Fintech PR

Cerebrum Tech Secures $1.8 Million Investment Led by Bogazici Ventures VC

Published

7 months ago

October 17, 2023

cerebrum-tech-secures-$1.8-million-investment-led-by-bogazici-ventures-vc

ISTANBUL, Oct. 17, 2023 /PRNewswire/ — Cerebrum Tech, a pioneering technology company, celebrated for its recent innovations such as Cere and Cere Insight in the field of generative artificial intelligence, has successfully secured a substantial investment of $1.8 million, valuing the company at $15 million. This achievement was made possible through the collective support of individual and institutional investors, under the leadership of Boğaziçi Ventures, one of Türkiye’s foremost Venture Capital companies. This investment not only signifies a substantial vote of confidence in Cerebrum Tech’s endeavors but also positions the company for further growth and innovation in the dynamic realm of generative artificial intelligence.

Cerebrum Tech, a visionary venture studio recognized for its outstanding products and solutions across diverse sectors, including artificial intelligence, finance, industry, e-commerce, and Web3, has successfully secured a noteworthy investment of $1.8 million. This investment was led by Boğaziçi Ventures, a leading name in Türkiye’s technology-focused venture capital landscape. The valuation of this achievement stands at an impressive $15 million.

The investment process was realized with the enthusiastic participation of both individual and institutional investors, marking an important milestone for Cerebrum Tech. This strategic collaboration will see Cerebrum Tech become an integral part of the BV Growth Venture Capital Investment Fund’s portfolio, which boasts participation from a range of forward-thinking investors, both individual and institutional alike.

In March, Cerebrum Tech unveiled Cere, a groundbreaking artificial intelligence application. Available in both personal and corporate versions, Cere is one of the first AI applications to leverage 3D avatars, offering a dynamic and immersive experience. Following this remarkable launch, September witnessed the introduction of Cere Insight, an innovative addition to the realm of artificial intelligence. Cere Insight stands out with its unique capabilities, allowing users to efficiently summarize extensive documents with multi-file support, and extract valuable insights from large datasets. Notably, it accomplishes this without necessitating coding expertise, thanks to its advanced LLM technology. Moreover, it empowers users to effortlessly create customizable chatbots with seamless web integration, delivering a transformative experience.

Cerebrum Tech has consistently championed pioneering initiatives across various sectors. From artificial intelligence and internet of things to finance and the dynamic Web3 sphere, Cerebrum Tech continues to make indelible contributions to the evolving technology landscape.

“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one”

“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one,” affirmed Dr. Erdem Erkul, Founder and Chairman of the Board of Directors at Cerebrum Tech, an esteemed leader in Türkiye’s artificial intelligence landscape. He elaborated on the company’s journey, stating, “When Cerebrum Tech set its course in 2021, we committed to fostering the growth of the technology entrepreneurship ecosystem in our homeland and establishing ourselves as a distinguished new-generation technology firm on the global stage. The partnership with Boğaziçi Ventures, I believe, is a pivotal step towards achieving our ambitious goals. We will persistently innovate and scale our existing products to cater to the evolving landscape of new-generation technologies, including artificial intelligence, which is already shaping the future, for the global audience.”

In addition to Boğaziçi Ventures, a prominent investment company in Türkiye, and a group of international investors, Cerebrum Tech has garnered support from Inveo Ventures Coinvestment Venture Capital Investment Fund. This forward-thinking fund specializes in investing in future technologies, aligning seamlessly with Cerebrum Tech’s commitment to innovation.

Furthermore, Cerebrum Tech remains bolstered by individual investors, notably including Faruk Eczacıbaşı, one of the company’s early backers. His continued involvement in this investment round underscores the unwavering commitment to Cerebrum Tech’s growth and success among individual investors.

