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Source: http://go.intelligence360.io/ and https://intelligence360.news/ Pepsi Beverages Sales LLC, a wholly owned subsidiary of PepsiCo, plans to invest $62 million establish an upgraded facility in Claymont. The new site, located in the same county as the previous Wilmington facility, will retain 216 existing positions and create 77 additional jobs in the state, playing a key role in expanding the entity’s Northeast warehousing capabilities. Located at 4145 Philadelphia Pike, the facility is part of the redeveloped Claymont Steel Mill property. PepsiCo will complete multi-million-dollar renovations to the leased 359,000-square-foot space and make significant investments in new equipment to enhance regional operations and support growing demand. In addition, the site will serve as a key hub for supporting manufacturing sites across the region. Delaware Prosperity Partnership (DPP) collaborated with PepsiCo to secure the Claymont location and connect the company with state resources. On Monday, the state Council on Development Finance (CDF) approved up to $2,887,000 in grant funding from the Delaware Strategic Fund. These grants, contingent on PepsiCo meeting commitments for job retention, job creation and capital investment, underscore Delaware’s proactive support for businesses investing in the state. PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Source: http://go.intelligence360.io/ and https://intelligence360.news/ Howmet Aerospace Inc., which manufactures jet engine and industrial gas turbine components, is working to build a ceramic core production building on property it already owns in Whitehall. The $108 million facility would include 107,000 square feet of manufacturing space and 4,500 square feet of office space. the Michigan Strategic Fund board has approved a request for a $5.1 million Michigan Business Development Program Grant and a State Essential Services Assessment exemption, worth up to $1.6 million. The facility is expected to bring up to 300 new jobs to Muskegon County. Howmet, which launched operations in Whitehall in 1952 and has nine plants in the city and currently employs about 2,440 people in Whitehall. Howmet Aerospace is based in Pittsburgh, Pennsylvania, and has over 23,000 employees worldwide. Some of its leading customers include Pratt & Whitney, Airbus, Lockheed Martin and Boeing. In a statement, Ben Squires, Howmet Aerospace director of government affairs said, “Our leadership had to consider multiple factors when making an investment decision of such a substantial scale.” Support of the Michigan Economic Development Corporation, the city of Whitehall and others helped seal the deal for the company’s expansion in West Michigan. The city of Whitehall is also expected to approve a property tax cut for the project.
Source: http://go.intelligence360.io/ and https://intelligence360.news/ A2 Biotherapeutics, has announced the closing of its $80 million Series C financing round, supported by a syndicate of investors that includes The Column Group and Samsara BioCapital. Proceeds will fund the company’s three clinical development programs and advancement of its pipeline of CAR-T cell therapies based on its proprietary Tmod platform technology. In a statement Jim Robinson, chief executive officer of A2 Bio said, “We are excited by the initial clinical data from our lead programs, which we believe validates our proprietary logic-gate technology approach to solid tumor cancers.” “This funding will enable us to continue ongoing clinical development of our CAR-T cell therapies as well as fund the potential next phase of development.” A2 Biotherapeutics is a clinical-stage biotech company developing first-in-class logic-gated cell therapies to address the high unmet need in cancers. A2 Bio invented the proprietary Tmod™ cell therapy platform to tackle the fundamental challenge in cancer treatment—the ability of cancer medicines to distinguish between tumor and normal cells. A2 Biotherapeutics, established in 2018, is a fully integrated discovery, development and manufacturing company based in Agoura Hills, Calif. A2 Bio plans to direct the Series C funds to support the company’s three clinical studies, as well as to advance preclinical programs using its Tmod™ platform for potential clinical targets representing significant unmet needs in cancer and beyond.
