Connect with us

News

Six companies enter BioInnovation Institute's Venture House program receiving additional financial support

Published

on

BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, today announces that six companies are to receive additional financial support through its Venture House program, created to further support former Venture Lab companies through their next phase of growth.

The Venture House program provides exclusive follow-on funding in the form of a founder-friendly convertible loan of EUR 1.3M to selected companies that have already participated in the 12-month Venture Lab program created to support business acceleration, scientific and team development. As part of the Venture House program, companies will also take advantage of BII’s extensive network to help establish a strong board, chairman and key scientific advisors. This is the third cohort of companies to be accepted into the Venture House program since its launch in August 2022.

To support product innovation and ecosystem growth, the program consists of four executive sprints, each focused on a key development area to help mature the project and ultimately attract further funding. The first sprint focuses on helping companies develop an operational plan, while the following sprints provide training and support in fundraising, partnership, and leadership.

Bobby Soni, Chief Business Officer at BioInnovation Institute, said: “These six companies have shown promise during their time in the Venture Lab program and collectively align with BII’s focus on providing solutions to benefit people and society. On behalf of the team at BII, we look forward to continuing to work alongside these innovative companies as they mature and attract funding.”

All six companies have partaken in BII’s Venture Lab program that supports business acceleration, scientific development and team development in which each company received a risk-free convertible loan of EUR 500,000 plus access to labs and offices at the BII’s entrepreneurial ecosystem in the center of Copenhagen. Thus, after entering the Venture House program they have received in total EUR 1.8M. The new companies the BII has accepted into the Venture House program are:

  • TriptoBIO is developing a high-value plant compound production platform focused on triptolide to liberate the world from rat poison.
  • Agrobiomics develops transformative natural solutions, with a vision of securing sustainable food supply, that make agriculture resilient to climate change. The Company’s solutions are affordable and highly potent, thereby enabling growers globally to increase yields of crops affected by abiotic stress such as salinity and drought.
  • MATR Foods is producing delicious new plant food from the side streams of the current food industry.
  • HHC Medical is building a platform technology for non-viral delivery of genetic therapies. The approach will enable genetic therapies to be delivered very specifically to a target volume anywhere in the body.
  • Solid Therapeutics is developing novel cancer therapeutics with dual performance targeting cancer cells and immune cells to treat solid tumors.
  • FimmCyte is dedicated to developing tailored women’s health therapeutics. FimmCyte’s lead program, FMC2, is a first-in-class disease-modifying treatment for endometriosis. FimmCyte is jointly supported by BII and Ferring Pharmaceuticals through a strategic collaboration.

Since its inception in 2018, BII has supported 87 start-ups and projects with EUR 85 million alongside the venture capital, industry and business expertise it provides to help them accelerate to the next level. In total, BII’s start-ups have raised over EUR 424 million in external funding from both local and international investors. Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.

Read more about the Venture House program here.

About the BioInnovation Institute Foundation:

At BioInnovation Institute (BII), we accelerate world-class life science start-up innovation for the benefit of people and society. As a non-profit institute, BII operates the company creation programs, Bio Studio, Venture Lab and Venture House, to support life science start-ups with knowledge, network, infrastructure and funding of up to 3M EUR per projects and 1,8 M EUR per start-up. With our expertise, network, funding, and infrastructure, we empower startups to succeed and believe in the transformative power of life science innovation.

News

Internet Service Provider Omni Fiber announces $150 Million in financing from Stonepeak Credit to continue rapid expansion in the Midwest

Published

on

Omni Fiber, a regional Fiber Internet Service Provider with operations in over 25 markets in Ohio and Pennsylvania backed by Oak Hill Capital, today announced the closing of $150 million in debt financing from Stonepeak Credit.

Founded in 2022 by management and Oak Hill, Omni Fiber has invested over $250 million in building an XGS-PON fiber network and is on track to reach approximately 200,000 locations by the end of the year. The financing from Stonepeak Credit will fund rapid expansion into more communities in Ohio, Pennsylvania, and Michigan.

Omni Fiber launched its service in late 2022 and now serves residential and business customers in over 25 small and mid-size communities. Construction is in progress in over 15 additional communities, and network design and engineering activities are ongoing in many others.

Omni Fiber’s founding CEO, Darrick Zucco said, “We are excited about the additional opportunities this financing enables. The company’s network expansion not only brings choice to communities with limited options for reliable, ultra-high-speed Internet service but also creates hundreds of new jobs at Omni Fiber and local contractors. The halo effect on economic development for the impacted towns is significant.”

Scott Baker, Managing Partner at Oak Hill Capital, added “It has been a uniquely rewarding experience to partner with Darrick and his talented leadership team. We are thrilled by the rapid growth of Omni Fiber and are committed to continuing investing behind the team as they expand their fiber services to underserved markets in Ohio, Pennsylvania, and Michigan.”

Ryan Roberge, Senior Managing Director at Stonepeak, added “We are proud to partner with Omni Fiber and Oak Hill Capital to support Omni’s next phase of growth. Our team was thoroughly impressed with Darrick and the rest of Omni’s management team and their plans to expand Omni’s next generation fiber network to additional communities in the Midwest. We look forward to continuing our partnership with Omni and Oak Hill Capital over the long-term.”

With the additional funding, Omni Fiber expects to accelerate the pace of expansion and announce more communities in the next few months.

