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Source: http://www.intelligence360.io/ and https://intelligence360.news/ CHAOS Industries, a technology company building the next generation of defense and critical industry technologies, today announces that the company has raised $145 million in Series B funding to support the next phase of its commercial growth and development. The Series B was led by Accel, with participation from 8VC, as well as Overmatch Ventures, Lerner Enterprises, and existing insiders. Proceeds will be used to spur the development of CHAOS Industries’ advanced detection, monitoring, and communication solutions to the defense, government, and commercial sectors, as well as to accelerate the company’s product development, hiring plans, and high-volume manufacturing. The Accel-led Series B round brings total funding raised by the company to $215 million since inception. The company also recently announced the appointment of former U.S. Congressman and Central Intelligence Agency veteran Will Hurd as its Chief Strategy Officer. Mr. Hurd’s decades of experience and deep understanding of defense technology make him uniquely positioned to support CHAOS Industries’ mission-driven engineering strategy and guide the company as it allocates these new resources. In a statement John Tenet CHAOS Industries Founder and Co-CEO said, “U.S. national security is at an inflection point” “As our adversaries become more sophisticated, America must embrace next-generation technological innovation to combat more complex national security threats. This funding will accelerate CHAOS Industries’ ability to provide the cutting-edge technological solutions the U.S. and its allies need to remain secure.” Today, CHAOS Industries is actively developing a suite of products known as Coherent Distributed Networks, a paradigm-shifting technology category, which enables unprecedented performance for sensors and effectors. The first product in this category, Vanquish, is a dual-use, multistatic commercial radar that provides early warning and tracking capabilities against unmanned aerial systems, missiles, and aircraft.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Weatherby Healthcare, has announced that it plans to invest more than $7 million and create 148 new jobs in Raleigh. With this expansion, the company adds a new business unit to its North Carolina presence, while retaining 374 employees in the market. Weatherby Healthcare is an industry leader in locum staffing solutions, helping medical facilities to fill staffing gaps and cover difficult-to-fill specialties. Weatherby Healthcare will occupy 46,000 square feet in One North Hills Tower. In a statement Luke Woodyard, president of Weatherby Healthcare said, “We’re thrilled to be making the move to Raleigh. We look forward to providing high-paying jobs and the best in workplace culture to Wake County residents.” “We’re thankful for the opportunity to partner with both the city and county to make this transition a reality, and we look forward to joining this dynamic and engaging business community.” A subsidiary of CHG Healthcare, Weatherby has provided staffing solutions for physicians in rural communities for 45 years. The full-service staffing agency works with medical practices, hospitals, and healthcare facilities to coordinate and execute short-term contracts for healthcare professionals to cover for temporary absences for training, vacation, or medical leave. From housing and travel to licensing and credential requirements, Weatherby covers all aspects of physician placement to ensure complete, uninterrupted care for patients. Weatherby has become one of the largest physician staffing firms in the nation.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Regal, the most customer-centric contact center software, has announced the completion of a $40 million funding round to accelerate the rollout of its groundbreaking AI Phone Agents for contact centers. Regal has now raised $83 Million in total. This new funding marks a significant step forward in Regal’s mission to build a new standard in high-touch, personalized customer communication leveraging generative AI. Large early online retailers saw contact centers as an unnecessary cost center. They pushed legacy Contact Center (CCaaS) providers to focus on building tools to lower contact center costs with one-size-fits-all strategies like deflecting inbound customers to self-serve or lower-cost channels like deterministic chatbots. But customer satisfaction with contact centers and the current “low-touch” model is at an all time low. Unlike traditional contact center software, Regal’s technology provides a high-touch (but cost-efficient) model that understands customer intent signals, tailors interactions to each customer, and automates multi-touch inbound and outbound interactions with a blend of Regal AI Agents and your human agents. The new capital will enable Regal to accelerate the rollout of its AI Agents to contact centers. Regal will offer AI Agents tailored for healthcare, education, insurance, and local/home services – including specific use cases like qualification, inbound routing, scheduling, and reminders. In a statement Alex Levin, CEO and co-founder of Regal said, “With this funding, we’re excited to continue re-imagining the core contact center technology and the way businesses engage with their customers.” “Our high-touch CCaaS puts the customer at the center of every interaction. Instead of optimizing to treat everyone the same at the lowest cost, we aim to reach the right customer with the right message at the right time, enabling businesses to ensure high-quality, personalized, affordable customer interactions.