Source: http://go.intelligence360.io/ and https://intelligence360.news/ Boeing (NYSE:BA) today announced it plans to expand its operations in Charleston County. The company plans to invest $1 billion in infrastructure upgrades at its existing site and create 500 new jobs over the next five years. For more than a decade, Boeing South Carolina (BSC) has been the home of the full 787 Dreamliner production cycle and fabricates, assembles, and delivers, the 787-8, 787-9 and 787-10 to customers globally. The company established operations in South Carolina in 2009 and currently employs more than 7,800 people across its Airport and North Campuses in North Charleston, and its West Campus in Orangeburg. Boeing acquired the operations in Orangeburg, located at 174 Millennium Drive, earlier this year, though those facilities will not be affected by the expansion plans. Boeing will expand both of its North Charleston campuses, located at 5400 International Blvd. and 9775 Patriot Blvd., to support increased 787 Dreamliner production targets and potential future rate increases driven by market demand. The 787 Dreamliner program plans to increase to a rate of 10 airplanes per month by 2026. Operations are expected to be online in early 2027. In a statement Scott Stocker, Boeing Vice President and General Manager of the 787 Program said, “Since the creation of Boeing South Carolina in 2009, we’ve marked many important milestones – including consolidating 787 Dreamliner production to South Carolina. I’m thrilled for this next phase of growth, which is made possible by our incredible teammates and the confidence our customers have in our airplanes. This decision reflects Boeing’s commitment to the workforce, the 787 program and the community. We are building a legacy at BSC, for ourselves and for future generations in the Palmetto State.” Boeing continues to lead in technology and innovation, deliver for its customers, and invest in its people and future growth. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Chargezoom, a leading platform for AI-powered billing and integrated payments, announced today it has raised $11.5 million in Series A funding, led by Salt Lake City’s Kickstart Fund. This funding marks Chargezoom’s official arrival on the Utah tech scene, setting the stage for the company to scale rapidly and efficiently with the support of Silicon Slopes’ top early-stage venture fund. This round is another key milestone in Chargezoom’s rapid growth. Previously, the company closed a $2 million Seed round in July 2021. This investment helped Chargezoom simplify accounts receivable for businesses that need more efficient, agile financial processes. Since its Seed funding, Chargezoom has grown by 3,972%. Chargezoom is transforming the way businesses handle accounts receivables. Powered by an extensive proprietary dataset and using cutting-edge AI and machine learning, Chargezoom makes invoicing, cash flow, and customer payments seamless and autonomous. No manual work. No wasted time. Just smarter, faster AR that drives financial health and frees businesses to focus on growth. In a statement Matt Dubois, founder and CEO of Chargezoom said, “We’re thrilled to be building Chargezoom right here in Utah.” “Not only does this validate our vision and provide critical resources, we’re getting an unbeatable strategic partner in Alex Soffe and the team at Kickstart.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ ŌURA, the company behind Oura Ring, the world’s leading smart ring, today announced the completion of a $200 million Series D funding round. Fidelity Management & Research Company and Dexcom, the global leader in glucose biosensing, participated in the round. The investment raises the company’s valuation to $5.2 billion. This financing reflects ŌURA’s momentum in building and leading the smart ring category and the shared belief among its partners and investors that there are substantial growth opportunities ahead. This new capital will enable ŌURA to expand its product offerings, fuel further investment in product, science, and healthcare innovation, including AI, advance global expansion efforts, and explore additional acquisitions to accelerate growth. In a statement Tom Hale, ŌURA chief executive officer said, “As we continue to drive momentum and growth, we are bolstered by the additional support of these investors.” “We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that ŌURA has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring.” This funding milestone follows a period of marked growth for ŌURA. The company recently surpassed 2.5 million rings sold and has seen its member base and revenue more than double over the past year. ŌURA delivers personalized health data, insights, and daily guidance with Oura Ring, the leading smart ring that helps you live healthier, longer. Guided by a mission of changing the healthcare paradigm from sick care to preventative health, ŌURA makes wellness and recovery a daily practice through sleep, activity, readiness, stress, resilience, women’s health, and heart health. Millions of Oura Members around the world use Oura Ring as a personalized health companion that meets them where they are.