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Synerise Strengthens Growth Strategy With New $8.5 Million Investment in Series B+ Round

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Synerise, a deep-tech company specializing in AI-driven behavioral modeling and big data solutions, has announced a significant $8.5 million investment from VTEX (NYSE: VTEX) and renowned business angels as part of its Series B+ funding round. This strategic investment will bolster Synerise’s expansion into new markets and reinforce its position as a global leader in behavioral AI.

NEW YORK, July 6, 2024 /PRNewswire-PRWeb/ — Synerise, a deep-tech company specializing in AI-driven behavioral modeling and big data solutions, has announced a significant $8.5 million investment from VTEX (NYSE: VTEX) and renowned business angels as part of its Series B+ funding round. This strategic investment will bolster Synerise’s expansion into new markets and reinforce its position as a global leader in behavioral AI.

Synerise provides advanced AI and big data technology solutions to over 150 markets. The company’s clients include industry leaders in retail, banking, eCommerce and other industries. It delivers more than 1 billion AI-driven autonomous decisions daily. Synerise is one of the largest big data platforms in Europe, recognized and awarded by Google, Microsoft, and the Financial Times.

By partnering with VTEX, the composable and complete commerce platform for premier brands and retailers, Synerise will enhance its global reach and innovation capabilities. VTEX, a company listed on the New York Stock Exchange, is trusted by major global brands, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool. With 3,500 active online stores in 43 countries, VTEX enables brands and retailers to build their omnichannel strategy by connecting different channels and a wide commerce ecosystem, ensuring faster time to market and lower total cost of ownership, while delivering more efficiency, less maintenance, and smarter IT investments.

VTEX chose the Polish company Synerise as the AI technology foundation to power the AI functionality of the VTEX Platform and its ecosystem.

“We are thrilled to welcome VTEX as a strategic partner” said Jaroslaw Królewski, founder and CEO of Synerise. “This investment validates our technology and vision, providing us with the resources to accelerate our growth plans. Together with VTEX, we will empower businesses to unlock the full potential of AI-driven customer engagement and achieve unparalleled success in the digital commerce landscape.”

Geraldo Thomaz, founder and co-CEO of VTEX, commented, “We are impressed with Synerise’s technology and team. By far, it is the best model for behavior prediction that we had the opportunity to test. We believe Synerise can consolidate the infrastructure layer for companies developing AI solutions. AI providers will consolidate as fast as cloud providers consolidate. We see Synerise as the core for the AI retail world.”

Synerise and VTEX have announced a deep technological cooperation. This alliance will integrate Synerise’s AI-driven behavioral prediction models with VTEX’s commerce platform, providing VTEX’s enterprise customers with enhanced AI capabilities. VTEX and Synerise signed a term sheet that aggregates a commercial and share-based agreement. VTEX will develop AI products and add-ons based on the BaseModel™ (Synerise’s prediction technology).

VTEX connects over 1,000 system integrators and independent software vendors, and more than 6,000 VTEX IO extensions created by third parties, enabling comprehensive solutions for its customers with an impressive speed of implementation. This powerful ecosystem will be trained to deploy Synerise-powered solutions integrated with the VTEX Platform.

This partnership positions both companies to lead the future of AI-powered commerce, enabling businesses to leverage data and real-time insights to personalize customer experiences, optimize marketing campaigns, and drive sales.

Synerise also announced new shareholders, including Marcin Zukowski, co-founder of Snowflake, and Simon Hay, former CEO of dunnhumby. This expansion of the shareholder base supports Synerise’s growth into new markets from its roots in Poland and Eastern Europe to becoming a global leader in behavioral AI.

“Our new shareholders play major roles in the tech and data world, and their involvement signifies our ambitions for the future” said Królewski.

Following this investment, Synerise is now valued at over $120 million USD. The company employs over 200 people.

