Digital Asset DirectCool Trends for Summer!
News Media Group, Inc.
Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
June 20, 2024 03:08 PM Eastern Daylight Time
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News ReleaseComcast Partners with Legendary Mexican Rock Band EL TRI to Provide Sign Language Interpretation for the First Time at Upcoming Music in the Park Concert
Comcast California
Comcast has partnered with legendary Mexican rock band, EL TRI to provide sign language interpretation for their June 22 Music in the Park performance at Plaza de Cesar Chavez in San Jose. This marks the first time that EL TRI, whose lyrics are in Spanish, will perform with sign language interpreters to provide greater accessibility to deaf and hard-of-hearing, fans. Comcast recently announced the availability of live American Sign Language (ASL) interpreting services at eight Bay Area Xfinity Store locations. Customers who need ASL support can visit any of the eight Bay Area Xfinity Stores, where representatives will utilize ASL Video Remote Interpreting (VRI) to access a live interpreter provided by partner, Communication Service for the Deaf (CSD). EL TRI, one of Latin America's most iconic rock bands, will perform as part of San Jose’s popular Music in the Park summer concert series. The addition of ASL interpreters underscores Comcast’s dedication to accessibility and community engagement. "We are thrilled to be part of this wonderful initiative," said Alex Lora, lead singer of EL TRI. "Music is a universal language, and it’s important that everyone, regardless of their hearing ability, can share in the experience and energy of our live performances. We can’t wait to rock out with all our fans in San Jose!" In addition to the interpreting services at the concert and in its stores, Comcast recently announced $60,000 in grants to three community partners: San Francisco LightHouse for the Blind and Visually Impaired, California School for the Deaf and the World Institute on Disability. These grants aim to broaden the scope of digital inclusion and accessibility to deaf and hard-of-hearing students, families, seniors, and community members. The American Community Survey (ACS) estimates that 3.6% of the U.S. population is “deaf or have serious difficulty hearing.” Additionally, according to Pew Research Center, 23% of people with disabilities say they never go online, with 57% saying they do not have a home broadband connection. That’s why, through its Project UP initiative, Comcast is working to address and eliminate the unique barriers to connectivity through a series of efforts, including Internet Essentials, Lift Zones, and skill development and training. Continuing Comcast’s ongoing commitment to diversity, equity, inclusion and accessibility, this event, in collaboration with Pro Bono ASL, aims to make the EL TRI concert more inclusive for the deaf and the hard-of-hearing. “This historical event is meaningful because these interpreters are trilingual. They know Spanish, English and American Sign Language which is creating inclusivity within the Latino deaf community which often tends to be left behind,” said Rorri Burton, Founder and Director of Pro Bono ASL, an organization that specializes in bringing immigrant, first-gen, transracial adoptees, queer, multilingual and multicultural ASL interpreters to concerts, festivals and events across the U.S. “We are grateful to Comcast for demonstrating inclusivity and commitment to the Latino deaf community.” In addition to interpreting the iconic lyrics of EL TRI to fans at the concert, interpreters from Pro Bono ASL will translate the announcers of the traditional Lucha Libre matches that Music in the Park will offer as entertainment to attendees before the concert. The matches will feature local wrestlers such as "El Gladiador del aire” El Viento and "Rey de las pesadillas” El Cucuy. Music in the Park details: • Date: Saturday, June 22, 2024 • Time: Doors open at 4:00 PM • Location: Plaza de Cesar Chavez, San Jose, CA • Special Feature: ASL interpretation provided by Pro Bono ASL, sponsored by Comcast About Pro Bono ASL Pro Bono ASL prioritizes ASL access via culturally qualified interpreters. We work with Deaf, hearing and Deaf-parented sign language interpreters; those who are immigrant, first-gen, transracial adoptees, queer, multilingual and multicultural. Representation is vital, and so are the nuances of culture that impact language. Pro Bono treasures the unique intersectionalities that make our interpreters the perfect fit for the spectrum of members in the Deaf community. As our name, "pro bono" indicates, we work "for the good" of the community. About Comcast’s Accessibility Program For more than a decade, Comcast has invested in making its products, technology, and experiences accessible to the widest possible audience while opening new doors to independence for people with disabilities. These innovations include the Large Button Voice Remote, voted USA Today’s Best Accessible Design remote in 2023, and the Xfinity Adaptive Web Remote. To learn more about Comcast’s groundbreaking accessibility work, visit corporate.comcast.com/accessibility. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. Contact Details Adriana Arvizo +1 925-200-1919 Adriana_Arvizo@comcast.com Company Website https://california.comcast.com/