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Xaira Therapeutics, an AI-driven biotechnology startup that emerged earlier this year with a $1 billion funding round, continues to demonstrate its ambitions and staying power. The firm is bolstering its leadership roster while announcing a planned planned relocation to the Gateway of Pacific III campus in South San Francisco. Xaira aims to engineer the drug discovery and development process through the end-to-end application of emerging AI technologies — albeit with higher-profile leadership and funding than other techbio firms. Xaira’s $1 billion funding round represents one of the largest private healthcare investments in 2024. Xaira’s backers continue to bet big on the company’s ability to shorten and improve the drug discovery timeline. This confidence is reflected in the caliber of Xaira’s board, which includes former FDA Commissioner Scott Gottlieb, Nobel laureate Carolyn Bertozzi, and ex-J&J CEO Alex Gorsky. Investor sentiment remains robust even as the broader landscape has grown more cautious. Xaira’s decision to relocate to 73,075 square feet at the Gateway of Pacific III campus situates the company at the heart of a prominent biotech ecosystem. Proximity to fellow innovators, academic institutions, and strategic partners in South San Francisco ensures that Xaira can access top-tier talent and collaborate on projects featuring emerging tech. The new facilities support closer integration between its Seattle-based teams—where foundational AI modeling occurs—and the Bay Area site, which houses expanded experimental capabilities and interdisciplinary collaborations.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Park Place Dealerships, a part of Asbury Automotive Group has successfully completed the purchase of 15 acres of land in Dallas Texas from Raytheon on December 4th 2024. Known for its best-in-class client service, Park Place is expected to develop a state-of-the-art Porsche dealership on the newly purchased property, providing its clients with the luxury experience synonymous with Park Place and Porsche. Demolition is expected to begin early 2025, with construction scheduled to conclude Q2 2027. In addition to the state-of-the-art Porsche dealership, this land purchase paves the way for Park Place to build a state-of-the-art Volvo service center beside the current Park Place Volvo dealership at the corner of Lemmon Avenue and Inwood Road. This update is expected to bring cutting-edge technology and a seamless experience to Volvo clients, offering a combined showroom and service experience conveniently on one property. In a statement Tony Carimi Area Vice President of Park Place Dealerships said, “Dallas has a deep appreciation for luxury vehicles, and at Park Place, we are dedicated to delivering an exceptional luxury experience to our clients." "For 37 years, Park Place has earned its reputation for offering a truly one-of-a-kind client experience, attracting customers from across the nation. This prime location, just steps from our current dealerships and minutes from Love Field, ensures Porsche and Volvo enthusiasts will have access to the very best these brands have to offer.” Park Place Dealerships was founded in 1987 and has been engaged in the community through its support of the arts, medical research, children’s advocacy, and education. Park Place employs more than 1,400 members and operates nine full-service dealerships representing luxury brands including Lexus, Mercedes-Benz, Porsche, Volvo, Acura, and Land Rover. Park Place BodyWerks Collision Centers in Dallas, Fort Worth, and Plano, and the Park Place Auto Auction, round out the company’s offerings. Park Place was acquired in 2020 by Asbury Automotive Group, Inc., a Fortune 500 company headquartered in Duluth, GA.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Carmen Schools of Science & Technology kicked off construction for a new $55 million high school, marking the first time the charter school network will have its building independent of Milwaukee Public Schools. The new school is going up at the corner of 20th Street and Oklahoma Avenue, on Milwaukee's south side. A former Medical Arts Pavilion currently sits on the property but will be razed, making room for the new school. This $55 million project isn't funded by taxpayer dollars. In a statement Aaron Lippman, CEO of Carmen Schools said, "Finding a place that's close by, that has enough acreage to accommodate all we want to make happen for our kids, took about ten years." Expected to open in time for the 2026-27 school year, the new campus will unite students and staff from the existing Carmen South and Carmen Southeast high schools, which operate out of Milwaukee Public Schools' ALBA School and Pulaski High School. Those buildings are about three miles apart from each other. Carmen