About Synerise

‍Synerise is a deep-tech company founded in 2013 in Krakow, Poland, with offices in Warsaw, San Francisco, and Dubai. The company provides advanced and proprietary AI and big data technology solutions in more than 150 markets, supporting over 1 billion AI-driven autonomous decisions daily. Synerise offers a SaaS platform that allows organizations to store, process, and analyze data in real-time, leveraging AI to personalize experiences, predict future trends, and optimize business operations. Synerise is science-oriented, focusing on developing the best AI talent in the region. Beyond its commercial platform, the company offers open-source projects that benefit various industries beyond its core markets, including cancer drugs and generic medications development. Synerise won multiple awards for its achievements in AI and behavioral modeling, and consistently delivers state-of-the-art results. Synerise also actively supports educational initiatives, scientific research, and community projects. For more information about Synerise and its advanced AI and big data technology solutions, visit synerise.com

About VTEX

VTEX (NYSE: VTEX) is the composable and complete commerce platform that delivers more efficiency and less maintenance to organizations seeking to make smarter IT investments and modernize their tech stack. Through its pragmatic composability approach, VTEX empowers brands, distributors, and retailers with unparalleled flexibility and comprehensive solutions, enabling them to invest solely in what provides a clear business advantage and boosts profitability. VTEX is trusted by 2,600 global B2C and B2B customers, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having 3,500 active online stores across 43 countries (as of FY ended on December 31, 2023). For more information, visit www.vtex.com.

Media Contact
Jaroslaw Krolewski, Synerise, 48 507760147, office@synerise.com, synerise.com

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions

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Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit tKash.co.

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SOURCE tKash

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion

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Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

For more information about Saronic, please visit: https://www.saronic.com.  

Media Contact: Press@saronic.com 

 

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Summit-Friendship Solar Village Receives Reuters’ Global Energy Transition Awards 2024

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SINGAPORE, July 19, 2024 /PRNewswire/ — The ‘Summit-Friendship Solar Village’ project, located in Kabilpur within the Gaibandha district of Bangladesh, has received the prestigious Reuters’ Global Energy Transition Awards 2024 under the ‘Projects of Impact’ category in New York, USA on 25th June 2024. Among 500 entries this year from around the globe, this project was nominated for its concrete results in terms of improved energy affordability, and compensation for losses to improve local resilience for climate change.

This 57.6 kW scalable solar microgrid now benefits the 3,000 inhabitants of Kabilpur, Gaibandha. Kabilpur itself is a char—a remote sedimentary landmass found within a river—but finds itself ideally placed to act as hub for neighbouring chars within the Jamuna River, upon which it is situated.

“Summit wants to serve 100% of Bangladesh with infrastructure such as electricity and communication. Most chars fall outside the national grid. I believe these chars, like the rest of Bangladesh, deserve electricity. The award-winning NGO, Friendship, has done wonders. It’s a privilege to provide solar energy to the 3,000 people of Kabilpur Char in association with Friendship,” remarked Muhammed Aziz Khan, Chairman of Summit Power International.

“Anyone who has seen the Jamuna River in its full might will understand that mainline power grids are not really possible here. On the other hand, this solar grid will provide income-generating opportunities and livelihoods, as well as opportunities for children’s education in order for hope and dignity to thrive. We want to thank Summit for its support,” said Runa Khan, the founder of Friendship.

The solar village plays an integral role in allowing people from these isolated communities to have access to “modern” amenities, and have longer operational hours for both business and commerce, alongside academics and home use. Additionally, renewable solar energy also equates to less reliance on traditional kerosene lamps, which burn fossil fuels with toxic consequences.

About Summit Power International 

Summit Group is the largest infrastructure conglomerate in Bangladesh. Summit Power International Ltd (SPI), headquartered in Singapore, is the largest Independent Power Producer (IPP) in Bangladesh reflecting 17% of Bangladesh’s total private installed capacity and 7% of nation’s total installed capacity. In addition, it owns and operates a Floating Storage and Regasification Unit (FSRU) vessel and supplies 500 million cubic feet per day (mmcfd) of regasified LNG to Bangladesh. In 2019, Summit’s FSRU received equity investment from Mitsubishi Corporation. In 2019, JERA Co., Inc. (JERA), had acquired a 22% stake in Summit Power International. Recently, it has proposed the development of the country’s third FSRU and the Cabinet Committee on Economic Affairs has provided in-principle approval of the proposal in mid-June 2023. Most notably, the Meghnaghat II, which is a dual-fuel CCGT GE H Class plant with gross capacity of 590 MW on LNG, achieved the commercial operation date milestone on 26 April 2024.

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SOURCE Summit Power International

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