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Tensorflight, an artificial intelligence and imaging-based insurtech, has announced a Series A funding round to accelerate market penetration and product optimisation across the multi-billion-dollar property insurance data analytics market.
The investment was led by QBE Ventures and includes new investors Tareyton Venture Partners and ff Venture Capital Poland. Participating prior investors include ff Venture Capital and HSCM Bermuda.
Tensorflight combines superior satellite, aerial and street level imagery understanding technology, with a proprietary Artificial Intelligence engine to automate commercial property inspections. The benefits it delivers across the global insurance industry include:
• Reduction of premium leakage
• Instant, automated insurance policy
Norwegian start-up OptoScale has raised EUR4.1 million in a financing round led by SWEN Capital Partners, a specialist in unlisted sustainable investment, with additional participation from the Norwegian fund Skagerak Maturo.
OptoScale’s ambition is to use data to improve the real-time monitoring of fish farms and the sustainability of farming conditions in the sector. With this funding, the start-up intends to accelerate the deployment of its technology and continue its expansion in the markets where it is already present, Norway, Scotland and Canada, as well as establishing itself in Iceland, Chile and Australia.
Founded in 2015 by Sven Jørund
Sole Source Capital (SSC), an industrial-focused private equity firm, has held the final closing of its second fund, SSC Partners II (Fund II), with aggregate total commitments of USD555 million.
Fund II was significantly oversubscribed with an initial target of USD400 million and reached its hard cap. With the closing of Fund II, Sole Source Capital now manages in excess of USD1 billion just three years after the launch of Fund I.
Since 2016, Sole Source has completed 24 transactions focusing on driving rapid value creation in lower middle market companies. The Firm is often the first institutional capital partner
Corporate finance boutique Rickitt Mitchell has acted as advisor to certified pre-owned watch specialist Xupes on its strategic partnership with MPN Marketplace Networks.
The group owns digital marketplace Chrono24, the German pre-owned watch firm Zeitauktion and online watch magazine Fratello.
Founded in 2009, Xupes facilitates the buying, selling or exchange of luxury pre-owned watches, handbags and jewellery from the world’s leading brands including Rolex, Omega, Tag Hauer and Cartier.
Earlier this year, the company featured on Channel 4’s ‘Second Hand for 50 Grand’ documentary, which followed the fortunes of Xupes to show the progression of the pre-owned market.
Apex Group has appointed Declan Byrne to the newly created role of Head of Loan Agency, Corporate Solutions.
In this role, Byrne , who is based in Dublin and reports to Michael Carroll, Head of Corporate Services, Ireland, will oversee the continued development and growth of the Group’s Loan Agency services.
Byrne brings over 18 years of valuable experience within the Financial Services industry and joins Apex from BNY Mellon, where he held the role of Group Vice President in the Client Services team. Prior to this, Byrne held senior roles at major financial institutions including Head of Loan
ORIX Corporation USA (ORIX USA) has appointed Jordan Robinson as Managing Director and Head of Investor Solutions within its asset management business.
Robinson joins the firm from Fairview Capital Group, where he was Senior Partner, Global Syndication and LP Communications. He reports to Charlie Gilroy, Chief Operating Officer of ORIX USA’s asset management business and is based in the firm’s New York office.
Robinson has over 23 years of experience in investment management, with a focus on fundraising, business development, deal syndication and investor relations. In his new role, he will oversee capital raising for ORIX USA’s asset management business
Ohi, an instant commerce platform that enables brands to meet their customers’ expectations of superfast delivery in under two hours, has completed a USD19 million Series A funding round.
Ohi will use the funds to expand its US operations to enable near-instant delivery of everything from CPG products to luxury goods in 25 markets.
The funding round was led by Palm Drive Capital, a New York–based venture capital and growth equity fund, with participation from JAM Fund, a Los Angeles–based venture capital firm led by internet entrepreneur Justin Mateen. Health-Ade, SolaWave and Untuckit are among the beverage, CPG, beauty and
One Equity Partners (OEP), a middle market private equity firm, has exited its investment in PS Logistics, flatbed transportation and full-service logistics provider in the United States.
Financial terms of the private transaction have not been disclosed.
Founded in 2004 and headquartered in Birmingham, Alabama, PS Logistics provides nationwide freight transportation, brokerage, third-party logistics and supply chain services. The Company manages a fleet of over 3,500 tractors and operates a full-service, “asset-right” business model with a driver-centric culture. During OEP’s three-year investment period, PS Logistics’ EBITDA doubled, driven by strong organic growth and strategic acquisitions.
Following OEP’s investment in PS
HBM Holdings (HBM) has acquired Control Devices, a portfolio company of Goldner Hawn founded in 1963, and a designer and manufacturer of highly engineered flow-control products utilised in niche applications across a diverse array of end markets.
The acquisition expands HBM’s portfolio in the industrial components space, adding Control Devices to the existing roster of Mississippi Lime Company, Aerofil Technology, HarperLove, and Schafer Industries.
“Control Devices’ application engineering expertise, design content, and proven growth strategy make them an outstanding fit for the HBM portfolio,” says Anderson Fincher, CEO of HBM. “We see a terrific opportunity to support the management
Paradigm, a provider of practice management software and integrated payments to the legal industry, has secured a strategic growth investment from Francisco Partners, a global investment firm that specialises in partnering with technology businesses.
The investment will provide Paradigm with a new financial partner to help it capitalise on its current momentum and continue to drive product innovation and growth. Paradigm was formed by ASG, a software platform company backed by Alpine investors, a people-driven private equity firm.
Paradigm has grown substantially in recent years as law firms increasingly demand cloud-based solutions that solve substantial complexity but are still
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