Schools is a public charter school network that operates within the MPS district and until now, exclusively out of MPS buildings. Administrators say the new high school will offer brand new learning, arts, and athletic spaces -- along with career development opportunities and gathering places for the community. The Carmen Charter Schools Network offers K-12 education and has six schools across Milwaukee that serve more than 2,000 students. Enrollment is open to the public, but some schools do have waiting lists. Administrators say when a waiting list is involved, admission is granted through a lottery system. Carmen touts high achieving students, with 99 percent of their most recent graduating class headed to college, and $28.7 million was awarded to their students in scholarships.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ The Chicago Department of Aviation has signed one of the biggest local office leases of the year outside of downtown, a deal that provides new workspace for contractors involved with the modernization of O'Hare International Airport. The department has leased 99,421 square feet at 8420 W. Bryn Mawr Ave., one of three buildings at the 637,000-square-foot U.S. Cellular Plaza complex on the city's Northwest Side, according to a statement from the property's leasing team. The CDA will relocate hundreds of employees across more than a dozen contractors to the new space from the department's Aviation Administration Building at 10510 W. Zemke Road on the edge of the airport grounds. A CDA spokesman said in a statement that the department will sublease five floors in the 11-story building through the end of next year from wireless carrier U.S. Cellular — which houses its headquarters next door at 8410 W. Bryn Mawr Ave. — and will continue that lease directly with the building's owner through 2033. The CDA statement said the original size for the lease, 79,000 square feet, increased in recent months after the department received updated headcounts from O'Hare 21 consultants. A previous estimate said the department would relocate 330 employees from 18 different contractors to the new building. The mission of the Chicago Department of Aviation (CDA) is to enhance the economy and connectivity of Chicago through the accountable administration of O'Hare and Midway airports. The CDA is continually committed to fostering economic growth and ensuring that its airports are safe, sustainable, accessible, and reflect the city's diverse and unique character.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ According to state and local development sources, Energy management and automation company Schneider Electric plans to expand its operations in Butler County, Ohio. The $25 million project is expected to create 250 jobs. Schneider Electric, a French multinational corporation with $35.9 billion in revenue last year, will expand an existing facility in the city of Fairfield and build a new facility in Fairfield Township as part of its expansion plans. The investment will include the construction of a new 446,000-square-foot facility at the Fairfield Logistics Center as well as the expansion of an existing facility. Schneider Electric provides a range of solutions for low-voltage electric distribution, including circuit breakers, buses, enclosures and switchboards tailored for industrial equipment manufacturers, life sciences, and chemical industries. Schneider has been leasing its 225,000-square-foot facility since 2018. The annual payroll is about $9.25 million annually. With the additional employees, payroll is expected to exceed $15 million. Under the agreement, the city will provide an annual grant of up to 36 percent of the new income tax collected from the increased payroll tax at the site for eight years. As part of the program, Schneider agreed to extend the lease of its facility by 10 years and must create 100 jobs within three years of completion of the building improvements and machinery/equipment installation. Those improvements should be completed by the end of 2025.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Mitsubishi Electric Power Products is investing at least $86 million to construct a new advanced switchgear factory and expand its existing power electronics business in the Pittsburgh region, will create 200 new jobs and retain 806 existing jobs. The company received a funding proposal from the Department of Community and Economic Development for a $4 million Redevelopment Assistance Capital Program grant and a $2.75 million Pennsylvania First grant. The company was also encouraged to apply for a tax deduction through the Qualified Manufacturing Innovation and Reinvestment Deduction program. Headquartered in Warrendale, Pennsylvania, Mitsubishi Electric Power Products is a wholly owned subsidiary of Mitsubishi Electric Corporation of Japan and serves the North American power systems, data center, rail transportation, and large visual display markets with electrical and electronic products, systems, solutions, and services. In a statement Tricia Breeger, President and CEO of Mitsubishi Electric Power Products said, “By investing in a state-of-the-art switchgear factory, we will serve our customers, and we will significantly advance the production of critical components that strengthen both distribution and transmission grids while driving new technologies forward in support of the nation’s decarbonization initiatives.” “Our switchgear and power electronics solutions are essential for meeting the growing demand for electricity, from powering homes and businesses to supporting the rapid expansion of data centers.