June 20, 2024 09:00 AM Pacific Daylight Time
News ReleaseFuelRod Launches Free Battery Swaps at Austin-Bergstrom International Airport
Fuel Rod
FuelRod, a leading provider of portable power solutions, today announced an exclusive promotion sponsored by Austin-Bergstrom International Airport (AUS). This groundbreaking initiative, which runs through November 30, allows travelers at AUS to swap their depleted FuelRod chargers for fresh ones at no cost. This marks the first promotion of its kind at any airport, highlighting FuelRod’s commitment to ensuring travelers have reliable access to power and a stress-free travel experience. Travelers passing through AUS can now enjoy the convenience of swapping their depleted FuelRods for fully charged ones up to 10 times per month, free of charge. This hassle-free process can be completed at any of the several FuelRod kiosks throughout the airport by simply selecting the “swap” button, entering a phone number, and exchanging the used rod for a fresh one. Phone numbers are collected to track the 10-use limit. For travelers who prefer not to provide a phone number, the standard swap fee of $1 applies. Austin-Bergstrom International Airport is the first airport to offer such a promotion, setting a new standard for passenger comfort and convenience. This collaboration with FuelRod reflects a shared commitment to keeping travelers charged and connected by ensuring a reliable portable power source for their devices. FuelRod aims for this promotion to inspire similar initiatives nationwide, bringing sustainable charging solutions to travelers across the country. “We are extremely proud of our partnership with Austin-Bergstrom International Airport and their support of our vision for easily accessible, eco-friendly charging for travelers on the go,” said Joe Yeagley, FuelRod Co-founder. “AUS, as the first airport to sponsor the FuelRod “Swap” service, exemplifies Texas hospitality and demonstrates their commitment to providing an elevated experience for their passengers.” About FuelRod FuelRod is a California-based company specializing in portable power solutions. The developer of the FuelRod kit, the first reusable, portable charging system, FuelRod allows you to charge your mobile device on the go and then recharge or swap it for a fresh one. With a growing network of kiosks nationwide, FuelRod ensures your devices stay powered virtually wherever you go. Learn more at fuel-rod.com. Contact Details Razor Sharp PR Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.fuel-rod.com/
June 20, 2024 09:00 AM Central Daylight Time
News ReleaseFueled by Seed Round and Partner Adoption, Synergist Technology Delivers Always-On AI Governance and Compliance
Synergist
Synergist Technology, a leader in Artificial Intelligence (AI) governance and compliance, is poised for expansive growth following the company’s debut in 2023. Upon closing its $5 million seed funding round last month, the company has significantly grown its client base, working with partners like Microsoft to ensure AI solutions meet industry compliance and global governance standards. Synergist Technology's AFFIRM software-as-a-service (SaaS) offering enables users to implement a holistic AI governance framework that encompasses model documents, proactive monitoring of AI policies and assets to detect compliance and model risks, and governance, risk and compliance (GRC) reporting, empowering users to navigate the complexities of the AI governance landscape. “With the global AI market projected to reach $1.81 billion by 2030, it’s imperative to have transparency and compliance integrated into the integrations we’re seeing across industries,” said Elycia Morris, Chief Executive Officer Synergist Technology. “That’s what we’re looking to do at Synergist. We’re encouraged to see our partners prioritize responsible AI and are thrilled to work alongside them in forums such as Microsoft’s Government AI Summit.” With a unique system that tests against published standards and any AI assets, AFFIRM leverages human expertise to manage risks and build trust in client’s AI systems. This safeguard ensures that AI produces fair and unbiased outputs, enhances companies’ reliability