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Connecty AI, emerging from stealth today with $1.8 million in pre-seed funding, has developed a context engine that tackles the inherent complexity in enterprise data. The round was led by Market One Capital, with participation from Notion Capital and data industry experts including Marcin Zukowski, co-founder of Snowflake and Maciej Zawadzinski, Founder of Piwik PRO. Today, enterprise data teams navigate complexity across three critical dimensions: horizontal data pipelines (including multi-source ingestion, multi-cloud data warehousing, data lineage tools, and cataloging systems), diverse consumption patterns (spanning CRM systems, BI dashboards, and machine learning applications), and distributed human knowledge across roles like data engineers, analysts, governance teams, and functional managers. While early AI solutions attempted to automate data workflows by interpreting complex schemas, these models fall short in enterprise environments. Even 90% accuracy isn’t enough when dealing with real-world data complexity. Large Language Models need more than static schema files; they require a continuously evolving, cohesive understanding across systems and teams. In a statement Aish Agarwal, CEO of Connecty AI said, “Our experience has shown us that effective data management is about more than just technology—it’s about connecting the dots between data sources, business objectives and the people who use them.” “Any ad-hoc ‘guerrilla style experimentation’ with LLM data agents can lead to a pilot application but it’s a lot harder to build a production level application that is reliable.” Looking ahead, Connecty AI will expand its context engine’s capabilities across additional data sources and offer it as a service via API. In a market flooded with AI tools that promise to replace human analysts but deliver unreliable results, Connecty AI is taking a fundamentally different approach – embracing the complexity of enterprise data environments and augmenting rather than replacing human expertise.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Houston-based DocJuris, a leader in AI contract review, announced the successful closure of its series A funding round by raising $8 million in new capital. This brings the total capital raised to date to $11.2 million. Companies like Siemens, Dell, FedEx, Toyota, and Duke Energy already use DocJuris with its AI-powered contract negotiation software that automates important tasks during the review, redlining, and negotiation of contracts. DocJuris uses a platform to screen third-party contracts in seconds, can redline clauses with playbook-compliant edits in one click, and also generate formatted track changes, exception tables, and amendments with a cloud-based application. In a statement Henal Patel, DocJuris CEO and Founder said, "DocJuris AI has become an industry-leading platform that empowers enterprise legal, procurement, and sales teams to close deals faster while reducing risk." "With this funding, we will continue scaffolding our platform around generative AI, expand our customer success team, and grow our user base." DocJuris's AI-powered contract negotiation software automates key tasks during the review, redlining, and negotiation of contracts. These capabilities come at a critical time for enterprise teams and general counsels. In a DocJuris survey of 700+ in-house attorneys and contract administrators, an astonishing 74% of companies manually review and draft contracts, amounting to significant errors and time lost in legal operations, sales cycles, and supply chain management. Headquartered in Houston, DocJuris is a dynamic legal tech company committed to revolutionizing contract review and negotiation with its state-of-the-art AI platform. Led by a seasoned team of legal professionals and tech enthusiasts, DocJuris optimizes contract review processes, guarantees policy alignment, and reduces contract negotiation timeframes.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Rush Enterprises begins construction on a new 65,720 Square Foot Service and Sales Facility in Huntley Illinois. Rush purchased 12 acres next to its existing facility for the new project. Construction firm Geis Companies will demolish an existing 32,000-square-foot building on the property. Completion on this new facility is slated for the first quarter of 2026, and the project will be done in three phases. Rush Enterprises is the premier solutions provider to the commercial vehicle industry. The company owns and operates Rush Truck Centers, the largest network of commercial vehicle dealerships in the United States, with more than 100 dealership locations in 21 states. These vehicle centers, strategically located in high traffic areas on or near major highways throughout the United States, represent truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, Mitsubishi, IC Bus and Blue Bird. They offer an integrated approach to meeting customer needs from sales of new and used vehicles to aftermarket parts, service and body shop operations plus financing, insurance, leasing and rental. Rush Enterprises operations also provide CNG fuel systems, telematics products and other vehicle technologies, as well as vehicle up-fitting, chrome accessories and tires.