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Over the past six months, generative voice models have begun to achieve human-level performance, in some cases even passing “the voice Turing test.” This advancement, coupled with the accessibility of voice models on consumer mobile devices, has spurred growing interest among enterprises aiming to automate business-to-customer interactions. However, deploying and scaling voice agents can require months, if not years, of specialized engineering. Helping enterprises over this challenge, Vapi, a leading developer platform for deploying Voice AI agents, announced today that it has raised $20 million in Series A funding, led by Bessemer Venture Partners with participation from Abstract Ventures, AI Grant, Y Combinator, Saga Ventures, and Michael Ovitz. This investment will enable the company to expand its engineering team, scale its infrastructure, and reach new enterprise customers. Founded in 2023 by Jordan Dearsley (CEO) and Nikhil Gupta (CTO), Vapi is on a mission to “bend the arc of technology back to the human voice,” Vapi is building the infrastructure necessary to enable this voice-first future. Through its flexible API and developer platform, customers can scale to handle millions of calls using voice agents in a couple of weeks. In a statement Jordan Dearsley, CEO of Vapi said, “Consumer-facing companies run on voice. To scale their revenue, they need to scale their voice operations. But, people don’t scale. You can try using an IVR (interactive-voice responses) system, but they sound robotic, and people just smash zero until they can talk to a person. With generative voice models, it’s flexible like a human and it can scale to millions of calls.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Eon, the next-generation cloud backup platform, announced today that it has raised a $70 million Series C funding round led by BOND, growing its valuation to $1.4 billion. Several return investors joined the round, including Sequoia Capital, Greenoaks, and Lightspeed Venture Partners. Eon’s novel cloud backup posture management platform transforms data backups from a manual and cumbersome process into a simple and automated solution, enabling enterprises to unlock the true potential of their backed-up data. Founded in January 2024, Eon has already filed dozens of patents for cloud storage and data management technologies and raised $200 million in funding. Companies are spending more than ever in the cloud, with the global annual spend expected to reach $679 billion by the end of 2024. Enterprises from every industry invest millions of dollars a year on cloud backups for both business and compliance needs. Despite its importance, cloud backup operations remain a challenge, and currently, backups offer little tangible benefit or value. Requiring error-prone manual work, companies regularly find themselves under or over-backed up. Even when backed up properly, backups remain difficult to access, manage, and operationalize, leaving enterprises in risky positions. In a statement Ofir Ehrlich, Co-Founder and CEO of Eon said, “With Eon we set out to put an end to backup challenges for enterprises by providing instant access to all backed-up cloud data. This fundamentally changes the essence of backups by making them instrumental to businesses for the first time.” “During our conversations with Jay and the BOND team it became clear how valuable they would be as a partner to Eon as we work to reinvent cloud backup management. BOND’s track record of investing in industry-defining companies speaks for itself, and we are excited to have them join us”.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Halcyon, a leading platform designed from day one to defeat ransomware, today announced it has closed $100M in Series C funding led by Evolution Equity Partners with participation from Bain Capital Ventures (BCV), SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures and existing investors. The round brings the total amount raised to $190M and values the company at $1B. Evolution Managing Partner Richard Seewald is joining the Halcyon Board of Directors. The funding will be used to accelerate the company’s growth and strengthen its position as the leading anti-ransomware platform provider. Ransomware operators raked in more than $1B in payments in 2023 and the average cost of recovering from a ransomware event rose to $4.45M. The