“Cerebrum Tech is set to assume a pivotal role within our portfolio”

“Cerebrum Tech is set to assume a pivotal role within our portfolio,” declared Barış Özistek, Managing Partner of Boğaziçi Ventures. Boğaziçi Ventures, renowned for its unwavering focus on innovative technologies and disruptive innovation, has added Cerebrum Tech to its roster of investments. Cerebrum Tech, one of Türkiye’s standout success stories in the fields of artificial intelligence and Web 3.0, has exhibited remarkable growth and potential in recent years.

“In 2023, Boğaziçi Ventures maintains its steadfast commitment to investing in visionary projects driven by technology. This approach, rooted in constructive disruption, is instrumental in shaping the future. Cerebrum Tech, now a proud member of our BV Growth Venture Capital Investment Fund, has rapidly ascended to become one of the flagship projects within our expansive portfolio.”

“An Investment Paving the Way for a Bright Future”

Boğaziçi Ventures, a trailblazing name in Türkiye’s alternative asset management sector, is on a mission to invest in the future by emphasizing projects that bring intrinsic value, distinct from the conventional investment management approach. Boğaziçi Ventures wholeheartedly believes in the potential of technology and technology entrepreneurs in our homeland. In each of our investments, we go beyond mere financial contributions, standing shoulder-to-shoulder with our portfolio companies throughout their journey as a dedicated team. We bolster them with our wealth of knowledge, experience, and an extensive network of resources.

As we embark on the shared journey of fostering Cerebrum Tech’s growth, we take immense pride in the opportunity to co-author a new chapter of success within the vibrant entrepreneurship ecosystem of our nation. This investment embodies our unwavering commitment to catalyze innovation and pave the way for a brighter future.”

About Cerebrum Tech:

Established in 2021, Cerebrum Tech is a forward-thinking venture studio dedicated to pioneering solutions in key sectors like Artificial Intelligence, the Internet of Things, finance, e-commerce, and Web3. Fueled by a team of experts, Cerebrum Tech excels in driving digital transformation, developing innovative, globally recognized applications in artificial intelligence, Web3, data security, consultancy, as well as smart cities and sustainability. At the heart of Cerebrum Tech’s mission is a vision to be a trusted leader in next-generation technology operating from strategic locations, including Silicon Valley, Istanbul, Seoul, Ankara, the Netherlands, Malta, and London, It’s a venture studio firmly rooted in its belief in harnessing the potential of young talent.

About Boğaziçi Ventures:

Boğaziçi Ventures stands as a preeminent alternative investment firm, specializing in the conception and management of funds dedicated to technology companies across various sectors and global territories. Their commitment lies in generating substantial added value for the companies they invest in.

With a distinguished history of investment decisions that have impacted over 100 technology companies, Boğaziçi Ventures takes an active role in nurturing technology startups. The firm’s partners and team actively engage with entrepreneurs, providing guidance, mentorship, and invaluable knowledge transfer to steer them toward international success.

Boğaziçi Ventures encompasses a group of companies that establish and oversee specialized funds tailored to the unique requirements of investors. Additionally, the firm offers secure custody services for digital currencies, catering to the evolving needs of the digital economy.

A subsidiary of Boğaziçi Ventures, BV Asset Management, plays a pivotal role in assisting both individual and institutional investors in establishing and managing mutual funds, in accordance with the regulations of the Capital Markets Law.

Distinguished by its innovative approach, BV Asset Management establishes and oversees funds that are intricately tied to technology, providing opportunities to invest in publicly traded technology companies.

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Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024

Published

1 month ago

April 5, 2024

CISION (PR Newswire)

STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf	Invitation to presentation of EQT AB’s Q1 Announcement 2024
https://news.cision.com/eqt/i/eqt-ab-group,c3285895	EQT AB Group

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Fintech PR

Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

Published

1 month ago

April 5, 2024

CISION (PR Newswire)

kia-presents-roadmap-to-lead-global-electrification-era-through-evs,-hevs-and-pbvs

Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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Fintech PR

BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

Published

1 month ago

April 5, 2024

CISION (PR Newswire)

VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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