Artificial Intelligence
Lumachain Raises US$19.5M in Series A Funding Led by Bessemer Venture Partners
DENVER and SYDNEY, Australia, Aug. 25, 2022 (GLOBE NEWSWIRE) — Lumachain, an end-to-end solution for food supply chains, today announced it has raised US$19.5 million in Series A funding, led by Bessemer Venture Partners with participation from existing investor Main Sequence. The company has also announced its first U.S. headquarters in Denver.
This investment will allow the company to accelerate the roll out of its world-first computer vision-based artificial intelligence platform at meat and food processing plants across the U.S. and globally. In addition, Lumachain will significantly scale up its team of computer vision and software engineers, and delivery and product experts from the meat industry. Over the next 12 months, the company expects to increase its U.S. team to approximately 30 personnel, as part of a global team of more than 100. Australian CEO and Founder Jamila Gordon will be based in Denver to scale up its U.S. team as it continues to roll out the platform to customers.
“Lumachain’s mission is to transform the global meat industry, for the good of our customers, their employees, and the planet. Today’s investment accelerates our ability to achieve this mission,” said Gordon. “Our computer vision artificial intelligence platform represents a huge step forward for the industry. Built in close partnership with the world’s leading meat and food processors, it creates a safer environment for workers, safer and higher quality food, and end-to-end transparency across the protein supply chain, driving improved ESG and environmental outcomes.”
Lumachain is digitizing the US$1.5 trillion global meat industry, to change how the world’s food is produced for good. Historically, the industry lacked visibility and data in plant operations and across the entire protein supply chain. The industry also suffers a severe worker shortage, and while plant operators are committed to embracing innovation, until now the technology options to do so have been limited, leading to incremental rather than transformational change. The Lumachain technology platform transforms how meat and food processing plants operate to improve food safety and employee safety, as well as increasing yields and quality.
Lumachain’s platform also drives improved Environmental, Social and Governance (ESG) outcomes, including improved animal wellbeing and end-to-end traceability data to enable positive change throughout the meat supply chain. The company’s unique ability to connect individual cuts of meat back to the animal they came from, and forward to the box they’re packed into, allows retailers and quick service restaurants to capture provenance and ESG information and share this with consumers to inform purchasing decisions. Lumachain also enables ranchers and other producers to be rewarded for producing high quality meat and embracing sustainable practices.
“We’re excited to partner with Lumachain to support their continued expansion, as they transform the global meat industry,” said Tess Hatch, partner at Bessemer Venture Partners. “Their technology platform and deep customer relationships are an impressive achievement already, at a time when innovation and ESG are top of mind in industry and society. We look forward to partnering in Lumachain’s continuing success.”
Foundation customers include world-leading meat processors Cargill, OSI and others, who together provide a significant proportion of the world’s beef, chicken and pork. Another key customer is Coles, Australia’s second largest supermarket chain.
Customer Testimonials
“We’re embracing cutting-edge technology and innovation across our protein supply chain. Lumachain is a key part of our efforts, and helps support some of the biggest challenges at our production facilities by using computer vision and artificial intelligence to drive efficiencies, create a safer work environment, improve the consistency and quality of our products and enable a more sustainable environment,” said Hans Kabat, president for Cargill’s North American protein business. “Ultimately, our goal is to make our people safe, our plants more efficient and our customers more successful.”
“Through Lumachain’s AI technology and solutions, OSI is expanding our innovation to ensure we consistently remain a leader in food safety, quality standards, and operations excellence,” said Mark Richardson, Senior EVP International Division, OSI Group. “We are also proud to use Lumachain’s digitization platform, which allows us to evolve our whole of life traceability to the world’s leading food brands we support.”
“Coles are partnering with Lumachain to strengthen the use of data and insights throughout the whole supply chain, from paddock to plate,” said Martin Smithson, General Manager Meat at Coles. “Traceability through the end to end meat supply chain is an important part of Coles’ sustainability strategy, and we’re excited about the opportunity to leverage Lumachain’s cutting edge computer-vision technology.”
