NIN Ventures, a Chicago-based crowdfunded technology VC firm, has opened an office in India to increase their global presence and expand in the manufacturing sector. NIN has always been on the forefront when it comes to being disruptive and investing in disruptive technologies, it said. However, disruption does not bar geography; thus, in an effort to increase its global presence and expand our reach in the manufacturing sector, NIN opened an India office. India is one of the most competitive nations in the world, equipped with both skilled and unskilled workforce in areas of science, engineering, technology and research, NIN said, adding that it is poised to be the next manufacturing destination of the world. “With talent, technology and domain expertise, NIN is exceptionally positioned to exploit the growing manufacturing market in India. We look forward to riding this success wave with India as it becomes one of the top manufacturing destinations in the world,” said NIN’s Indian American chief executive Nin Desai.
TFS Scholarships Provides $41B in Aid
TFS Scholarships, an online resource for higher education funding, announced its commitment to helping students and their families address the rising costs of school by providing free access to scholarship information. Through its website, TFS connects students to more than 7 million scholarships representing more than $41 billion in aid. Continual increases in tuition fees and other college expenses are critical issues impacting students and families across the United States, particularly those who can’t afford to finance higher education on their own. According to the College Board’s 2016 Trends in College Planning, the average published tuition and fee price in the private nonprofit four-year sector is about 2.3 times higher than it was in 1986-87, after adjusting for inflation, TFS said. As a result of these trends, an increasing number of students must rely on scholarships to attend college or graduate school. “TFS Scholarships was inspired by my own father’s experience as an inner-city high school principal, and grew out of the realization that more could be done to support students searching for college scholarships,” said Richard Sorensen, president of TFS Scholarships. “For more than 30 years, TFS has helped students achieve their higher education aspirations by making it easier to find essential funding for college.” Each month TFS adds more than 5,000 new scholarships to its database in an effort to stay current with national scholarship growth rates – maximizing the number of opportunities students have to earn funding for their education. Since its debut in 1987, TFS has remained a free, online service that connects students with college funding resources to fuel their academic future. The TFS website also provides financial aid information, resources about federal and private student loan programs, and a Career Aptitude Quiz that helps students identify the degrees and professions that best fit their skills.
Serum Institute of India Launches Rabishield
The Serum Institute of India announced the global launch of Rabishield, a rabies monoclonal antibody developed in partnership with the University of Massachusetts Medical School. "The launch of RabiShield represents a watershed moment in the history of treating this disease. While rabies is rare in the United States, worldwide it kills more than 50,000 people a year who often don't have access to the treatment they need," UMass Medical School Chancellor Michael F. Collins said at the launching. The current treatment for someone bitten by a potentially rabid animal is to be vaccinated against rabies, but the vaccine alone is not enough as, in some cases, the disease develops before the vaccine can take effect. The only way to adequately protect the victim is to provide passive immunization via rabies immune globulin, which provides immediate protection with neutralizing antibodies before the immune system begins making its own antibodies. Scientists at MassBiologics developed a rabies monoclonal antibody that might be used in place of human and equine immune globulins. MassBiologics then partnered with the Serum Institute to develop and manufacture the monoclonal antibody in India. "Our new drug, Rabishield, is a first-of-its-kind rabies human monoclonal antibody in the world," said Adar Poonawalla, CEO of Serum Institute of India.
ExtraSlice Raises $1 Million
ExtraSlice, a technology-focused flexible workspace and hybrid technology campus, has raised $1 million to accelerate the company’s growth. ExtraSlice plans to apply the funding to key areas of physical and virtual technology infrastructure and space expansion, as well as sales and marketing. The company is also developing local and global networks of professional service and technology providers to better connect the Seattle-area technology community to the rest of the world. Entirely focused on technology, ExtraSlice was founded by two software engineers who structured the company to provide members with much more than just workspace. “As the Seattle area’s first and only 100 percent technology-focused flexible workspace, ExtraSlice is resonating strongly with tech companies of all size,” said Binu Regunathan, ExtraSlice co-founder and co-CEO. “The time is right to accelerate our growth and we look forward to applying this funding to provide exceptional value to our members while setting a foundation for our continued growth.”
AppZen Secures $13M in Series A Funding
AppZen, an AI solution for back office automation, has raised $13 million in its Series A financing. The investment, which brings the company’s total funding to over $17.5 million, will be used to scale the team and business as AppZen focuses on its growing base of enterprise customers. AppZen provides customers like Amazon, Comcast and Intuit with an automated T&E expense auditing and compliance solution powered by AppZen’s patented AI platform for back office automation that combines Natural Language Processing, Computer Vision and Machine Learning. It automatically detects accidental and intentional fraud as well as errors and misuse, as well as provides real-time compliance to regulatory requirements like anti-bribery laws, FCPA regulations and Healthcare Sunshine laws. “Finding errors in expense reports is like finding a needle in a haystack,” said Anant Kale, co-founder and CEO of AppZen. “We’re giving companies the ability to achieve 100 percent compliance and protect themselves from both intentional and unintentional fraud, a problem estimated at half trillion dollars in the U.S. alone.” The company was founded by Kale and Kunal Verma in 2012 based on the insight that AI could be applied to reducing back office inefficiencies and improving employee productivity.