Next-generation antibiotics + BioCatch lassos money mules, boosts ARR by 40%
A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform
Startup of the Week
Omnix Medical: Next-generation antibiotics targeting resistant bacteria
The widespread use and over-prescription of antibiotics has led to the emergence of resistant strains of microorganisms that cause millions of deaths and cost health systems tens of billions of dollars each year. Omnix Medical aims to tilt the odds in the battle against resistant bacteria. The company uses novel technology to modify antimicrobial peptides found in insects’ immune systems to be effective therapeutic agents for use against a range of antibiotic resistant bacteria. Omnix is gearing up for FDA-approved Phase 2 trials for its leading asset, OMN6, which has been proven to be safe in human volunteers while effective against a resistant bacterium that can cause pneumonia and other infections. OurCrowd has an allocation in Omnix’s Series C round, 80% of which has already been committed.
Spot AI raises $31M, launches video AI agents
Spot AI, a leader in video AI and OurCrowd portfolio company, raised $31M in new equity funding, bringing its total funding to $93M. Qualcomm Ventures participated in the new round alongside existing investors Scale Venture Partners, StepStone Group, Redpoint Ventures, and Bessemer Venture Partners. GSBackers, MVP Ventures, Cheyenne Ventures, and OurCrowd also participated. In addition, Spot launched its Video AI Agents platform which helps organizations instantly surface and resolve incidents across safety, security, and operations, delivering measurable ROI for manufacturing, education, retail, and auto services. “Our AI Agents see your physical space, use advanced AI to reason about what's happening, and take actions in real time. This funding allows us to push the boundaries of what's possible and bring the power of AI from the screen to the physical spaces where we live and work,” says Rish Gupta, CEO of Spot AI, which has 1,000 customers across 17 industries.?
Kardome raises $10M Series A
Israeli startup Kardome, which develops highly advanced voice AI technology, secured $10M in a Series A funding round led by Korea Investment Partners, Meir Orbach reports in Calcalist. Kardome creates software that enables devices to respond to natural, voice-driven, and context-aware interactions. “Our Spatial Hearing software unlocks ambient audio's potential, making it possible for devices to truly understand the context of speech, whether in a busy car or a bustling street,” says Dani Cherkassky, Kardome's CEO. Additional investors in the Series A include Next Gear Ventures, KB Investment, Honeystone Ventures, J-Ventures, Hyundai Motor Group, Talar Corp., and Techstars.?
D-ID avatars among Time magazine’s best inventions
Time magazine hails the multilingual, conversational AI avatars created by OurCrowd portfolio company D-ID as one of the best inventions of 2024. D-ID’s AI agents resemble hyper-realistic digital humans and can clone an individual’s voice, enabling companies to create hyper-personalized, fully interactive advertising campaigns to more directly engage customers. D-ID also launched two new avatar creation tools – Premium+ Avatars and Express Avatars – as well as a new AI Video Marketing Suite for Enterprise which empowers marketers to create ultra-realistic, personalized video campaigns using only source footage and a basic script. “With the ability to create endless AI influencers, speak directly with all of your website visitors and reach multiple markets through our translation capabilities, D-ID Marketing Suite is a must-have for every marketing professional looking to decrease production costs and increase revenue,” says Gil Perry, Co-founder and CEO of D-ID.
BioCatch boosts ARR by 40%
BioCatch, the AI-powered digital fraud detection leader and OurCrowd portfolio company, increased its ARR by 40% YOY in Q3. The firm added 31 new customers in the quarter and continued to strengthen relationships with the world’s largest retail banks, achieving 124% net dollar retention over the last 12 months. Total ARR from new products grew 165% YOY, driven in part by significant adoption of its mules solution in the APAC region, where BioCatch helped banks shut down more than 150K money mule accounts in 2023. “Bad actors never stop innovating, and so we – as an industry – must not either. We're excited to introduce new initiatives and deliver forward-thinking solutions in the next few months and beyond, that we believe will forever change the fraud and financial crime-fighting landscape,” says Gadi Mazor, CEO of BioCatch.?
Four Seasons San Francisco lands Oshi’s vegan seafood
The iconic Four Seasons Hotel San Francisco will offer vegan salmon from Oshi, an OurCrowd portfolio company that makes a whole-cut salmon fillet from fermented fungi, algae, soy protein and a blend of vegetable oils, Anay Mridul reports for Green Queen. The dish will be on the menu at the MKT Restaurant and Bar as part of the hotel group’s “ongoing commitment to sustainable luxury.” Oshi salmon is now available at selected restaurants across the US, including Urban Vegan Kitchen, Mercury Bar West, and Neat in New York City; V-Spot Food in New Hope; DVASH in Boca Raton; and BeeWali’s Vegan AF in Los Angeles.
NYT: Cyabra shows fake online profiles undermine trust in US elections
The 2024 US elections are over but analysis from OurCrowd portfolio company Cyabra, published in the New York Times, sheds light on the disinformation surrounding the aftermath of the vote. The tallies initially suggested a sharp drop-off of millions of Democratic votes compared with the results in 2020, which led conspiracy theorists from both sides of the political spectrum to take to social media. Cyabra found that posts from profiles with tiny numbers of followers were able to reach tens of millions of people with conspiracy theories that sought to cast doubt on the election process despite scant evidence of any fraud. Cyabra blames the posts for “undermining trust in the 2024 election process and democratic institutions.”
MedAware, Ballad Health expand pharmaceutical risk monitoring?
MedAware, OurCrowd's AI-powered medication safety monitoring platform, will provide patient-specific analysis of real-time and evolving medication-related risks for acute care patients of Ballad Health, the US-based healthcare provider. MedAware’s platform enables pharmacists and clinical care teams to intervene with medication dose changes, therapy changes, or continued monitoring before harm occurs. “By leveraging MedAware's platform, we are taking a proactive approach towards delivering all our patients the highest standard of care,” says Trish Tanner, Chief Pharmacy Officer for Ballad Health, which services 29 counties of the Appalachian Highlands in Tennessee, Virginia, North Carolina, and Kentucky.
Tabnine unveils industry-first, personalized AI code review agent
Tabnine, OurCrowd’s originator of AI code assistants, unveiled the Tabnine Code Review Agent – a first-of-its-kind AI software validation agent that enables organizations to produce higher quality, more secure code. The Code Review Agent leverages and enforces a team’s unique best practices and standards for software development. The agent makes it effortless for organizations to codify their institutional knowledge, corporate policies, and software development standards, including best practices and patterns. “Tabnine’s unique approach to personalization allows our agents to behave like a fully onboarded member of your engineering team that is steeped in your team’s ways of working,” says Peter Guagenti, President of Tabnine.?
GoDaddy picks Tailor Brands to help microbusinesses grow?
Tailor Brands, OurCrowd’s comprehensive branding and management platform for microbusiness owners, is GoDaddy’s (NYSE: GDDY) first partner in the global web hosting giant’s first API integration program for third-party platforms. Tailor Brand’s unique ecosystem empowers solopreneurs and microbusinesses with automated brand design, accessible LLC formation, insurance, and banking features. Its integration with GoDaddy’s new Website Builder product will enable Tailor Brands to expand its offering to its customers to include a proven website building API, while at the same time opening doors for the one-stop microbusiness platform to small businesses worldwide.
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Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd, the global venture investing platform.
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