explosive growth of the ransomware economy represents a breakthrough phenomenon that impacts not only companies but people as they go about their daily lives. Businesses risk having their systems taken down and services disrupted, cratering revenue forecasts, as well as having their data stolen leading to extortion and damage to brand reputation. And it is not only businesses who pay the price – customers lose sensitive data, can’t access critical services, and even have their lives put at risk. Halcyon is the only organization devoted specifically to defeating ransomware through a unique combination of prevention and resilience by way of a proprietary technology that captures encryption keys and enables organizations to recover from attacks in minutes without ever paying ransoms. In a statement Jon Miller, CEO and Co-Founder, Halcyon said, “Ransomware is unique in cybercrime because of its tangible impact on everyday people.” “When patients can’t get healthcare, workers can’t do their jobs, and the most vulnerable among us are directly extorted because their most personal information was exfiltrated in a ransomware attack, we are talking about attacks that are unlike any we have seen before. Ransomware represents the most prescient cybersecurity threat to organizations large and small, and now the threat has expanded to include the extortion of individuals whose sensitive data has been compromised. Halcyon is the only security provider that can effectively prevent and recover from ransomware attacks as well as protect companies and individuals from data extortion schemes.”
Source: http://www.intelligence360.io/ and https://intelligence360.news/ New York Life has signed a new lease to take 43,000 square feet at The Vision on Fifteenth in Pittsburgh Pennsylvania. The office space will house New York Life's Group Benefit Solutions division, a subsidiary of the insurance giant expected to move from space at 2000 Park Ln. in North Fayette. New York Life Insurance Company is the third-largest life insurance company and the largest mutual life insurance company in the United States, and is ranked #71 on the 2023 Fortune 500 list of the largest U.S. corporations by total revenue. In 2023, NYLIC achieved the best possible ratings by the four independent rating companies (Standard & Poor’s, AM Best, Moody’s and Fitch Ratings). Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. As of 2016, New York Life Insurance Company was the country’s third-largest life insurance company. A mutual insurance company, New York Life is owned by its policyholders and has no outside shareholders. As a mutual, New York Life distributes a portion of its earnings to eligible policyholders as annual dividends. As of 2016, the company has paid a dividend every year since 1854. Through Seguros Monterrey New York Life, the company offers insurance in Mexico. New York Life’s core product is whole life insurance, a type of life insurance offering lifelong protection that builds cash value over time. New York Life also sells term life insurance, universal life insurance, variable universal life insurance, long-term care insurance, annuities and disability insurance. The company operates New York Life Direct, selling direct-to-consumer policies, and is the exclusive life insurance partner of the AARP.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Fifth Third Bank is planning to open five new financial center branches in Birmingham, and 10 in the Huntsville area between now and 2028. In a statement, Randy Koporc, regional president for Fifth Third Bank in Atlanta said, Across all 15 planned financial centers in Alabama, the bank will likely make 50 to 80 hires for in-branch roles, asset management roles, mortgage delivery roles and support roles. “To support the efforts, we’ll run our full play, which is branching, private banking, mortgage, commercial, large corporate.” The bank has already secured three locations and they will most likely open early in 2026. Fifth Third Bank engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. The Consumer and Small Banking segment provides a range of deposit and loan products to individuals and small businesses; home equity loans and lines of credit; credit cards; and cash management services. This segment also engages in the residential mortgage that include origination, retention and servicing of residential mortgage loans, sales and securitizations of loans. The Wealth & Asset Management segment provides various wealth management services for individuals, companies, and not-for-profit organizations. It offers retail brokerage services to individual clients; and broker dealer services to the institutional marketplace. This segment also provides wealth planning, investment management, banking, insurance, and trust and estate services; and advisory services for institutional clients comprising middle market businesses, non-profits, states, and municipalities. The company was founded in 1858 and is headquartered in Cincinnati, Ohio.