Dear Esteemed Partners and Friends:
We are pleased to welcome you to our quarterly newsletter, which summarizes how Rising Tide links money with the chance to generate value and forge a better future. We take immense pride in the success and steady growth of our portfolio and, importantly, the confidence our Limited Partners have in us.
We hope you will enjoy this report and as always, please send us your suggestions at info@rtf.vc. We also encourage you to visit our social media sites – Linked-in here; Twitter here – that showcase the power of entrepreneurial ideas and investments in talent and technology.
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Evonetix Closes an Oversubscribed $24 Million Financing
The investment will enable the continued development of Evonetix’s semiconductor chips to commercial scale, and the extension of gene assembly capabilities for its unique binary assembly technology to deliver accurate, gene-length DNA in a benchtop instrument. The platform has the potential to revolutionize the way this DNA is prepared and delivered to users in the rapidly growing field of synthetic biology, accelerating research in applications across pharma, biotech, food, agriculture, and data storage. More here.
Enabling the Synthesis of DNA on a Chip. Some of the most difficult problems in the world could be solved through synthetic biology, but to go forward more quickly, gene synthesis needs to be improved. Evonetix makes this happen. More here.
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Aspect Biosystems Receives Over $3.6 Million from the Government of Canada
Aspect Biosystems, a biotechnology company pioneering the development of bioprinted tissue therapeutics, announced that it has received over $3.6 Million in funding from the Government of Canada. This investment will help the Company broaden the application of its bioprinting technology, expand its global network of partners, and scale up its manufacturing systems to increase productivity and the potential for its platform to create the next generation of life-changing therapies. More here.
Aspect Biosystems Secures $20 Million in Series A Financing. Combining the power of microfluidics and 3D bioprinting to fuel medical research and the development of bioprinted tissue therapeutics that will save lives and make people healthier. More here.
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Armory Inc. Secures $40 Million in Series C Financing.
Automating software delivery and enabling software teams to ship better software, faster. More here.
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Fly.io Secures $25 Million in Series B Financing.
Allowing developers to work with anyone, whenever, and wherever they are while effectively saving the developer team's time and money—something essential in our always-digital era. More here.
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Transforming How Insurance Companies Create Value – Ledger Investing Secures $75 Million in Series B Financing.
Building a scalable, affordable market for securitizing insurance risks by fusing financial engineering with software engineering. More here.
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The Astranis Arcturus Satellite Arrives at Cape Canaveral for SpaceX Launch
The satellite, named "Arcturus" is scheduled to launch on April 8th 22:25 UTC on a SpaceX Falcon Heavy rocket together with the ViaSat-3 Americas satellite. The Arcturus satellite will provide dedicated, high-speed internet service to Alaska, once on-orbit, and will be the world’s first, operational, MicroGEO satellite. The end customer for this mission is Pacific Dataport, Inc., a local satellite services provider in Alaska. Rising Tide extends its best wishes to the Astranis team and is extremely pleased with everything they have accomplished. More here.
Astranis Gets Order for a Pair of Mexico-Telco-Focused GEO Broadband Satellites. The satellites are part of a third batch of satellites Astranis plans to launch together on an undisclosed dedicated rocket. More here.Astranis Wins Space Force Contract to Integrate Military Satcom on the Commercial Payload. The contract includes a $4.5 Million award to implement the Protected Tactical Waveform using the existing Astranis Software-Defined Radio satellite payload and comes with a $6 Million option for an on-orbit demonstration using a future Astranis satellite asset. More here.
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Ayar Labs Demonstrates Industry’s First 4-Tbps Optical Solution, Paving Way for Next-Generation AI and Data Center Designs
Ayar Labs announces public demonstration of the industry’s first 4 terabit-per-second (Tbps) bidirectional Wavelength Division Multiplexing (WDM) optical solution. In-package optical I/O uniquely changes the power and performance trajectories of system design by enabling compute, memory, and network silicon to communicate with a fraction of the power and dramatically improved performance. More here.
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Exo® Wins 2023 BIG Innovation Award for Exo Works™.
The Company is known for its logical and user-friendly point-of-care ultrasound workflow system. More here. With Exo Works™, users can document, review, QA, and bill ultrasound exams seamlessly. See the video here.
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THE NEW YORKER: Could Ultrasound Replace the Stethoscope?
Miniaturization, experimentation, and A.I. have unlocked revolutionary potential in old technology. In this insightful article, Emergency Medicine Physician, Dr. Clifford Marks, MD, MBA, dives into the capabilities and future of handheld ultrasound. More here. Exo, a portfolio firm, wants to extend medical imaging all across the world for these reasons.
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TAE Life Sciences Announces First Cancer Patient Treatments
Patients underwent BNCT or Biologically Targeted Radiation Therapy using TAE Life Sciences’ Neutron Beam System as part of Neuboron Medical Group’s NeuPex System at Xiamen Humanity Hospital in China. Treated with the NeuPex System from Neuboron with TAE Life Sciences’ electrostatic Neutron Beam System (NBS), these are the first human patients treated with AB-BNCT technology outside of Japan. More here.
TAE Life Sciences is developing the next-generation targeted boron drugs and low-energy accelerator-based neutron source – optimized for an in-hospital BNCT program that can one day treat patients with the most aggressive and recurrent cancers.
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ALICE Technologies, Beck Partner for Design-Build Project
ALICE Technologies announces a partnership with The Beck Group to accelerate project delivery and mitigate risk on their capital projects through the use of the ALICE platform. Beck will use ALICE on The Ivy, a 200,000 SF mixed-use tower being developed for Woods Capital’s Pacific Elm Properties in Dallas. Read the full press release here.
