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Beta Boom Closes $14.5 Million Fund II to Invest in Software Solutions for Fastest-growing, Yet Least Served Populations

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Pre-seed and seed stage VC firm Beta Boom has closed a $14.5 million Fund II with limited partners including Ally Bank, Pivotal Ventures, Bank of America, and Atento Capital. This fund will support early-stage startups that address the most critical needs of the fastest-growing, yet least-served populations.

SALT LAKE CITY, Feb. 13, 2024 /PRNewswire-PRWeb/ — Beta Boom, a pre-seed and seed stage venture capital firm committed to achieving impact at scale, has closed a $14.5 million Fund II raised by Managing Partners Kimmy and Sergio Paluch. With Limited Partners that include Ally Bank, Pivotal Ventures (A Melinda French Gates Company), Bank of America, and Atento Capital, the fund will support early-stage startups that address the most critical needs of the fastest-growing, yet least-served populations.

“The closing of this fund allows us to continue investing in software startups that not only solve real and meaningful problems, but that also have strong market potential,” said Kimmy Paluch, Co-founder and Managing Partner of Beta Boom.

“The closing of this fund allows us to continue investing in software startups that not only solve real and meaningful problems, but that also have strong market potential. We see the greatest needs and opportunities in fintech, digital health, and the future of work, and that’s where Beta Boom’s focus remains,” said Kimmy Paluch, Co-founder and Managing Partner of Beta Boom. “We’ve always seen ourselves as somewhat of outliers in the VC space, and we have so much conviction in that. Not only have we created a sourcing strategy that’s purpose-built to identify incredible founders outside major tech hubs like Silicon Valley, but we are also ludicrously hands-on in the way we support our founders – because our investment in their success is driven by purpose.”

“Beta Boom is doing something different. We’ve been impressed by Kimmy’s deep experience and relationships, allowing the team to have steady, individualized support for their founders. Their unmatched growth mindset gives them the flexibility to learn, absorb, and adjust in an unpredictable ecosystem,” Erin Harkless Moore, Senior Director of Investments at Pivotal Ventures.

Priding themselves on a fiercely untraditional approach to evaluating founders, Beta Boom looks beyond referral networks and major tech hubs, consciously focusing across America’s Heartland. Prospective investments are evaluated on more than 30 dimensions across 5 categories – nearly 50 percent of which is attributed to the team execution and founder qualities such as grit. Attributes related to pedigree, like having attended an Ivy League school, results in detracted points to adjust for bias.

In hopes of taking a closer look at pedigree bias, Beta Boom recently conducted an analysis of the top 10 venture capital firms. After analyzing more than 800 seed investments made throughout the last five years, they found that 69 percent of investments were linked to pedigree.

“Many of our founders tell us that Beta Boom is the first time they feel like they’ve been taken seriously – which is both encouraging and disconcerting at the same time. We don’t care about a founder’s professional background or location; what we’re truly looking for is someone who has persevered in the face of adversity,” said Sergio Paluch, Co-founder and Managing Partner of Beta Boom. “Founders who are intimately connected to the problem they are trying to solve not only have a proven track record, but also have the power to become the next generation of unicorn founders – if given the opportunity.”

“Beta Boom’s approach is truly unique and special. Time and time again Kimmy and Sergio demonstrate their roles as true partners and champions, and not only because they provide critical, actionable support, but also because they see the potential and greatness in founders when they often struggle to see it themselves. Simply put, Beta Boom sets a new standard for the relationship investors need to have with their portfolio companies,” said Emily Brown, Co-founder and CEO of Attane Health.

Through a self-funded Fund I and its current Fund II, Beta Boom has already invested in 20 companies alongside leading investors like Union Square Ventures, Acumen America, SoGal Ventures, Serena Ventures, BBG Ventures, Alumni Ventures Group and others; supporting impact-driven companies like:

Bolder Money, an online money coaching program, that has increased the wealth of members by an average of $12KCanopie, addressing the maternal mental health crisis with accessible, evidence-based care, and has helped 80% of its mothers achieve clinically significant improvements in depression scoreAttane Health, providing healthy food access for those living with chronic health conditions such as diabetes and heart disease, which affect one-third of all Americans

Beta Boom’s General Partners have led innovation and growth projects for some of the world’s leading brands, companies like Google and TiVo. Individually, and as a firm, they have been awarded for their commitment to changing both the business and venture capital landscape through recognition from Utah Business, Kem C. Gardner Institute, Silicon Slopes, Living Color, and other highly-respected accolades and organizations.