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Insider, a leading AI-native omnichannel experience and customer engagement platform, today announced a $500 million Series E funding round led by General Atlantic, a leading global growth investor. Insider plans to further develop its next-generation marketing software offering and invest heavily in research and development, focusing on expanding and evolving its AI solutions. The company also intends to scale its talent base and geographic footprint, leveraging General Atlantic’s global platform. With an established market position in 28 countries across five continents, including North America, EMEA, APAC, and Latin America, Insider plans to increase its regional investments on the back of strong demand in the U.S. market, where it has achieved significant growth. Additionally, the company will use the funds to explore strategic M&A opportunities. As a leading enterprise marketing software provider, Insider enables marketers and customer experience teams to create highly personalized omnichannel experiences and manage customer engagement from a single platform. With an integrated CDP that vertically integrates data and marketing application layers to fuel marketing automation and personalized customer journey orchestration across 12+ natively-supported channels – including WhatsApp, SMS, Email, Web, App, Site Search, and more – Insider helps marketers to efficiently collect, analyze, and predictively use first-party data in real-time. As a result, brands can accelerate growth, realize higher marketing efficiency, and create more valuable customer relationships. Hande Cilingir, Co-Founder and Chief Executive Officer at Insider, said, “Our mission is to empower marketing and CX teams to deliver a holistic omnichannel experience and deepen customer engagement. Unlike traditional technology companies that focus on a single area or product, our approach has always been to build multiple best-in-breed and industry-leading products, bringing them together in one complete platform that outperforms single-point solutions. As a pioneer of predictive models in customer experience, this funding positions us to further build upon that foundation to disrupt the MarTech industry. We believe that our differentiators, especially AI-enabled tools, will set Insider apart as the preferred choice for marketing and customer experience teams, and we look forward to leveraging General Atlantic’s deep experience backing growth companies to drive the marketing technology shift.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Spot AI, a leader in AI camera systems, today announced the launch of its Video AI Agents, marking a significant milestone in bringing agentic AI capabilities from the digital to the physical world. Video AI Agents help organizations instantly surface and resolve incidents across safety, security, and operations, delivering measurable ROI across manufacturing, education, retail, and auto services. In addition to the launch of its flagship product, Spot AI has secured $31 million in new equity funding, bringing the total raised to $93 million. The latest round saw new investor Qualcomm Ventures participate alongside existing investors Scale Venture Partners, StepStone Group, Redpoint Ventures, and Bessemer Venture Partners. The round also saw participation from GSBackers, MVP Ventures, and Cheyenne Ventures. In a statement Rish Gupta, CEO of Spot AI said, “Eighty percent of our understanding of the world happens through eyes. That’s why we’re dedicated to helping our customers turn their video cameras into additional teammates.” “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.” Spot AI today serves 1,000 customers across 17 industries, indexing more than twice the amount of video uploaded daily to YouTube, to make video data as accessible and actionable as any other type of data in industries facing safety risks, operational hurdles and productivity loss due to labor shortages and security breaches.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Armis, the cyber exposure management & security company, announced the close of a $200 million Series D round of investment, increasing its total company valuation to a new high of $4.2 billion. Armis’ latest funding round was led by both top-tier investors General Catalyst and Alkeon Capital, along with existing investors Brookfield Technology Partners and Georgian. The additional capital will enable Armis to continue with its 5 year strategy to build a multi-generational cybersecurity company, fuel strong organic product innovation and global go-to-market programs, while simultaneously taking advantage of game changing inorganic growth opportunities that may arise. This new round of funding comes after Armis recently announced it had surpassed the 200 USD million in Annual Recurring Revenue (ARR) mark, growing ARR by an additional $100 million in less than 18 months. The company is targeting a future IPO, and building a multi-generational company with the next major milestones being reaching the $500 Million ARR milestone along the journey to $1 billion ARR and beyond. Yevgeny Dibrov, CEO and Co-Founder of Armis, commented on the latest round of investments and the long-term potential they unlock: “My Co-founder Nadir Izrael and I are incredibly grateful for the support of General Catalyst and Alkeon Capital as well as Brookfield and Georgian. Their investment and belief in Armis’ future reflect the strength of our platform and the market need for a comprehensive Cyber Exposure Management platform – from asset management and Cyber Physical systems security to Remediation of vulnerabilities and issues from IT to cloud and the CI/CD pipeline. We remain confident that this is just the beginning for Armis, and we look forward to delivering on our vision of a safer digital world.