and trustworthiness, and ensures alignment with current and future government policies. AFFIRM monitors the performance of AI integration executed by businesses, governments, and consultancies and assists in understanding risks by providing real-time risk assessment dashboards. “I absolutely recognize the growing need for AI compliance, and I believe Synergist Technology is a trusted partner who has shared our vision of understanding the present challenges of both mitigating risk and data compromise in today’s climate of national and global security,” said Vishal Amin, General Manager of Security Solutions, Microsoft. “Their commitment to developing responsible AI compliance tools is both clear and concise. We are beyond excited about the current and ongoing collaboration between both our teams as they empower every organization, agency and governmental entity to achieve more.” “AI uptake is moving at warp speed, and knowing that the information is trustworthy is a real concern for regulators and the public alike,” said Executive Chairman Brad Levine. “Synergist Technology has built a total compliance solution that helps business leaders ensure that their AI systems are used safely and competently. With AFFIRM, we have created a solution that places trust and peace of mind at our clients' fingertips; we help them stay ahead of the compliance curve in an ever-changing AI environment.” With the growing complexity and widespread deployment of AI systems, Synergist Technology’s platform is tailor-made to provide fairness and transparency in AI. This starts by building trust with regulators, the public, and its clients' customers and user bases. About Synergist Technology Synergist stands at the forefront of AI governance & compliance. Our AFFIRM platform helps audit and consulting firms manage AI governance for businesses, government agencies, and AI vendors. We enable organizations to proactively monitor AI policies and assets, detecting compliance and model risks before they escalate. Our commitment to innovation and excellence empowers our clients with complete visibility and control over their AI systems, fostering responsible AI deployment and minimizing compliance and liability risks. To learn more, visit https://synergist.technology/ Contact Details Julia Worthington synergist@kitehillpr.com
June 20, 2024 09:19 AM Eastern Daylight Time
News ReleaseClassiq Collaborates with BMW Group and NVIDIA to Drive Quantum Computing Applicability in Electrical Systems Engineering
Classiq Technologies
Classiq today announced a collaboration with NVIDIA and the BMW Group to optimize mechatronic systems, marking a significant advance in the sophistication of quantum computing implementation in the automotive sector. The initiative is focused on solving a complex computational challenge to find the optimal architecture of electrical and mechanical systems. This problem involves defining the optimal combination of components, from electrical engines and batteries to coolers, and how these should be connected. The goal of this project is to enhance efficiency and reduce energy waste, which can result – among other things – in the increased efficiency of electric vehicles. Classiq’s sophisticated approach demonstrated how cutting-edge quantum algorithms may be used to address the problem, including the Quantum Approximate Optimization Algorithm (QAOA) and the Harrow-Hassidim-Lloyd (HHL) algorithm. The latter of these approaches leverages amplitude and digital encoding to efficiently solve and convert complex linear equations, utilizing a novel Quantum Analog to Digital Conversion (QADC) process. The project resulted in the BMW Group’s quantum experts creating a highly sophisticated quantum program, with many quantum sub-routines, among the most complex quantum programs implemented to date. The implementation was enabled by the advanced modeling and compilation capabilities of the Classiq platform. The large and complex quantum circuit implementation was simulated using NVIDIA GPUs and the powerful NVIDIA CUDA-Q platform. “Our collaboration with Classiq and NVIDIA has enabled an innovative quantum implementation that pushes the boundaries of what is possible in the application to automotive technologies,” said Lukas Mueller, Lead Future Compute at BMW Group IT. “NVIDIA’s quantum stack has been instrumental in simulating this complex algorithm, facilitating its detailed testing and refinement.” “This project exemplifies the power of collaboration in the quantum computing sphere. By bringing together the best of quantum hardware, software and automotive domain expertise, we have achieved groundbreaking advancements in a remarkably short time,” said Nir Minerbi, CEO of Classiq Technologies. “Quantum computing, which has the