About Lumachain
Lumachain was founded in 2018 by Australian national Jamila Gordon and operates from headquarters in Sydney and Denver. The company was recognized as a Rising Star as part of the Forbes 2022 Cloud 100 list. The Lumachain platform offers customers five core modules: safety, yield, quality, efficiency, and traceability. Its team of over 40 software and computer vision engineers, product and delivery experts spans the U.S., Europe, Asia and Australia. Lumachain currently has contracts with customers across the U.S., Australia, Europe and Asia.
For more information, visit www.lumachain.io.
About Jamila Gordon:
Jamila Gordon has spent over 20 years in global technology leadership roles, including as Chief Information Officer of Qantas Airways and a Europe-based IBM executive delivering billion-dollar customer engagements.
In 2021 Gordon was selected as one of the BBC’s ‘100 Women’ who are helping change the world. She was named Innovator of the Year in the 2021 Women in Artificial Intelligence Awards, Australia and New Zealand. In 2020 she was named New South Wales Entrepreneur of the Year by the Pearcey Foundation, Australia’s most prestigious tech award. In 2018, Microsoft named Gordon as its global Awardee in the International Women’s Entrepreneurship Challenge.
Gordon was born in regional Somalia to a childhood of deep adversity, with no running water or electricity and not enough food. Drought drove her family to Mogadishu; and when civil war broke out, she became a displaced person in Kenya. She came to Australia in 1989, where she learned English and worked as a dishwasher, while studying IT.
Her inspirational TED Talk in 2020 has more than 1.4 million views.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $19 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).
Artificial Intelligence
Fractal Announces Merger of Eugenie.ai to Bolster AI-Powered Climate Solutions
MUMBAI, India, June 26, 2024 /PRNewswire/ — Fractal (www.fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, today announced the merger of Eugenie AI (Eugenie.ai), an AI company dedicated to providing AI-driven products for climate change and industrial sustainability.
Founded in 2021, Eugenie has established itself as one of the pioneering forces in AI-driven climate solutions. Their clientele includes some of the world’s largest industrial corporations across energy, metals & mining, and other hard-to-abate sectors. Eugenie’s achievements include being featured at the prestigious 2024 Google I/O, being an alum of the Google for Startups: Climate Change accelerator and winning multiple global accolades such as the NASSCOM Emerge 50, Tech30 recognition by YourStory, and the Vedanta Spark Corporate Innovation Challenge. Eugenie has been featured as a key provider by Gartner in its 2023 Market Guide for Energy Management and Optimization Systems & Market Guide for Commercial and Industrial Energy Management and Optimization Systems.
Srikanth Velamakanni, Co-founder, Group Chief Executive & Vice Chairman, Fractal, said, “We are excited to welcome Eugenie back into the Fractal family. Eugenie’s cutting-edge AI technologies and their commitment to combating climate change align perfectly with our vision to leverage AI for social good. Together, we aim to accelerate the development and deployment of innovative solutions that address some of the most pressing environmental challenges of our time. Eugenie’s expertise in serving major industrial clients complements our goal of creating significant value for client in Fortune 100 organizations.”
Dr. Soudip Roy Chowdhury, Founder and CEO, Eugenie AI, said, “Joining forces with Fractal marks a significant milestone for Eugenie. Our shared values and complementary expertise will enable us to scale our impact and continue our mission to drive sustainable industrial transformations. We look forward to working together to create a future where technology and nature coexist harmoniously. By integrating our AI-driven solutions with Fractal’s extensive capabilities, we can offer even greater value to our clients, helping them achieve their sustainability goals.”
The merger of Eugenie reinforces Fractal’s commitment to harnessing the power of artificial intelligence to address global challenges and underscores its dedication to sustainability and innovation. By integrating Eugenie’s expertise in climate-focused AI solutions, Fractal aims to expand its portfolio and deliver even greater value to its clients and communities worldwide.
Eugenie’s focus on providing AI solutions to some of the hardest-to-abate sectors aligns perfectly with Fractal’s vision of driving significant value for large enterprises. This strategic merger will enhance Fractal’s ability to offer comprehensive AI solutions that not only optimize business operations but also contribute to a more sustainable and resilient industrial ecosystem.
For more information, please visit www.fractal.ai and www.eugenie.ai.