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Shiru, the pioneer in AI-powered ingredient discovery, has secured a $16 million investment round as it leads a revolution in how ingredients are discovered and developed across multiple industries. Shiru’s flagship platform, ProteinDiscovery.ai, hosts the world’s largest database of natural proteins from plants and microbes. The AI-driven platform enables corporate partners in food, personal care, agriculture and advanced materials to swiftly identify and test highly functional, natural ingredients. The results include dramatically reduced R&D and product development costs, accelerated time to market and high functional capabilities from nature-identical products. In a statement Dr. Jasmin Hume, Founder and CEO of Shiru said, “AI-powered discovery isn’t only the future of ingredient innovation – it’s here today, and we’re eager to expand our capabilities across flavor, skincare and agriculture.” “Our technology dramatically reduces development timelines and costs, empowering R&D teams to revolutionize products, categories and industries through our platform, enabling valuable innovation and competitive advantage.” “While we’re starting with proteins, our vision extends far beyond,” Hume added. “ProteinDiscovery.ai is just the beginning. We’re building a comprehensive platform that will revolutionize ingredient discovery across multiple molecular classes, driving innovation that benefits both industry and consumers.” The round, bringing Shiru’s total funding to $36 million, was led by longtime investor S2G Ventures, with participation from CPT Capital, Lux Capital, Nourish Ventures, and Meach Cove Capital. This investment will fuel Shiru’s ambitious growth plans, expanding its ingredient portfolio and enhancing ProteinDiscovery.ai through new commercial partnerships and expanded offerings.
Source: http://www.intelligence360.io/ and https://intelligence360.news/ Sofidel will make a $200 million expansion in Duluth, supported by $5 million in business expansion funding from the State of Minnesota. The expansion will create at least 160 new jobs, tripling the company’s current workforce size. Funding comes from the Minnesota Department of Employment and Economic Development’s (DEED) Job Creation Fund (JCF) and Minnesota Investment Fund (MIF). The JCF provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. The MIF provides financing to help add new workers and retain high-quality jobs – with a focus on industrial, manufacturing, and technology-related industries – increasing the local and state tax base and improving Minnesota's economic vitality. Sofidel will expand their existing facility into an integrated, state-of-the-art production plant where raw materials are processed, manufactured, and packaged into finished goods such as paper towels, bath tissues, and napkins. The company will construct an automated warehouse for product storage and distribution. Construction will take place in phases beginning in late 2024 and continuing through late 2026. The completed project size will be nearly 600,000 square feet. In a statement Simone Giacomelli, Integration Manager at Sofidel said, This expansion is a testament to our long-term commitment to growth and innovation in the North American market. In Duluth, we found a favorable operating environment, with a skilled and dedicated workforce, and strong partnerships with local institutions and the community. These factors encouraged us to further invest in this facility,” “We are also grateful for the tremendous support from the State of Minnesota and the City of Duluth, which has been essential in bringing this project to life."
Source: http://www.intelligence360.io/ and https://intelligence360.news/ According to state and local development sources, JPMorgan Chase plans to invest $3.1 Million to build out 3,329 square feet of new space in Georgetown Texas. The project, designed by Dallas based Rouch Architects, consists of New construction of a retail banking center with drive-thru ATM, and is located about 30 miles north of downtown Austin, at the north east corner of Ronald Reagan Blvd. & RR 2238 in Georgetown. The Chase Bank Parmer Ranch facility is expected to be completed in late 2025 or early 2026. JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services. For over 200 years, JPMorgan Chase & Co has provided innovative financial solutions for consumers, small businesses, corporations, governments and institutions around the world. Today, were a leading global financial services firm with operations servicing clients in more than 100 countries. Whether we are serving customers, helping small businesses, or putting our skills to work with partners, we strive to identify issues and propose solutions that will propel the future and strengthen both our clients and our communities. The company also provides ATM, online and mobile, and telephone banking services. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.
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