About Omni Fiber
Omni Fiber was founded in 2022 and is backed by Oak Hill Capital, one of the largest investment firms in the telecommunications industry. Based in Ohio, Omni Fiber is led by a leadership team with 100+ years of combined industry experience and provides 100% fiber-optic broadband Internet, TV, and Phone services to residential and business customers in the Midwestern United States. Omni Fiber offers symmetrical speeds of up to 10 Gbps, no hidden fees, no data caps, Premium Wi-Fi included, local customer service, and competitive pricing.

About Oak Hill Capital
Oak Hill is a longstanding private equity firm focused on the North America middle-market. Oak Hill applies a specialized, theme-based approach to investing in the following dedicated industry sectors: Media & Communications, Industrials, Services, and Consumer. The Firm implements a highly systematic approach to theme development, proactive origination, and value creation in partnership with management to build franchises of lasting value. Over the past 35+ years, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate.

Stonepeak is a sponsor of private equity and credit investment vehicles. Stonepeak Credit provides credit solutions to infrastructure sponsors and companies.

Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney.

Continue Reading

News

Schoox Partners with learning content aggregator Go1 to Offer Content for Every Learning Style

Published

on

schoox partners with go1

Schoox customers gain access to Go1’s diverse content formats available in 14 languages.

Learning management and talent development software provider Schoox announced a new partnership with Go1, the most diverse learning content aggregator, to seamlessly integrate Go1’s library within the Schoox platform. Meticulously curated by a team of experts, Go1’s learning content features courses from more than 250 industry-leading providers, bolstering Schoox’s LMS offering.

“We are excited to provide our customers with access to Go1’s content library. This will enable their employees to engage with a variety of styles, formats, and languages that cater to their learning preferences.” —Lefteris Ntouanoglou, Schoox

Go1’s high-quality education and training options span a global array of industries and topics across compliance and upskilling. Organizations can offer their employees the skills and training most relevant to them in various formats, from text-based content to video and audio courses. Content can be curated into skill-boosting playlists designed to tackle any learning challenge head-on.

“We are proud to offer learning opportunities that allow our customers to reimagine learning and development,” said Chris Eigeland, CEO of Go1. “Our content powers learning programs with the most diverse learning and compliance training content and enables employees to take learning into their own hands for personal and professional growth.”

“Every individual learner is unique,” said Lefteris Ntouanoglou, founder and CEO of Schoox. “We are excited to provide our customers with access to Go1’s content library. This will enable their employees to engage with a variety of styles, formats, and languages that cater to their learning preferences.”

Go1’s formats include micro-learning, immersive courses, podcasts, practice labs, and more. Together, Go1 and Schoox serve up essential content solutions that learning and development teams worldwide need to flourish.

About Go1

Go1 is the most diverse learning content aggregator. With expertly curated content spanning more than 80,000 courses from hundreds of industry-leading providers, Go1 delivers a seamless experience for both L&D leaders and employees in a single subscription. The company has raised over $400 million in funding from investors AirTree Ventures, Blue Cloud Ventures, Five Sigma, Insight Partners, Madrona, Salesforce Ventures, SEEK Investments, SoftBank Vision Fund 2 and Y Combinator. Go1 is a Y Combinator 2023 Top Company that provides a seamless learning experience in over 70 learning platforms.

About Schoox

Schoox is workplace learning software with a people-first twist. People aren’t cogs, and Schoox was designed for how humans actually learn. We keep learners curious by letting you deliver more kinds of content wherever they are, from the front line to the corporate office. And by making learning easy, accessible, rewarding, and fun, we help you get everyone more excited about their career development. Learners can “up” their skills, grow on the job, and get more done—and you can measure the impact of their awesome accomplishments. Schoox powers people-focused learning experiences for organizations around the world, including Subway, Celebrity Cruises, Phillips 66, and Sonesta Hotels.

Continue Reading

News

StockGro Teams Up with Dubai Financial Market, Eyes UAE Debut with Enhanced Market Data Access

Published

on

stockgro

To boost financial literacy in the UAE, StockGro, India’s largest stock market experiential learning platform, has partnered with Dubai Financial Market (DFM) to integrate a live data feed. This collaboration aims to enhance retail investor participation by fostering stock market literacy across the region.

StockGro’s community-based learning platform features over 100 licensed financial experts educating millennials about the financial markets. With DFM’s live data feed implemented on StockGro’s risk-free education platform, the partnership aims to propagate financial awareness in the UAE region.

Ajay Lakhotia, Founder and CEO of StockGro, commented on the expansion, saying, “Launching in UAE marks a significant milestone in our journey to make financial education accessible globally. With DFM’s support, we are excited to empower lakhs of UAE-based investors to become financially free.”

StockGro is India’s premier experiential social learning platform for trading and investments. With over 35 million users nationwide, StockGro is the trusted destination for individuals seeking to learn and master the art of trading and investments. StockGro has successfully empowered financial enthusiasts across 1000+ prestigious educational institutions, offering a unique and immersive learning experience.

Dubai Financial Market (DFM) is the UAE’s premier stock exchange, facilitating financial growth for investors and market participants by offering innovative products in an efficient, transparent and liquid environment. Dubai Financial Market (DFM) was established as a public institution with independent corporate bodies. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market.

The DFM commenced operations on March 26, 2000, and became the 1st Islamic Shari’a-compliant exchange globally since 2007. Following its IPO in November 2006, when DFM offered 1.6 billion shares, representing 20% of its paid-up capital of AED 8 billion, DFM became a public joint stock company, and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80% of DFM Company through Borse Dubai Limited.

Continue Reading

Trending

Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party