About Fractal
Fractal is one of the most prominent providers of Artificial Intelligence to Fortune 500® companies. Fractal’s vision is to power every human decision in the enterprise, and bring AI, engineering, and design to help the world’s most admired companies.
Fractal’s businesses include Crux Intelligence (AI driven business intelligence), Eugenie.ai (AI for sustainability), Asper.ai (AI for revenue growth management), Senseforth.ai (conversational AI for customer service) & Flyfish (generative AI for Sales). Fractal incubated Qure.ai, a leading player in healthcare AI for detecting Tuberculosis and Lung cancer.
Fractal currently has 4500+ employees across 17 global locations, including the United States, UK, Ukraine, India, Singapore, Middle East and Australia. Fractal has been recognized as ‘Great Workplace’ and ‘India’s Best Workplaces for Women’ in the top 100 (large) category by The Great Place to Work® Institute; featured as a leader in Data Engineering services 2024 & Data Science Services 2024 by Information Services Group, Leader in AI and Analytics Services Specialists Peak Matrix Assessment 2021 by Everest Group, Leader in Customer Analytics Service Providers Wave™ 2023 by Forrester Research, Inc.
About Eugenie AI:
Eugenie is a forward-thinking AI company, headquartered in NY, USA dedicated to creating solutions that address climate change and promote industrial sustainability. Leveraging advanced AI technologies, Eugenie empowers organizations to achieve their sustainability goals and contribute to a healthier planet.
View original content:https://www.prnewswire.com/in/news-releases/fractal-announces-merger-of-eugenieai-to-bolster-ai-powered-climate-solutions-302183085.html
Artificial Intelligence
ADOLFO DOMÍNGUEZ PRESENTS HIS NEW FASHION AND FRAGRANCE COLLECTION AT A WORLD FASHION SHOW
The brand intertwines fashion and perfume to create an immersive experience in the olfactory and creative universe
The fashion show, which will take place in Chile, will be broadcast online in 29 countries. It can be followed live on the brand’s website and social media profiles
MADRID, June 26, 2024 /PRNewswire/ — Adolfo Domínguez keeps moving forward in its commitment to bring fashion closer to society. The brand will showcase Ikigai, its autumn-winter 2024 collection, together with a selection of new perfumes in a global fashion show.
The event, which will mix fashion and fragrances, will be streamed live on 27 June at 6 p.m. (Portuguese time) on the brand’s website, accessible from 29 countries around the world, as well as through Mega, the main television channel in Chile, and Movistar+, in Spain. The event will also be broadcast on the company’s profiles on social media.
Adolfo Dominguez will showcase its fashion and perfume collections from the La Moneda cultural centre in Santiago de Chile, where it will create an immersive experience with artistic performances and music developed exclusively for the occasion. Attendees will have the opportunity to experience first-hand the essence and innovation that define Adolfo Dominguez, consolidating its presence and relevance in the Latin American market.
“Clothes matter. It is our second skin. Perfume is the trace we leave as we walk by. With each new collection, we explore our creativity and out contribution to society as a brand- why should we limit it to a privileged few in a room?” states Patricia Alonso, Corporate Director of Marketing and Communication at Adolfo Domínguez.
Ikigai, a Japanese concept that invites each person to go in search of their vital purpose, is the driving force behind Adolfo Domínguez’s autumn-winter 2024 collection: a selection of garments designed to liberate oneself. The result is a collection designed to be lived, with garments that are born to make people understand that beauty and happiness reside in the little things.
The fashion show will be streamed on www.adolfodominguez.com and on the brand’s profiles on social media (Youtube, Instagram and Facebook). In Latin America, the fashion show can also be seen on Mega, one of the main Chilean television channels.
Photo – https://mma.prnewswire.com/media/2444915/Adolfo_Dominguez.jpgLogo – https://mma.prnewswire.com/media/2445072/Adolfo_Dominguez_logo.jpg
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TORONTO, NECKARSULM, Germany and NORTHAMPTON, UK, June 26, 2024 /PRNewswire/ — Darwin CX and dsb deepen their alliance as Darwin CX becomes a shareholder of dsb. The Canadian company’s investment in dsb expands Darwin CX into the UK and European market and dsb becomes part of the pioneering Darwin CX family. The strategic partnership marks a significant milestone for Darwin CX and dsb, both leading providers of SaaS solutions and services for publishers.