potential to transform society, will require accelerated computing with extreme performance for users to take full advantage of its value,” said Tim Costa, director of HPC and quantum computing at NVIDIA. “NVIDIA’s collaboration with innovators such as the BMW Group and Classiq is pushing the boundaries of quantum simulation and helping to usher in an era of useful quantum computing.” Quantum computing is still a nascent technology, and further effort is required to bring the developed solution to industrial applicability. Classiq and its collaborators continue to develop the interface between automotive technology and quantum computing by expanding the boundaries of quantum design, implementation, and computation. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC and quantum simulators. Backed by investors such as HPE, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, and visit the Slack community and https://www.classiq.io to learn more. Contact Details Rainier Communications Michelle McMahon mmcmahon@rainierco.com Company Website http://www.classiq.io/
June 20, 2024 08:00 AM Eastern Daylight Time
News ReleaseSaison Technology Invests in DNX Ventures Fund IV U.S. Fund - Strengthening Technological Capabilities and Human Resource Development through AI, SaaS, and Other Startup Collaborations
Saison Technology International
Saison Technology, a global leader in data management and integration, announced investing $10 million in DNX Ventures Fund IV US. Founded in 2011, DNX Ventures (DNX) is a venture capital firm investing in B2B startups from seed to late stage, primarily in North America and Japan. It has over 190 portfolio companies with 23 exits and over $630 million under management. Saison Technology has been expanding its data management and integration business since its 2023 launch of HULFT Square, the company’s cloud-based iPaaS solution that is gaining significant adoption in Japan, Europe, and the United States. Through this investment in DNX, Saison Technology will collaborate with DNX’s portfolio of AI, SaaS, and other startups in North America and Europe, providing transformational products, services and support to them and collaborative solutions for their clients. “We are very pleased to have Saison Technology as a limited partner in Fund IV,” said Mitch Kitamura, Managing Partner/COO at DNX Ventures. “Beyond providing venture capital, we aid our portfolio companies with value-added resources through collaboration with our limited partners. Saison Technology is a market leader with many decades of experience helping companies of all sizes with digital initiatives. Through its commitment to Fund IV, Saison Technology will help guide our portfolio companies in expanding their businesses.” “As companies continue to purchase and implement cutting-edge cloud and AI technologies, having a proven platform to integrate them with existing enterprise applications and legacy data systems is essential,” said Makoto Hayama, President and CEO of Saison Technology Co. LTD. “Our company is one of the only providers that offers data management and integration solutions in the cloud, on-premise and as a managed service. We will provide these options to the DNX portfolio and their customers so that they have ultimate flexibility as they navigate more complex IT architectures.” About DNX Ventures DNX Ventures is a venture capital firm based in Silicon Valley and Tokyo that has been investing in B2B startups since 2011, primarily in the US and Japan. To date, in addition to the four main funds, we have managed a total of 11 funds including Annex and Seed, with a total of approximately $630 million USD (¥99 billion JPY), invested in 190 startup companies mainly in the US and Japan, and led 23 companies to exit. Among B2B startups, our main investment areas are AI, Enterprise SaaS, Deeptech, Climate Tech, Retail Tech, and Fintech, all of which we invest in at the early stage. Additionally, DNX Silicon Valley Team actively supports large corporations’ Open Innovation activities by leveraging Silicon Valley’s ecosystem. Running over 70 programs annually to foster talent development to support Open Innovation and has helped create collaborations between over 200 companies and overseas startups. By leveraging this experience, network, and knowledge, we aim to further collaborate between Japanese corporations and overseas startups and create new businesses. For more information, visit https://www.dnx.vc/jpfund-en/top. About Saison Technology Saison Technology (TYO: 9640) has helped more than 10,000 global enterprises move critical information, streamline data flows, and automate processes to instantly put knowledge where it is needed. Knowledge empowers people, inspires strategy, and transforms businesses and markets. In the right hands, in the right place, it is much more than a set of facts. Knowledge is a force that can inspire innovation, drive profits, and affect positive change. For more information, please visit https://saison-technology-intl.com. Contact Details Saison Technology International Kurt Foeller +1 415-588-6390 kfoeller@saison-technology-intl.com Company Website https://hulftinc.com
