Silicon Valley Journals Prime Movers Lab, a venture capital firm with a focus on investing in breakthrough scientific startups, has successfully raised $245 million for its third early-stage fund, bringing its total assets under management to over $1.2 billion. The firm’s new investment vehicle will continue to invest in companies working on innovative solutions to address the world’s … Read more
Surge Transportation, a digital freight brokerage based in Jacksonville, Florida, has filed for Chapter 11 bankruptcy protection in the Central District of Florida. The company was founded in 2016 and quickly grew to a workforce of over 100 people, generating approximately $150 million in gross revenues in 2022. However, the freight market downturn over the … Read more
AppHarvest, a US-based agtech company, has filed for Chapter 11 bankruptcy protection as part of a financial and operational transition to address its outstanding liabilities. The company made voluntary petitions for protection under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas. To support its operations during this period, AppHarvest secured … Read more
iotaMotion, a pioneering company in the development of advanced robotic-assisted systems for cochlear implant surgery, has successfully completed its Series A capital raise, securing a total of $12 million. The funding round was oversubscribed, with strong support from a group of venture capital firms, private investors, and existing shareholders. Research Corporation Technologies, Inc. (RCT) led … Read more
Infinity Pharmaceuticals is facing significant challenges after the collapse of its proposed merger with MEI Pharma. In an effort to mitigate the impact and reduce its expenses, the company has taken drastic measures, including laying off 78% of its staff and shrinking its board of directors. The merger with MEI Pharma was expected to be … Read more
CD Projekt Red, the renowned game development company, has announced a significant layoff, affecting approximately 100 employees, which constitutes around 9% of its workforce. This restructuring move comes as the company focuses on its work on new gaming titles. This marks the third round of layoffs for CD Projekt Red this year, having previously impacted … Read more
OpenAI, the renowned AI research lab, has unveiled its official ChatGPT app for Android, a groundbreaking development that brings the power of AI-generated conversations directly to mobile users. The app leverages the advanced capabilities of ChatGPT, an AI language model, to offer users a seamless and interactive experience in natural language interactions. ChatGPT has garnered … Read more
With this acquisition, Coro now offers a comprehensive security and protection solution through a unified, cloud-based platform, catering to different organizational configurations.
Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, is currently in talks to acquire a stake worth $1 billion in India’s Reliance Retail, the retail venture of Mukesh Ambani’s Reliance Industries. The potential investment comes ahead of Reliance Retail’s plans for an initial public offering (IPO). A spokesperson from Reliance Industries stated that the company … Read more
H.I.G. Capital, a leading global investment firm, has announced its affiliate’s acquisition of RBmedia from KKR. RBmedia is the world’s leading audiobook publisher with a powerful digital distribution network that serves millions of listeners worldwide. This acquisition represents a significant milestone for RBmedia and marks the next phase of its growth and development. Since KKR’s … Read more