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Joby Aviation, a company developing electric air taxis for commercial passenger service, announced today the pricing of its underwritten public offering of 40 Million shares of common stock at a public offering price of $5.05 per share. All of the shares of common stock are being offered by Joby. In addition, Joby has granted the underwriters a 30-day option to purchase up to an additional 6 Million shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, are expected to be $202 million. Joby currently intends to use the net proceeds that it will receive from the offering to fund its certification and manufacturing efforts, prepare for commercial operations and for general working capital and other general corporate purposes. The offering is expected to close on October 28, 2024, subject to satisfaction of customary closing conditions. Joby became the first eVTOL company to receive airworthiness approval from the U.S Air Force in December 2020. Flying our aircraft on-base and having access to government testing facilities provides an opportunity to develop our operational capabilities in advance of commercial launch. In 2023 Joby Aviation launched production at their Pilot Production Plant in Marina, CA, with the first aircraft rolling off the line in June to begin flight testing. Today, Joby Aviation's team of more than 1,500 passionate engineers, experts, and leaders, are all focused on bringing our pioneering vision to life. The company is developing a world-class manufacturing facility in Marina, CA and have offices and workshops in Santa Cruz, San Carlos, Washington, D.C., and Munich, Germany.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ With over 90% of modern applications built on open source, security has become more critical than ever. Traditional Software Composition Analysis (SCA) tools are struggling to keep up with the rising tide of supply chain attacks. Helping to tackle the problem, the #1 platform protecting software from supply chain attacks Socket, which is today announcing a $40M funding round, is laser-focused on proactively monitoring open source packages for malicious behaviors like backdoors, typo-squatting, and obfuscated code. The Socket Series B $40M funding round was led by Abstract Ventures, with participation from Elad Gil, Andreessen Horowitz (a16z), and a stellar group of angel investors. This latest round brings Socket’s total funding to $65M, fueling its mission to modernize security for open source software and build out its team across engineering, product, and design. In a statement Feross Aboukhadijeh, founder and CEO of Socket said, “We’ve seen incredible momentum over the past year.” “Our technology has made it possible for leading AI, B2B, and finance companies to switch from legacy SCA solutions like Snyk to Socket. We’re not just catching vulnerabilities — we’re detecting and blocking malicious threats in real time.” In the last 12 months, Socket has shipped groundbreaking features, including AI-powered threat detection for software dependencies in six programming language ecosystems which have enabled it to detect and block over 100 software supply chain attacks every week. This pace of innovation has been key to Socket’s rapid growth, with the company now protecting over 7,500 organizations and 300,000 GitHub repositories.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ bet365, an online sports betting company based in the United Kingdom, announced its new U.S. headquarters in Denver. The company’s office spans 120,000 square feet of newly renovated space at One Platte, 1701 Platte Street. The Colorado Office of Economic Development and International Trade supports this expansion, which includes a performance-based job growth incentive tax credit of up to $14 million over eight years. The headquarters will house operations in customer service, trading, software development, technology and additional roles in marketing, legal, finance and human resources. This move is set to significantly boost the local economy by creating nearly 1,000 new jobs. The company has plans to fill over 300 positions within the first year, leveraging Denver’s quality of life and culture of innovation to further its growth. The company currently employs more than 7,000 people across the globe. bet365, one of the worlds leading online gambling companies, is a driving force in the development of enterprise and Internet technology. The company's game changing In-Play betting product and comprehensive sports Live Streaming service covering 750,000 events a year are complemented by thier offerings in Casino, Poker, Games, and Bingo. Innovation continues to be their lifeblood and the company prides itself on the standards of customer service they deliver. Driven by a shared vision to be the best in the industry, a technology team in excess of 1,300 people work in house to provide the technological advances that enable bet365 to maintain their leadership position.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Everstage, the leading sales performance management software for enterprises worldwide, has announced that it has raised $30 Million in a Series-B funding round led by Eight Roads Ventures, with participation from existing investors, Elevation Capital and 3one4 Capital. This investment brings Everstage’s total funding to $45 million. Since its inception, Everstage has rapidly emerged as a leader in sales compensation, trusted by a growing list of several global Fortune 1000, publicly-listed companies and large enterprises including GrayTV, Wiley, Diligent, Trimble and Paychex. In a statement Siva Rajamani, Co-founder and CEO of Everstage said, “Our Series B is not just about growth; it’s about a long-term commitment to our customers." “In a market dominated by traditional vendors, we’ve questioned the status quo by offering a modern, strategic approach to sales performance management. This investment will allow us to double down on product innovation and elevate our customer experience with the highest standard of service, unlike anything the market has seen before.” Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage was born out of the founders’ firsthand experience with the challenges of sales compensation management.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Inspira Health has broken ground on a $240 million expansion that includes a new 150,000-square-foot 5-story wing that will extend out toward Rt. 55, an overbuild to the right of the hospital’s main entrance, the renovation of various clinical and non-clinical spaces on the first floor. The expansion will enable Inspira to advance and grow services at Mullica Hill in a number of areas, including intensive care, medical/surgical, maternal child health, observation, MRI and CT imaging and interventional radiology. It also will help the system’s graduate medical education, including a simulation lab for hospital residents. Inspira has approximately 16 nationally accredited specialties and more than 280 residents. The project will come in stages. The first phase of construction will include the new wing, the overbuild that will expand maternity services and an expansion of the parking lot. Renovation of the existing space will begin in the Fall of 2026. The new wing and overbuild are expected to be open for patients in the first quarter of 2027. Several areas of the new construction will be shelled out for future expansion projects. In addition to improving care, the expansion figures to have significant economic impact in the area. The project is expected to create more than 500 construction jobs – and more than 100 new permanent positions upon completion.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Picus Security, the security validation company, has announced it has closed a $45 million growth investment round led by Riverwood Capital with the participation of existing investor Earlybird Digital East Fund, bringing Picus’ total funds raised to $80 million. Picus has over 500 enterprise customers worldwide today, and this latest investment will advance Picus’ continued product innovation and expand customer success, sales, and marketing. Picus offers the only Adversarial Exposure Validation solution that brings together Automated Penetration Testing, Breach and Attack Simulation (BAS), and Rule Validation capabilities in an open platform. By correlating once siloed exposure data, Picus makes it simple for cybersecurity teams to prioritize, validate and fix critical gaps. As a first mover, Picus is leading this newly established category of Adversarial Exposure Validation. Once disjointed tool sets and data now fuel the Picus Exposure Data Fabric and Picus Risk Dashboard, providing a clearer picture of cyber risk. In a statement Alper Memis, Picus CEO and co-founder said, “Enterprises are looking for a more effective approach than their legacy vulnerability management practices and are planning on implementing new exposure management technologies in the next 12-18 months.” “We are excited to give security leaders the ability to bring together vulnerability, BAS, and attack surface data from different tool sets so they can assess and validate their exposures. As the pioneer of Breach and Attack Simulation, and now a leader in Adversarial Exposure Validation, we are very pleased to help our customers improve their security posture.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ California-based ApertureData, has now closed an oversubscribed seed round at $8.25M for a purpose-built database for multimodal AI. The funding round was led by TQ Ventures with participation from Westwave Capital, Interwoven Ventures, and a group of high-caliber angel investors. Existing investors also reaffirmed their commitment to ApertureData’s vision. In the race to adopt multimodal AI systems capable of processing, understanding, and generating text, videos, and images, enterprises are running into a “data crisis”. They have plenty of data assets to work with, but most of them remain closed off, or locked, in siloed systems. According to Google Cloud’s 2024 Data and AI Trends report, 66% of organizations say at least half of their enterprise data is unused. ApertureData is bridging a crucial gap in today’s data infrastructure by offering a purpose-built database that provides teams with a unified solution for managing and accessing complex multimodal datasets—perfectly tailored to meet the demands of AI workflows. In just a few clicks, they can access advanced graph-vector database capabilities, effortlessly scale their AI applications while eliminating the complexities of data infrastructure management. The company was founded by Vishakha Gupta (CEO) and Luis Remis (CTO), who collectively bring over a decade of experience from Intel Labs. Their firsthand experience with the complexities of visual data management led to the creation of ApertureDB.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Airbus Ventures announced its follow-on investment in Impulse Space, a leader in the development of in-space transportation services, which has just raised a $150 million Series B funding round. The funding, which follows a series of recent milestone moments for the company, will be used to further grow the Impulse team and to support the ongoing production of both their Helios and Mira vehicles. The Series B round brings Impulse’s total funding to date to $225 million. In a statement Tom Mueller, founder and CEO of Impulse Space said, “This funding is not only a testament to our team’s achievements over the past year but also a validation of our vision for the in-space transportation industry.” “We’re proud to have so many partners who understand and support the importance of our work to accelerate humanity’s future in space by unlocking reliable, affordable, and efficient access to any orbit.” Operations are based out of Impulse’s 60,000-square-foot headquarters in Redondo Beach, California, where the company handles the majority of vehicle design, manufacturing, testing, and assembly under one roof. Impulse also operates facilities at the Mojave Air and Space Port, where additional testing work is underway for the Helios Deneb engine.