Here is Read Magazine’s Weekly Roundup of the top news from global markets. In this fast-paced world, breaking down information helps readers grasp the nuances that follow the news.
In Aerospace news this week…
Exolaunch, a global leader in launch mission management, integration, and satellite deployment services, is ready for its next major launch: the Bandwagon-2 Rideshare mission with SpaceX. Building upon the success of the inaugural Bandwagon mission earlier this year, Exolaunch will once again integrate and deploy satellites into orbit for a diverse range of international customers. The Bandwagon-2 mission is scheduled to lift off no earlier than December 2024 from Vandenberg Space Force Base in California.
In Agritech news this week…
Orbia’s Precision Agriculture business Netafim and Bayer announced an expansion of their strategic collaboration, starting with new digital farming solutions for fruit and vegetable growers. By simplifying primary data collection and delivering a system that can generate tailored recommendations from that data, the new solutions aim to help growers maximize crop production and optimize their use of resources, thus minimizing the impact on the environment.
In Automotive news this week…
ROHM Semiconductor and Valeo, a leading automotive technology company, announced they are collaborating to propose and optimize the next generation of power modules for electric motor inverters using their combined expertise in power electronics management. As a first step, ROHM will provide its 2-in-1 Silicon Carbide (SiC) molded module TRCDRIVE pack™ to Valeo for future powertrain solutions.
In BFSI news this week…
Cardless, a leading fintech innovator known for transformative co-branded credit card solutions, announced a $30 million growth investment round led by Activant Capital, with participation from new and existing investors including Mischief (the fund co-founded by Plaid’s Zach Perret), Industry Ventures, Thayer Ventures, Assurant and Amex Ventures. This brings Cardless’ total equity funding to date to over $90 million. Despite industry challenges like rising interest rates and inflation, Cardless has seen more than 10x revenue growth since the start of 2023.
In Biotech this week…
QIAGEN announced the launch of two new tools for designing and ordering custom solutions that can be used to support microbial analysis of bacterial, fungal and viral targets.
These new tools enable researchers to customize their assays and panels for use on the QIAcuity digital PCR system as well as on any third-party next-generation sequencing (NGS) system.
In Defence Technology news this week…
Electra.aero, Inc. (Electra) has completed another military flight demonstration of its hybrid-electric prototype aircraft. The demonstration flights were part of the Thunderstorm 24-4 “Expeditionary Operations” technology showcase sponsored by the Office of the Under Secretary of Defense for Research and Engineering (OUSD(R&E)) in early November. An invitation-only field technology showcase, Thunderstorm 24-4 highlighted Electra’s unique dual-use technologies that support distributed operations of military forces in contested areas.
In Energy, Power and Sustainabilitynews this week…
Topsoe, a global leader in carbon emission reduction technologies, and Aramco, a global integrated energy and chemicals company, have signed a joint development agreement (JDA) to produce low-carbon hydrogen, also referred to as blue hydrogen, using Topsoe’s ground-breaking eREACT™ technology in Aramco’s Shaybah NGL facility. The JDA underlines the two parties’ strategic collaboration and ambitions to bring carbon-reducing technology to the market.
In Food & Beverage this week…
The Middleby Corporation has announced the acquisition of Gorreri Food Processing Technology based outside Parma, Italy. Gorreri is a leading manufacturer of equipment for the baked goods industry, including cakes, pies, muffins, tarts and other desert line solutions. The company operates in a state-of-the-art, 50,000-square-foot facility, which was recently expanded to accommodate growth. Gorreri has revenues of $20 million annually.
In Healthcare this week…
JTS Health Partners, a national healthcare professional services and analytics firm, is excited to announce the appointment of Kevin Smithas Senior Vice President of RCM Transformation, Client Services and Solutions. This new senior leadership position is a strategic addition to support JTS’ rapid growth and client excellence operational model. Kevin will work alongside JTS’ executive team to support the Company’s expansion and strengthen its strategic vision. Kevin will also be a member of JTS’ senior leadership team, playing a pivotal role in driving and managing sustained growth.
In Information Technology this week…
Nominal Secures U.S. Air Force SBIR Phase 2 Contract for Hypersonics
Nominal, a leading defense technology startup specializing in advanced software analytics solutions for hardware development, announced it has been selected by AFWERX for a SBIR Phase 2 in collaboration with the Arnold Engineering Development Complex (AEDC), a U.S. Air Force testing facility located at Arnold Air Force Base. The partnership will empower AEDC to leverage Nominal’s powerful software capabilities to optimize their work processes.
In IoT this week…
Teleo, a company building autonomous technology for heavy equipment, announced it has raised $16.2 million in Series A extension funds in addition to the company’s previously announced Series A funding round. The company will primarily use the funds to scale customer deployments and continue its expansion in new industries that use heavy machinery, such as wheel loaders, terminal tractors, excavators, and more.
In Logistics and Supply Chain this week…
Eos Energy Enterprises, Inc, a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, announced it has signed a Memorandum of Understanding (MOU) with Wabash, a world-class provider of advanced engineering and operational solutions for the transportation, logistics, and distribution industries. The proposed partnership would accelerate Eos’ ability to deliver large-scale battery energy storage systems (BESS) through Wabash’s manufacturing and supply chain expertise and national distribution network.
Radiant Vision Systems, a leading provider of image-based light and color measurement solutions, announces its new ProMetric® I16-G-SC, a combination of an imaging colorimeter & spectrometer for complete color measurement in one solution.
In Retail this week…
Nuqleous, a leader in B2B SaaS solutions specializing in retail analytics and space planning optimization, announced the acquisition of Interactive Edge, a leading software platform for retail insights and reporting automation. Interactive Edge has pioneered category management and sales analytics automation for over 25 years, helping CPG companies transform complex data into compelling insights.
Smartkem, positioned to power the next generation of displays using its disruptive organic thin-film transistors (OTFTs), has partnered with AUO, the largest display manufacturer in Taiwan, to jointly develop the world’s first advanced rollable, transparent microLED display using Smartkem’s technology.
Article of the Week
In today’s fast-paced global economy, efficient logistics is the backbone of successful businesses. The advent of cloud logistics has transformed supply chains, enabling companies to operate with unprecedented agility, efficiency, and accuracy. But what exactly it is, and why is it such a game-changer for industries worldwide?