June 19, 2024 07:27 AM Pacific Daylight Time
News ReleaseUnveiling the Food, Beverage & Restaurant Trends Set to Revolutionize Dining Experiences in 2024
YourUpdateTV
Whether you're indulging in a quick bite on the go or savoring an elegant, fine dining experience, discover how restaurants are integrating fresh flavors, cutting-edge technology, and eco-friendly solutions to transform your dining experience. A nationwide media tour was conducted live from the National Restaurant Association Restaurant, Hotel-Motel Show®, featured industry experts Christine Johnson and Caitlin Rodgers, who provided an exclusive, behind-the-scenes look at the latest food trends and culinary innovations that are setting the stage for the future of dining. A video accompanying this announcement is available at: https://youtu.be/4mSjocVU8Rg Topics that were discussed with stations across the country live from McCormick Place in Chicago at the National Restaurant Association Show included: • The latest restaurant industry trends, news, and insights from the Show floor. • The dynamic mix of flavors that are igniting creativity and innovation in food and beverage menus across the nation. • How technology is elevating the dining experience — from enhancing customer loyalty to automating pick-up and drive-through ordering • Advancements in sustainability and zero-waste initiatives. The National Restaurant Association Restaurant Show stands as the epicenter of foodservice innovation and inspiration, the most pivotal, must-attend event for professionals from every corner of the industry. This year, the Show attracted more than 58,000 foodservice professionals from across the United States and around the globe, representing 124 countries. The Show floor spanned over 723,400 square feet—over 12 football fields—offering attendees the opportunity to explore products and services from 2,240 exhibitors across more than 900 categories. Plans are already underway for the 2025 National Restaurant Association Show, which will take place from May 17-20 at McCormick Place in Chicago. For more information and to relive the highlights of the 2024 Show, visit www.nationalrestaurantshow.com. ### About The National Restaurant Association Show The National Restaurant Association Restaurant, Hotel-Motel Show® is the Western Hemisphere's most influential foodservice event showcasing industry innovations and trends. Each year (starting in 1919), the Show brings together restaurant operators and foodservice professionals for four days of celebrity-led demos, exhibits, sampling, education and networking. The Show unites a global community and enables exploration of the latest advancements in food, beverage, equipment, technology and solutions driving the industry forward. The Show is owned and operated by Informa in partnership with the National Restaurant Association. Visit www.nationalrestaurantshow.com for more information. About Informa Informa is a leading international B2B markets, live and on-demand events and digital services group. They connect businesses and professionals in 30+ industries with the knowledge they need to learn more, know more and do more. Informa has hundreds of global brands, products and services and employs 11,000 employees in ~30 countries worldwide. Informa Connect is a content-led, live and on-demand experiences business which connects professionals with knowledge, ideas and opportunities. Informa Connect, a community of over 1,000 colleagues globally, offers connection through events, media and research. They service a number of different industries including Foodservice, Finance, Bio Tech and Pharma, Pop Culture, Marketing, Law, Energy, HR, Sustainability, Construction. Visit Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com
June 18, 2024 03:19 PM Eastern Daylight Time
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News ReleaseAI evaluation start-up Maxim AI raises $3M from Elevation Capital to help enterprises test and rapidly ship AI products
Maxim AI
