Tel Aviv-based electric grid technology firm poised to focus growth on US market with hires and Austin-based offices.
TEL AVIV, Israel, Sept. 14, 2023 /PRNewswire/ — Prisma Photonics, the dynamic, AI-driven startup that monitors large-scale infrastructure, such as power grids, announced today that it raised approximately $20M in a Series C round led by New York-based global private equity and venture capital firm Insight Partners, with participation from Elements, a Climatech fund, SE Ventures (Schneider Electric’s venture capital arm), Future Energy Ventures (the venture capital investment and collaboration platform of E.ON), Chione Switzerland, and INcapital.
The investment will accelerate the company’s break into the global power and renewable energy market while supporting its continued growth. This round brings the total funding raised by Prisma Photonics to over $50 million. The company’s earlier investors include Israel Electric Corporation, Israel Natural Gas Lines, and i3 Equity Partners.
Prisma Photonics optical fiber sensing technology offers power transmission operators better ways to manage their grids. It allows them to maximize the electrical capacity of the current grid to increase the integration of renewable energy sources. Doing that, operators respond to new emerging regulations such as FERC order 881 in the U.S. and similar. Real-time alerts on electrical faults and extreme weather conditions such as wildfires and icing offer better ways to retain grid resiliency in changing environments.
Prisma Photonics’ solutions monitor infrastructure using the existing optical fibers covering great distances, of up to thousands of kilometers, without the need to install any sensors on the infrastructure itself. Events and alerts are reported in real time and within meters of accuracy.
“Grid congestion and the integration of renewable sources have become pressing challenges for power market operators such as our Tier-1 customers,” states Dr. Eran Inbar, CEO of Prisma Photonics. “Our AI-driven technology not only adds a layer of resilience to the grid but also enables dynamic line rating capabilities, unlocking the full potential of existing infrastructure. This investment led by Insight Partners highlights the urgent need for innovative, scalable solutions in critical infrastructure management.”
“In a rapidly accelerating power and energy sector, we see both the market necessity and vast potential for Prisma Photonics’ solutions. Their unique blend of AI and engineering expertise addresses some of the most urgent challenges facing power operators today and their AI application can help solve consequential problems in infrastructure,” said Ganesh Bell, Managing Director at Insight Partners. “It’s a high-growth space, and doubling down on our investment in Prisma Photonics is not just strategic but imperative. We’re thrilled to back Eran and his team as they redefine the future of energy infrastructure management.”
“In a world grappling with climate imperatives, Elements fund aims to back those at the cutting edge of the energy and climate technologies.”, says Nitsan Alon, Managing Partner at Elements Venture Capital. “Our investment in Prisma Photonics is more than financial. It’s a testament to our belief in their capability to impact the industry significantly, and we are proud to have them as our first major investment.”
Prisma Photonics optical fiber sensing technology covers several infrastructure sectors, including power, oil and gas pipelines, subsea infrastructure, railways, highways, and other long-range utilities. It allows operators to increase infrastructure operations’ safety, efficiency, and cost-effectiveness while actively supporting utility operators in achieving their net-zero goals.
About Prisma Photonics
Prisma Photonics revolutionizes infrastructure monitoring by using optical fibers to monitor critical large-scale infrastructure like power grids and oil & gas pipelines for thousands of kilometers, eliminating the need for sensors.
Combining Hyper-Scan Fiber-Sensing™ technology with machine learning allows utility operators to reach environmental and renewable energy goals while keeping operational excellence in their journey to net-zero emissions.
Founded in 2017 by an expert team with a proven track record of building and scaling companies in the deep-tech domain
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
About Elements Fund
Elements is a leading Venture Capital fund, with a primary focus on startups that are driving ground-breaking solutions to combat climate change. Our mission is to support and nurture companies at the forefront of climate technology, particularly in the energy sector. Through our own network we hope to assist portfolio companies in scaling globally.
View original content:https://www.prnewswire.co.uk/news-releases/ai-driven-grid-resilience-firm-prisma-photonics-secures-approximately-20-million-led-by-insight-partners-to-monitor-large-scale-critical-infrastructure-towards-net-zero-emissions-301926352.html
BranchOut Food Inc. Expands Partnership with EnWave Corporation. Increasing Manufacturing Capacity by an Additional ~$15mm Annually & Secures Additional Product Exclusivities.
BEND, Ore, Sept. 28, 2023 /PRNewswire/ — BranchOut Foods Inc. (NASDAQ: BOF), the global trailblazer in GentleDried natural snacks and superfood ingredients, is proud to announce a significant expansion of its partnership with EnWave Corporation (TSX-V: ENW | FSE: E4U). BranchOut has agreed to purchase a second large-scale, continuous throughput dehydration machine from Enwave. Under the terms of the new Equipment Purchase Agreement (the “Agreement”), the 120kW REV™ machine is slated for delivery to BranchOut in late calendar 2024 and will add an additional $15mm in estimated topline capacity.
Eric Healy, CEO of BranchOut Food Inc., emphasized, “We are confident that this increased capacity will align perfectly with our growth trajectory, especially in light of our recent commitments from major retailers and the substantial sales pipeline we have established.”
Enwave’s Radiant Energy Vacuum (REV™) technology and associated patent portfolio was previously licensed to BranchOut along with exclusivity for its original core products. Under the new Agreement, the product exclusives have been significantly expanded to encompass the new and innovative products BranchOut has recently developed and will be launching in the very near future.
About BranchOut Food Inc.: BranchOut is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by their licensed dehydration technology. BranchOut Food is a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com.