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GRObio CEO Dan Mandell Featured on Labiotech.eu’s Beyond Biotech Podcast
The promise of protein-based therapeutics is being fulfilled by GRObio’s groundbreaking science, which broadens the amino acid alphabet. Podcast highlights include GRObio’s approach to expanding the amino acid alphabet, and how the Company is using its platform to develop treatments for rare diseases. More here.
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Andrew Butt, CEO of Enable: $156 Million Raised to Build the Future of Rebate Management
Rebates are one of the most misunderstood and undervalued incentives in a business’s strategic toolkit. While rebates can drive growth for your business and strengthen your trading relationships, they are associated with outdated and complex manual processes that take more time than they are worth. Enable CEO Andrew Butt recently appeared on an episode of the Category Visionaries podcast to clear the air about rebates and discuss How rebates can drive growth and build stronger supply chains. More here.
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National Colorectal Cancer Awareness Month Occurs in March; Activ Surgical Responds
The American Cancer Society estimates 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer in 2023 alone. At Activ Surgical, the Company is working to make the job of the surgeons who work on these cancers much easier with advanced visualization techniques such as ActivSight™ Intelligent Light & ActivPerfusion™.
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Unlocking a New Source of Microbes to Improve Human Health – Solarea Bio, The Food as a Medicine Company.
The mycobiome is being studied as a novel class of probiotics for the dietary treatment of inflammation linked to aging. More here.
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A Fair and Intelligent Alternative Trading System (ATS) – OneChronos, The Smart Market for Institutional Investors. NYSE, NYSE American, NYSE Arca, and NYSE National now route directed orders to OneChronos ATS.
More here.
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Account Security and Fraud Prevention for Developers, Teams, and Enterprises – Castle Intelligence, Inc.
Automating account security and threat response.
More here.
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Rising Tide Partners with Organizations that Connect Women Entrepreneurs to Mentoring, Capital, and Other Tools that Help Advance their Businesses.
In order to attain gender equality globally, according to the World Economic Forum's (WEF) Global Gender Gap Report 2022, it will take an average of 132 years. iSAW International aims to achieve a ten times acceleration in reaching workplace gender equality worldwide. More here.
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Activ Surgical Appoints Manisha Shah-Bugaj as Chief Executive Officer. In her expanded role as CEO, Shah-Bugaj will oversee the ongoing development and commercialization of Activ Surgical products and engage with company partners, customers, and investors. More here.
Activ Surgical Announces Completion of First AI-Enabled Case Using Its ActivSight™ Intelligent Light. Digital surgery pioneer uses proprietary colorectal artificial intelligence mode during surgical procedure at the Ohio State University Wexner Medical Center. More here.
ALICE Technologies Hires Former Autodesk Executive Morgan Hays as SVP of Product. ALICE Technologies helps general contractors and owners worldwide to leverage the power of artificial intelligence to plan, bid, and build their large-scale infrastructure and commercial projects more efficiently and with reduced risk. More here.
Brave Software Introduces the "Summarizer", an AI tool for synthesizing, relevant results. The Brave browser has over Fifty-Seven Million monthly active users, and Brave Search serves more than Twenty-Two Million queries per day out of its independent index, which makes it the biggest search engine after Bing, Google, and other engines relying on Bing or Google APIs. (Source: Company) More here.
Castle's New Instant Link Analysis Tools. Clients can stay one step ahead of fraudsters and keep their business secure faster than ever before with Castle's new instant link analysis tools. More here.
CoinList Partners LexisNexis Risk Solutions to Automate Client Onboarding. In selecting the RiskNarrative platform, CoinList gains access to a full suite of data and technology solutions. More here.
U.S. Army Funds Advancement in Perception Sensing for Autonomous Ground Systems. Metawave awarded “Direct to Phase II” contract to develop long-range radar sensing and perception solution. More here.
Announcing Doodles 2 is Coming to Dapper Labs “Flow”. One of the most successful Ethereum NFT projects is choosing the home of NBA Top Shot for its follow-up series. More here.
NBA Top Shot Will Let Users Buy NFTs via Apple, and Android Mobile Apps. Dapper Labs is pivoting to mobile—and working to help evolve Apple and Google’s approach towards NFTs and Web3.
More here.
Molecular Assemblies Ships the First Enzymatically Synthesized Oligonucleotides. The Company has shipped the oligonucleotides to top biotechnology, academic, and synthetic biology researchers, delivered as part of a key customer program. The Company looks forward to sharing more at the #SynBioBeta2023 conference. More here.
RBC Signals and Cobham Satcom Announce Expanded Ground Segment Partnership. The strategic agreement between the two industry leaders will significantly augment RBC Signals' owned and partner ground network, enabling integrated communication services to NGSO missions and constellations for Earth Observation, and Space Situational Awareness. More here.
Hello (Again) From Trust Machines. Read about the goals behind the Trust Machines website redesign, and how it factors into the mission of building on Bitcoin. More here.
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Disclosure: This presentation is not an offer to sell securities of any investment fund or a solicitation of offers to buy any such securities. Securities of any fund (the “Fund”) managed by Rising Tide Fund Managers, LLC (the “Rising Tide”) are offered to selected investors only by means of a complete offering memorandum and related subscription materials which contain significant additional information about the terms of an investment in the Fund (such documents, the “Offering Documents”). The portfolio companies described herein do not represent all the portfolio companies purchased, sold or recommended for portfolios advised by Rising Tide. The reader should not assume that an investment in the portfolio companies identified were or will be profitable. Past performance is not indicative of future results. Investors should be aware that a loss of investment is possible. The information in this presentation was prepared by Rising Tide and is believed to be reliable. Rising Tide makes no representation as to the accuracy or completeness of such information. Opinions, estimates and projections in this presentation constitute the current judgment of Rising Tide and are subject to change without notice.
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