Maxim AI, an enterprise-grade evaluation and observability platform for AI applications, announced a $3M funding round led by Elevation Capital. The round also saw participation from marquee angel investors including founders of Postman, Chargebee, Groww, Razorpay, Media.net, among others. With the infusion of capital, Maxim announced the General Availability (GA) launch of their platform, marking a significant milestone in their journey. With the recent explosion of large language models, the race to build & deploy AI applications has intensified. Traditionally, software was built in a deterministic paradigm with standardised best practices for predictably testing performance and systematically improving products, tightly integrated into the development lifecycle. Generative AI products, however, are getting built in a non-deterministic paradigm with unpredictable variability in quality and performance depending on factors including models, parameters, data or context, or simply the framing of the question. Moreover, challenges around hallucinations, inaccuracies, safety, and output structure lead to compromised user experiences and reputational risks for organisations. Organisations are resorting to non-scalable techniques, high-paid manual effort, and tediously slow iteration cycles as they test and ship their AI into production. Founded in 2023 by Google-Postman duo Vaibhavi Gangwar and Akshay Deo who collectively bring over a decade of experience in building AI and developer-focused tools, Maxim aims to bring the best practices of traditional software development to streamline AI development workflows. Maxim’s infrastructure, which sits between the foundational model and application layers of the AI stack, is deeply focused on AI developers who comprise the traditional AI/ML engineers as well as the emerging class of backend engineers now leading AI development across organizations. The Maxim stack provides end-to-end AI evaluation across the development lifecycle: right from prompt engineering, pre-release and post-release testing for quality and functionality, to data management and fine-tuning. While the automated evaluation platform by itself helps teams ship products >5x faster, the platform also offers the critical last-mile for evaluation including support for human evaluation as well as custom datasets and models. “ Even though we are seeing tremendous value creation in the AI hardware and foundational model stack, for the benefits to be realized meaningfully up the value chain, we need the products built on top of the generative AI stack to be trustworthy and reliable. This makes evaluation a very critical piece of AI infrastructure. However, today there is no standardization in the generative AI testing space unlike traditional software development. That’s where Maxim comes in: with our users, we have become this very core piece of infrastructure that is powering high quality AI development, streamlining team collaboration, and saving development teams hundreds of hours per month, ” said Vaibhavi Gangwar and Akshay Deo said in a joint statement. Talking about the investment Akarsh Shrivastava, Principal, Elevation Capital said, “ Maxim AI is addressing a crucial need in the evolving AI landscape. Their focus on creating a standardized, scalable evaluation infrastructure addresses a deep pain point for AI developers. As the complexity and diversity of AI use cases continue to rise, Maxim's platform will play a critical role in ensuring trustworthy and reliable AI systems. We are super excited to partner with Vaibhavi and Akshay as they build Maxim into a critical piece of this AI catalyzed paradigm shift we are going to see. ” So far, in private beta, the company has attracted multiple global customers who are at the forefront of the AI revolution. Looking ahead, Maxim is committed to expanding its platform capabilities including proprietary domain-specific evaluations for quality and security as well as its data engine to accelerate reliable and scalable deployment of AI products. The company plans to use the funds to expand its world-class team and scale its operations to partner with more leading enterprises building AI products. About Maxim AI Founded by Vaibhavi Gangwar and Akshay Deo, professionals with over a decade in AI and developer tools at top technology firms (including Google, Postman, and Slack), Maxim AI is the generative AI evaluation and observability platform for modern AI teams. It streamlines the entire AI development lifecycle from design to production, enabling faster, reliable, and high quality deployment of AI across organizations. About Elevation Capital Elevation Capital is a leading venture capital firm that provides seed and early-stage capital for emerging companies in India. Having invested in India since 2002, Elevation has deployed over $2.6 Bn of capital in 190+ companies. The firm announced its eighth pool of capital of $670 million in April 2022. Co-led by Managing Partners Ravi Adusumalli and Mukul Arora, along with Partners Mridul Arora and Mayank Khanduja, the firm has invested across Consumer Internet, SaaS, Fintech, Consumer Brands, Edtech, Healthtech and Deeptech. Elevation Capital has offices in Bengaluru and Gurgaon. Contact Details Maxim AI Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.getmaxim.ai/