About Beta Boom

Since 2018, Beta Boom has invested in early-stage software companies solving the most critical needs of the fastest-growing, yet least-served, populations. Committed to investment principles that are fiercely untraditional, Beta Boom values grit and perseverance over pedigree and looks beyond Silicon Valley for founders who are intimately connected to the problems they’re trying to solve. The firm invests primarily in fintech, digital health, and the future of work, areas where the greatest opportunities lie in addressing unmet needs, at scale. Co-founded by Kimmy and Sergio Paluch, who have led product innovation projects for companies like Google and TiVo, Beta Boom is backed by Limited Partners that include Ally Bank, Pivotal Ventures (A Melinda French Gates Company), Bank of America, and Atento Capital. For more information about Beta Boom visit https://betaboom.com/.

Media Contact

Liza Vilnits, Beyond Trending PR, 1 508-333-8548, liza@beyondtrendingpr.com

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SOURCE Beta Boom

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Flash News: OKX Lists DGB and ENJ Tokens on its Perpetual Futures Market

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NASSAU, The Bahamas, March 1, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for the day of March 1, 2023.

OKX Lists DGB and ENJ Tokens on its Perpetual Futures Market

OKX is pleased to announce the listing of DGB and ENJ on its perpetual futures market. Starting from 8:30 am (UTC) on March 1, 2024, users are able to trade DGB/USDT with up to 20x leverage. DGB margin trading and Simple Earn have also been enabled at 10:30 am (UTC) on the same day.

In addition, the ENJ listing has arrived at OKX at 10:30 am (UTC) on March 1, 2024. Users will have the opportunity to trade ENJ/USDT with up to 20x leverage. ENJ margin trading and Simple Earn have also been introduced at 10:00 am (UTC) on the same day.

The updates apply to both web and app interfaces as well as the API.

OKX is committed to providing a diverse range of trading solutions and listings. The inclusion of DGB and ENJ to its perpetual futures market is part of this ongoing commitment.

For more information, please visit the Support Center.

About OKX

OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto app for traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

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SOURCE OKX

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Ethernet Test Equipment Market Poised for Growth: New Report Forecasts 5.41% CAGR Through 2027, Driving Factors Revealed

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DUBLIN, March 1, 2024 /PRNewswire/ — The “Global Ethernet Test Equipment Market 2023-2027” report has been added to  ResearchAndMarkets.com’s offering.

The global Ethernet test equipment market is set to experience a significant growth spurt, with a new market research report projecting an acceleration at a compound annual growth rate (CAGR) of 5.41% between 2022 and 2027. Experts predict an increase in market value of USD 594.84 million during the forecast period, underlined by key trends, opportunities, and drivers that pave the way for the future of the Ethernet test equipment industry.

Demand for High-Speed Ethernet Augments Market Expansion

The quest for enhanced data transmission speeds spurs the demand for high-performance Ethernet solutions, and consequently, the equipment to test them. The market is set for an upward trajectory, bolstered by the increasing necessity for high-speed Ethernet across various industry verticals. This dynamic growth is further propelled by the expansive development of data centers, which forms a critical component in supporting the surge in market demand.

Industrial Ethernet Takes Center Stage in Manufacturing and Automotive Sectors

Segmentation of the market indicates that the Ethernet test equipment industry is not just flourishing in the telecommunication sector but is also carving a significant niche in automotive and manufacturing. As industrial Ethernet begins to replace traditional fieldbus systems, the need for sophisticated testing solutions intensifies, ensuring robust performance and compliance with emerging standards.

Geographical Insights Reveal North America and APAC as Key Market Leaders

Analyzed by geographical regions, the report highlights North America and the Asia-Pacific (APAC) region as pivotal players within the Ethernet test equipment market. Both regions showcase an impressive concentration of technological advancements and industry growth that contribute significantly to the market’s overall development.