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Augmodo, the only real-time inventory and task tracker using wearable SmartBadges™ to create live 3D store maps, announced today it raised $5.3 million in seed funding. The round was led by Lerer Hippeau, with participation from Dunnhumby Ventures, NewFare Partners and Simple Food Ventures, bringing together a broad range of strategic investors who share Augmodo’s vision for the next generation of retail. Augmodo’s proprietary SmartBadges™ are powered by a Spatial AI assistant for store associates, which recommends actions and tasks to increase efficiencies, including restocking shelves, placing orders and improving compliance, saving stores time and money and improving retailer, associate, brand and shopper experiences. Retailers lose $1.75 trillion in revenue worldwide due to out-of-stocks, preventable returns and overstocks and Augmodo’s tech will help curtail the 11.7% of lost revenue from store inefficiencies and data disconnects. In a statement Ross Finman, Founder and CEO at Augmodo said, “Artificial Intelligence is already changing retail, and new advances in AR and spatial computing are about to completely transform the physical world of shopping as we know it.” “We’re deploying our technology across the world’s most innovative retailers to provide their associates with Spatial AI assistants, empowering their workforces to drive revenue and improve shopping experiences for all parties, making store associates even more valuable to their employers.” Augmodo is the only real-time inventory and task tracker that uses wearable SmartBadge™ on retail associates, creating live 3D store maps with cutting-edge tech to enhance retail experiences and cut costs for retailers, brands and consumers. The spatial AI assistant builds better, more accurate shelf inventory and creates planograms updated dozens of times daily. The Augmodo system is easy to scale, 100X cheaper than alternatives and requires no operational changes.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Philip Morris International has announced an expansion for Swedish Match, creating 450 new jobs with a $232 million investment. The Owensboro facility produces Swedish Match ZYN nicotine pouches, and the expanded production will allow the company to meet growing global demand from consumers for smoke-free products. Construction on the expanded facility has already begun with completion expected by the second quarter of 2025. The investment also will facilitate the move from a 24-hour, five days-per-week schedule to 24/7 production later this year. New jobs created at the location will include engineers, production staff, technicians and quality control. PMI is headquartered in Stamford, Connecticut, and its U.S. affiliates have more than 2,300 employees. Since 2008, PMI has invested $12.5 billion globally to develop, scientifically substantiate and commercialize innovative smoke-free products for legal-age nicotine consumers. PMI’s U.S. affiliates operate smoke-free product manufacturing facilities including the Swedish Match North America Owensboro, which opened in 1973 and employs around 1,100 people. The company also operates a facility in Wilson, North Carolina, that produces HEETS, the consumable for the IQOS heated tobacco device. Swedish Match North America has a regional office in Richmond, Virginia. Company leadership noted a projected $277 million annual regional economic impact associated with the project. The estimate is provided from an economic impact analysis study conducted by Econsult Solutions, a Philadelphia-based economics consulting firm.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ White River Energetics (WRE), an ammunition primer and energetics manufacturer, is expanding its facility in Des Arc, creating 100 new jobs. The company is investing approximately $10 million to expand its existing facility. Additionally, WRE will also make a $60 million dollar investment to build a single base smokeless propellant factory. There is a worldwide shortage of smokeless propellant that is affecting munitions availability globally. The expansion and new smokeless propellant facility will create 100 total new jobs at the White River Energetics campus in Des Arc and represents an investment of more than $70 million. The expansion will enable WRE to scale its energetics and primer manufacturing to meet customer demand as well as develop new products. WRE supports domestic and international clients through the manufacture and distribution of energetics for various ammunition types. In a statement Dan Powers, President and CEO of D&M Holding Company said, “This smokeless propellant factory will enable us to supply propellant to the global shortage that is affecting munitions availability.” “We are proud to have chosen Des Arc for this investment and look forward to adding the additional jobs for the community.” White River Energetics is a newly formed and wholly owned subsidiary of D&M Holding Company. WRE has built a new facility in Des Arc, AR with the objective of manufacturing energetics for the ammunition industry. WRE operates on a foundation of proven processes and is regularly evaluating and implementing new processes and automation to make higher quality and safer energetics.
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