June 18, 2024 09:00 AM Eastern Daylight Time
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News ReleaseProsperr.io Secures Funding to Launch AI Tax Management Solution for US Individuals
Prosperr.io
Prosperr.io, A leading Fintech Platform, solving tax for individuals, has secured a $1.55 Million pre-seed funding round. The round was led by Gokul Rajaram, a Board member at Pinterest and Coinbase, and prominent investor, known for backing exceptional companies like Faire, Figma, and Airtable. The round also saw participation from notable angel investors including Vinodh Bhat (Co-founder JioSaavn), Ramakant Sharma (Founder Livspace), Kunal Shah(QED Ventures), Saurabh Jain (CEO, Livspace), among several others. Founded in March 2022, Prosperr.io offers a subscription-based product designed to manage income tax comprehensively for individuals, ensuring maximum eligible tax savings and compliance. By using deep-tech products powered by AI, the company aims to create a digitally intelligent solution, benefiting millions worldwide. The capital raised will be used primarily to launch the product in the US market. "With the growing population of high tax-payers and the ever-changing complexity of income tax regulations, there's a need for user-friendly, technology-driven solutions. Our mission is to address this challenge by developing AI-powered solutions that redefine tax management and help our customers save money while achieving their financial goals. We've already seen significant traction in India market with employees of 1,500 companies using Prosperr.io.” Manas Gond, CEO & Co-founder, of Prosperr.io. They have launched the “Super Saver” product for the India market. It's an AI powered tax management product. The “Super Saver” product tracks subscribers’ income and spending in order to provide a continually-updated snapshot of what they owe in tax, and to recommend strategies for reducing the liability while remaining compliant. An AI-driven engine sitting behind, scans tax codes and curates personalized recommendations for each user according to the reliefs their financial affairs may qualify them for. They are planning to launch the Super saver for people in the US market by 2024. They are raising more funds to evolve their AI solution to work across geography & laws. The Super Saver product has gained very good traction with 7,000 taxpayers signed up so far. Prosperr’s founders expect to secure annual recurring revenues of $1 million within the next month or so. On the funding, Gokul Rajaram, Investor, Board Member - Coinbase, Pinterest and The Trade Desk states, "I'm excited to support the Prosperr team on their mission to build the best tax optimisation platform for consumers not just for India but for the world. The world of taxes is complicated and confusing, and Prosperr's AI platform helps individuals and employees stay compliant while maximizing tax savings." International expansion is an important part of the strategy for achieving that goal, with Prosperr now planning a launch into the US market, another country where income tax compliance is different. They are developing a smart AI-Engine to work on any tax-codes and jurisdictions, which supports their vision to go global in the coming future. On the funding, Dev Kumar, CPTO & Co-Founder of Prosperr.io says, “ We are building a constitutional AI agent to solve tax globally. Our product philosophy has always been to build products personalized for the users. We understand user’s financial data in depth to generate capability to develop AI-solutions to simplify personal-finance in future for the users across the globe. Our next step is launching in the US market to amplify.” About Prosperr.io Prosperr.io, a new-generation fintech company, is an AI-driven platform that simplifies tax management for individuals. It was founded in March 2022 by Manas Gond & Dev Kumar with a vision to streamline personal finance and help customers achieve their financial goals. The company offers two core products: the Super Saver Product, which helps individuals plan & save their taxes efficiently, and the FBP Benefit Product, which enables employers to provide non-taxable allowances. This helps people increase their take-home salary through their easy-to-use FBP product for claiming non-taxable allowances. Prosperr.io is committed to making tax simple for people through innovative AI solutions. Contact Details Prosperr.io Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.prosperr.io/
June 18, 2024 09:00 AM Eastern Daylight Time
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