Technological Innovations Spearhead Market Growth

Next-Gen Power over Ethernet and Automotive Testing Innovations

Upcoming innovations, such as the new-generation Power over Ethernet (IEEE 802.3bt), are among the primary growth factors cited. Enhancements in power capabilities are anticipated to open new use cases in the market, thereby stimulating further expansion. The growing demand for testing solutions within the automotive industry also marks a pivotal trend, reflecting the escalating integration of Ethernet systems in vehicular networks.

Up-to-the-minute Market Scenario AnalysisInsights on Market Dynamics and Environmental ImpactIn-depth Industry Challenges and Vendor Landscape Examination

The study presents a thorough synthesis of primary and secondary information, including invaluable insights from key industry players. It paints a comprehensive picture of the market and provides a detailed vendor landscape, geared towards helping businesses understand their competitive positioning and identifying growth opportunities.

This report stands as an indispensable tool for stakeholders seeking to navigate the complexities of the Ethernet test equipment sector and capitalize on the emerging trends forecasted for the next four years.

The Ethernet test equipment market is teeming with innovation and growth prospects. With these latest insights, industry participants can strategize effectively to harness the potential that lies in the burgeoning demand across the globe.

Companies Profiled:

Agilent Technologies Inc.Anritsu Corp.EXFO Inc.SilvertelKeysight Technologies Inc.Spirent Communications plcTeledyne Technologies Inc.Xena Networks ApSYokogawa Electric Corp.Accedian Networks Inc.GAO Group Inc.GL Communications Inc.IDEAL INDUSTRIES Inc.Marvell Technology Inc.NetScout Systems Inc.Sifos Technologies Inc.TE Connectivity Ltd.VeEX Inc.Viavi Solutions Inc.Beijing Xinertel Technology Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/r6xi3q

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com 
 
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SOURCE Research and Markets

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Yarbo Wins Multiple Awards in iF DESIGN AWARD 2024

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BERLIN, March 1, 2024 /PRNewswire/ — Yarbo is the proud recipient of three awards in this year’s iF DESIGN AWARD, the world-renowned design prize. The winning products, 3-in-1 Intelligent Yard Care Robot and Yarbo Intelligent Snow Blower received the award in the “Product” discipline, while the Yarbo app were honored in the “User Interface (UI)” discipline.

The iF DESIGN AWARD, now in its 70th year, is one of the most important design prizes in the world and has been recognized as an arbiter of quality for excellent design. The iF label is a reliable sign of good design for consumers and the design community.

This year’s screening process was highly competitive, with the award receiving almost 11,000 entries from 72 countries in hopes of receiving the seal of quality. Following a rigorous online preselection process, Yarbo’s products emerged as top contenders among the final 50% of entries, securing their place in the prestigious final round of judging. Among all the high-quality entries across the globe, Yarbo’s robot and app products eventually won over the 132-member jury, made up of independent experts from all over the world for their innovative concept and unique design.

The recognition of Yarbo’s products by the iF Final Jury underscores the company’s status as a pioneer in the industry. Yarbo transforms traditional yard maintenance by addressing tasks that are typically labor-intensive, time-consuming, and potentially dangerous. By automating yard work and reducing reliance on manual labor, providing fast and reliable solutions for snow removal and lawn mowing, Yarbo improves users’ quality of life, particularly benefiting those with disabilities or of an advanced age. Moreover, Yarbo presents a cost-effective solution by offering a universal body (Yarbo Core) featuring interchangeable modules, replacing expensive lawn care and snow removal services. All of these contribute to redefining residential outdoor experiences and leading to a superior yard maintenance experience.

About Yarbo

Yarbo is a pioneering technology company at the forefront of smart yard maintenance solutions. With a strong focus on independent R&D technology, Yarbo is dedicated to providing smart yard robots offering a diverse range of multi-functional services.

Currently, Yarbo’s product lineup encompasses Snow Blower S1, Lawn Mower M1, and Blower B1. The newly introduced modules ranging from Vision IQ to S1 Plus and M1 Pro, as well as the add-ons, the Granular Spreader and Liquid Spreader, further simplify yard care tasks. Yarbo’s commitment to innovation extends to a wider range of yard maintenance solutions, encompassing irrigation, debris and leaf vacuuming, plowing, trimming, security patrol, and more. Discover more about Yarbo’s innovations at https://www.yarbo.com/.

 

View original content:https://www.prnewswire.com/news-releases/yarbo-wins-multiple-awards-in-if-design-award-2024-302077108.html

SOURCE Yarbo

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