About EnWave: EnWave Corporation stands as a global leader in vacuum microwave dehydration innovation and application. Operating from its headquarters in Vancouver, BC, EnWave boasts an impressive intellectual property portfolio and has refined its Radiant Energy Vacuum (REV™) technology into a proven, consistent, and scalable drying solution. This revolutionary technology outperforms traditional drying methods in terms of efficiency, capacity, product quality, and cost.
BranchOut Food Inc.
Email: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/branchout-food-inc-expands-partnership-with-enwave-corporation-increasing-manufacturing-capacity-by-an-additional-15mm-annually–secures-additional-product-exclusivities-301941949.html
SIGMA Financial AI unveils Akili-AI: Cutting-Edge, AI-based, no-code suite of tools for traders
– Augments trader’s interactions and transforms decision-making capabilities
– Handles the full extent of structured to unstructured financial data
– Mitigates portfolio exposure risk and accelerates speed to market
LONDON, Sept. 28, 2023 /PRNewswire/ — SIGMA Financial AI, an innovator in developing AI-driven trading solutions, launches Akili-AI*, a sophisticated suite of enterprise-ready trading strategy tools. Akili-AI is a cutting-edge, no-code solution enabling data-driven insights to support the specialist needs of the global financial services trading community.
Akili-AI incorporates machine learning (ML) and natural language processing (NLP) to deliver agile tools which are more intelligent, faster and easier to use, enabling traders to create strategies at a scale and speed unachievable without AI support. Completely asset-class and instrument-agnostic, the Akili-AI system streams real-time trading data, allowing users to screen, test and design complex trading strategies promptly.
Their SaaS-based Pattern matching platform (Patterns as a Service) helps traders monitor thousands of instruments in real-time, scanning charts for momentum changes, technical signals, support, and resistance zones. The NLP research function supports fundamental and technical qualifications from thousands of news, social media and traders’ data. Akili-AI’s flexible modular architecture, built using modern protocols, is cloud-based and scales to support the largest trading enterprises.
Andy Simpson, Co-founder and CEO, commented, “Traders are having to cope with a constant squeeze on their book; this, combined with a huge increase in data volumes, has created the need for transformative solutions which can help them find an edge. They need the ability to find new liquidity fast, enhance their trade execution capabilities, and reduce portfolio risk; Akili-AI can deliver all this at a lower cost point and faster than ever.”
“Akili-AI transforms market interaction and improves productivity by liberating traders from the constraints imposed by long-established, outdated working practices and legacy technology infrastructures. Accelerated speed to market is crucial in an industry where every second counts. Our mission is to provide AI-based solutions which enhance the human experience – not replace them – helping to generate more revenue and increased profitability,” Andy continued.
Rob Maunder, Co-founder and Chief Commercial Officer, said, “Our pioneering and creative team is an unusual blend of deep financial services experience, phenomenal engineering and world-class AI technologists who bring an unrivalled track record of developing new platforms at pace. We break the mould by delivering incredible engineering of low-latency, highly scalable systems drawing on more than a decade of generative AI experience in the social media and music industries.”
Andy concluded, “Akili-AI is the start of a refreshingly different journey of technological change; watch this space. There is much more to come.”
*Akili is the Swahili word for intelligence.
About SIGMA Financial AI:
We provide traders with a set of tools that are faster, smarter and easier to use. Our AI machine learning product suite unlocks trading opportunities through real-time analytics underpinned by world-leading, scalable, ultra-low latency architecture.
Note to Editors: For more information about SIGMA Financial AI, please visit www.sigmafinancial.ai.
NJI Welcomes Allison Hoffman Cousens as Managing Director of Partnerships & Marketing
Expanding agency capabilities include new content development division
ALEXANDRIA, Va., Sept. 28, 2023 /PRNewswire/ — NJI, a global creative agency that solves complex public affairs challenges, announced today the appointment of Allison Hoffman Cousens as Managing Director of Partnerships & Marketing. She joins NJI after nearly a decade of guiding Meta’s global public policy efforts in Menlo Park and London. She previously served as a product manager for Intuit.
Sustained, record-breaking growth has enabled us to further deepen NJI’s capabilities and resources for our clients. We are pleased to welcome veteran reporter and writer Amy Burroughs as Senior Director of Content Strategy to lead NJI’s new Content Strategy division to directly support the diverse content needs of clients, including script development, campaign and brand strategy, advertising and website copy, editing, original reporting, and so much more.
“NJI’s creative potential is directly tied to our ability to foster outrageous, boundary-breaking ideas within our teams,” remarked NJI’s President Lara Kline. “Each new team member is chosen for how they will challenge our existing perspectives. We hone our work through research, data, and experience—but it is sustained intellectual curiosity that sets it apart.”
Julia Ames joins NJI as a Creative Director after leading HumanKind Studio for 15 years and concurrently continues to serve as an adjunct professor for the Corcoran School of the Arts and Design at The George Washington University and The University of the District of Columbia.
NJI is also privileged to have four additional talented professionals join us in recent months. This includes Beth Reiser, Project Director; Dale Peart, Senior Designer; Cortney Legg, Account Director; and Hank Farr, Video Producer.
Investing in current team members is equally important and NJI is pleased to recognize the following promotions: Daniel Kemether to Managing Director, Bill Risen to Multimedia Director; Vincent Levin to Account Director; Sydney Novack to Director; and Kate Phillips to Senior Project Manager.
NJI is a global creative agency that solves complex public affairs challenges with fully orchestrated, elegantly crafted content. Founded in 2007, our clients seek to educate and inform policymakers and policy influencers, stakeholders, and constituents. We specialize in distilling complexity and making the creative process effortless for our clients with the highest level of client service. NJI has offices in Washington, D.C., London, and Singapore.
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- NJI Welcomes Allison Hoffman Cousens as Managing Director of Partnerships & Marketing
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