23028"> USD 100 million </a> from Saudi Arabia's Neom. The company also plans to develop a joint venture in Saudi Arabia and expand with a new <a href="https: 
//sp-edge.com/updates/27379"> R&amp;D center in Luxembourg. </a>

Pony.ai gets approval from Chinese securites for US IPO

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

Digital Wellness

<div>
 
 Headspace, a California-based company, has launched a new mental health coaching service which provides one-on-one support to help users overcome various challenges in life. This service is accessible to its direct-to-consumer subscribers at $99.99 per month.
 The coaches utilise clinically validated techniques to provide personalised, action-oriented care. They are trained in setting realistic goals, promoting new habits, and motivating change, all the while holding the individuals accountable for their progress. Headspace maintains that this service is a more affordable and accessible alternative to therapy.
 Beyond coaching, Headspace also offers meditation mindfulness tools, stress management programmes, and sleep therapy solutions. These are delivered via a smartphone app. Additionally, the company runs a business-to-business program known as “Headspace for Work".
 
</div>

Headspace introduces direct-to-consumer mental health coaching services

Climate Risk Analytics

<div>
 
 An AI-powered property risk analytics provider, ZestyAI, has entered into a partnership with homeowners insurance provider, Florida Peninsula Insurance. This partnership is aimed at enhancing Florida Peninsula's understanding and analysis of property-level risk.
 The deal outlines that Florida Peninsula will utilize ZestyAI's solution, Z-PROPERTY Location Insights. This solution employs advanced machine learning and computer vision to gather property data from various sources.
 The collaboration is expected to improve underwriting accuracy and operational efficiency. Specifically, the use of ZestyAI's platform, which can identify high-risk landscape features without needing site visits, will provide increased transparency for policyholders and reinsurers.
 
</div> Analyst QuickTake: 
 This partnership follows ZestyAI’s collaboration with <a href="https: 
//sp-edge.com/updates/24446"> Cytora </a> , a UK-based insurance company, to integrate ZestyAI's solution into Cytora's platform to augment underwriters with climate-related risk data. As a result, Cytora was able to make informed underwriting decisions through a comprehensive assessment of a property's exposure to natural disasters.&nbsp;

ZestyAI partners with Florida Peninsula Insurance to enhance property risk analytics

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 Wiz, a cloud security company, is planning to acquire another player in the sector, Lacework, for an amount between USD 150 million and 200 million. Lacework's previous valuation was USD 8.3 billion during its last funding round.
 Lacework's product is a cloud-native application security platform. Its functionalities include safeguarding applications from their creation to their operational phase, detection of abnormal behavior, and assurance of compliance across multiple cloud environments, containers, and workloads.
 Although Wiz and Lacework are both active in the cloud security sector, reportedly, they do not pose significant competition to each other. Hence, Wiz's acquisition of Lacework is believed to be an initiative for customer acquisition and consolidation in the market.
</div> Analyst QuickTake: 
 This is Wiz’s second acquisition this year: 
 The company closed a <a href="https: 
//sp-edge.com/updates/27562"> deal </a> to acquire cloud detection and response (CDR) firm <a href="https: 
//sp-edge.com/companies/2632731"> Gem Securit </a> y earlier in April at an estimated USD 350 million.

All Updates