Albedo, a company developing low-flying satellites that will deliver ultra high resolution images, announced a $48M Series A financing round co-led by Breakthrough Energy Ventures and Shield Capital, bringing the company's total funding to $58M in less than two years since inception. "Albedo is developing the world's first commercially available high-resolution imaging capability, which holds tremendous promise for both commercial and defense customers," said Raj Shah, Managing Director of Shield Capital Participation in the round included new investors Republic Capital, Giant Step Capital, and C16 Ventures, along with existing investors Initialized Capital, Joe Montana's Liquid 2, Kevin Mahaffey, and other undisclosed participants. Albedo is developing very-low-earth-orbit (VLEO) satellites that will co-collect 10 centimeter (cm) optical imagery and 2 meter thermal infrared imagery. The resolution of Albedo's imagery is unprecedented in the commercial market and will enable applications that have been limited by lower resolution satellites or operational limitations of imagery collected from planes. The Series A funding will enable the company to complete development of its first satellite and develop the software to support satellite operations and deliver imagery to users.

Jiminny, a UK headquartered conversation intelligence provider supporting sales teams across the world, has closed a $16.5 million series A funding round. The round was led by Kennet Partners, a transatlantic growth equity firm, adding to its targeted portfolio of technology growth stage investments. Sales teams use Jiminny's platform to record and analyse new and existing customer conversations in real-time. These insights are used by the business to improve performance and ultimately drive revenue and growth. A range of organisations, from FTSE 100 constituent Informa to Europe's leading expense management solution, Pleo, are using the platform.

Tractian, a machine intelligence company offering one of the most advanced industrial monitoring systems on the market, announced $15 million in Series A funding led by Next47, a global venture capital firm specializing in building category-defining B2B technology businesses. YCombinator and other previous investors also participated in the round. The new capital will allow the company to consolidate its position in the global market by extending operations from Brazil to Mexico and the U.S. and continuing rapid development of industry-leading products. "We know the industries that empower their frontline workers with best-in-class productivity tools have superpowers compared to others, and Tractian appears as the right arm of maintenance managers to manage their routines around the world" Tractian has developed streamlined hardware-software solutions designed to give maintenance technicians and decision-makers comprehensive oversight of their operations. With ease of installation and quick value generation at the heart of its customer approach, Tractian is democratizing access to sophisticated monitoring and analytics.

The industry is ripe for commercial implementation of Machine Learning (ML) and high-performance computing (HPC) solutions that leverage integrated …

"Apella believes that every patient deserves the best possible outcome from surgery," commented David Schummers, co-founder and CEO of Apella. "Our technology is aimed at helping each member of the surgical team to do their best job." Apella's initial products include sensors installed in the operating room and harness a variety of artificial intelligence approaches to collect and analyze new data about surgery. This data contributes to applications targeted at improving hospital operations, surgical quality, staff training and real-time decision making with the overall goal of improving the quality of surgical care. "At Apella, we know that you can't improve what you can't measure," continued Schummers.

The Company's technology harnesses artificial intelligence to create a systematic method for process improvement and quality control in surgery.

Neural Magic, the AI company building a software platform for deep learning inference, announced a $30 million Series A funding round led by existing investor NEA with participation from Andreessen Horowitz, Amdocs, Comcast Ventures, Pillar VC, and Ridgeline Ventures. This financing brings the company's total amount raised to $50 million. The new capital will be used to advance Neural Magic's leadership in pure software machine learning acceleration and to support the success of a growing community of developers. Born out of MIT, Neural Magic creates groundbreaking algorithms and tools that bring software, rather than specialized hardware, to the center stage in machine learning (ML) infrastructure. The company creates machine learning models that deliver GPU class performance on commodity CPU hardware, creating a flexible world of AI delivered and executed purely in software.

Arize AI, a machine learning (ML) observability and model monitoring platform, announced it has raised $19 million in Series A financing. The round was led by Battery Ventures with participation from previous investors Foundation Capital, Trinity Ventures, The House Fund, and Swift Ventures. Dharmesh Thakker, general partner at Battery Ventures, will join the Arize AI board. Machine learning is the backbone of modern technology, powering artificial intelligence (AI) systems that touch all aspects of life. But these systems are extremely complicated, and many ML practitioners don't have the right tools or telemetry to understand how or why their creations work.

X-37 was cofounded by Atomwise Inc. and a team of experienced pharmaceutical developers from Velocity Pharmaceutical Development. In addition to the above development programs, the team at X-37 will identify additional high-value drug targets, generate novel drug leads against these targets using Atomwise's world-class AI platform for structure-based drug design, and develop each of these drug programs to a medically-relevant inflection point, where it can be acquired by or partnered with a major pharmaceutical company to be brought to market. X-37 makes use of an LLC structure permitting each drug development program to be housed in a separate virtual company under the parent LLC. This structure is tax efficient and flexible, in that it allows X-37 to divest individual drug development programs, while maintaining the parent company and team. X-37 began operation in 2018 and has already generated promising novel hit molecules against several targets of high interest to the pharmaceutical industry.

SAN FRANCISCO–(BUSINESS WIRE)–INDUS.AI, a construction software company using computer vision to track and analyze construction project performance in real-time, announced today that it has received an $8 million Series A investment led by Millennium New Horizons with additional participation from strategic investors Foundamental and Groundbreak Ventures. Previous investors Spero Ventures, UP2398, and Bootstrap Labs also joined the round. The new funding will be used to accelerate product development and expand sales, marketing and customer success services. "The construction industry has been a neglected space for too long. This country expends extraordinary energy and capital to build amazing things – tunnels, train stations, skyscrapers and stadiums. But the sad truth is that the vast majority of those projects are painfully over-budget and delayed," said Matt Man, CEO and co-founder.