The most remarkable aspect of this union is the parallel trajectories of these formidable companies prior to the partnership. Darwin CX and dsb’s fly ecosystem both launched in 2018 with the common goal of modernizing the publishing industry, which had become heavily reliant on outdated practices and legacy systems. Each company was on an independent mission to create an ecosystem of tools and solutions that would allow publishers to thrive in a fast-paced, data-driven, digital-first marketplace.
Best practices from North America meet European recipes for success
“While Darwin CX developed a platform for the needs of a North American publishing audience, the dsb fly ecosystem offers its European customers a variety of tools to increase acquisition, maximize customer lifetime value and reduce costs and effort,” explains Liam Lynch, CEO of Darwin CX.
Broader range of resources and features
Darwin CX and dsb are process experts in the publishing environment. “We know the industry’s workflows inside out and have the same vision. Now, as subscription professionals, we are joining forces and offering our customers scalable solutions that enable them to tap into new revenue streams in a dynamic market,” emphasizes Olaf Bendt, CEO of the dsb Group. “Our customers benefit from an even broader range of resources and features.”
Next generation sales and marketing solutions
Publishers are battling dwindling attention spans and declining engagement. dsb and Darwin CX offer the publishing industry new, powerful tools for even more accurate content offers, prices and subscription conditions. All of this is based on data-driven, AI-supported personalization, which offers publishers new insights into their customers’ engagement and launches targeted measures to increase loyalty.
Prioritizing business continuity
“To meet the growing needs of our customers, dsb will expand their fly back-end infrastructure while integrating some of Darwin CX’s key marketing and data management tools. Of course, business continuity will be maintained for both our European and North American clients. We will offer our clients the best of both worlds without disrupting their day-to-day business,” emphasizes Alex Münch, COO at dsb Group.
Solutions for digital and printed content
Darwin CX and dsb are united by a focus on maximizing recurring revenue, seamless integration of online and offline solutions, and a fundamental belief in customer centricity. “The DNA of both companies is the publishing industry. That’s why, together with dsb, we are focusing on customized solutions for printed and digital Content”, stresses Michael Smith, Darwin CX Co-Founder and Chief Technology Officer.
About Darwin CX
Darwin CX is a transformative SaaS and services platform at the leading edge of the subscription and membership economies. Founded in Toronto, Canada, Darwin CX assists brands accelerate acquisition and retention—and increase loyalty—through innovative and customized check-out pages, targeted audience offerings, real-time A/B testing and best-in-class analytics, paywall and customer data platform (CDP). The Darwin CX platform enables clients to have complete freedom and control over customer data in order to tailor the best possible customer experiences. Over 140 well-known publishers and more than 300 brands in the USA, Canada and Australia rely on Darwin CX for their data and subscription management needs. Led by CEO, Liam Lynch, CTO, Michael Smith, COO, Cat Kiernan and President, Cary Zel, Darwin CX is backed by a group of growth equity investors with a common theme of disrupting industries and driving digital innovation including First Ascent Ventures, New Era Capital Partners and Felicitas Global Partners.
About dsb
With dsb fly, the dsb group develops and operates Europe’s leading subscription ecosystem for the publishing industry. Key players in the media industry have been relying on dsb’s holistic and customer-centric monetization solutions for over 50 years. Whether lifestyle products, seminars, events, digital or print titles – the dsb fly ecosystem offers media companies a customized 360-degree customer view of print and digital consumption. This all-round view is the basis for highly individualized worlds of experience and high customer loyalty. dsb fly manages customer relationships along the entire customer life cycle and maximizes subscription retention and sales with accurate subscription offers and highly individualized worlds of experience.
TAGGED WITH: Darwin CX, Liam Lynch, Michael Smith, Cary Zel, dsb, dsb.net, Olaf Bendt, Alex Münch
To find out if Darwin CX and dsb are right for your international business, contact [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/darwin-cx-broadens-global-reach-via-strategic-partnership-with-dsb-302182339.html
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