Transaction reflects realization of CC Capital’s vision to accelerate growth and position the business for its next phase

NEW YORK, Nov. 10, 2026 — CC Capital, a private investment firm focused on investing in and operating high-quality businesses for the long term, and Motive Partners (“Motive”), a private investment firm exclusively focused on financial technology and technology-enabled business services, today announced an agreement to sell Wilshire, a global investment advisory, solutions and analytics firm, to Marsh (NYSE: MRSH), a leading global professional services firm. 

Since investing in Wilshire in 2021, CC Capital and Motive have worked alongside management to bolster the business through a strategic value creation program, including:

• Modernizing technology and data infrastructure, including platform investments in cloud and API-enabled technology and cybersecurity;
• Advancing AI-enabled operating workflows;
• Investing in product development to translate Wilshire’s proprietary intellectual property into new investment solutions;
• Rearchitecting the company’s go-to-market approach to expand its sales pipeline, strengthen client coverage and improve sales execution;
• Reshaping the portfolio around high-growth businesses in priority markets positioned for continued expansion;
• Completing the strategic acquisitions of XTP, ParkLexington, and Lyxor, resulting in the expansion of alternatives and institutional hedge fund managed accounts offerings, and deepening connectivity with financial intermediaries and retirement providers; and
• Strengthening leadership through the appointment of key executives, including current Executive Chairman Tom Sanzone, as well as the expansion of talent recruitment and development across the C-suite.

“When we originally invested in Wilshire, we saw a clear opportunity to build on the firm’s five decades of expertise and strong client relationships while positioning the business for its next phase of growth,” said Chinh Chu, Founder and Senior Managing Director of CC Capital. “We are proud to have supported management and the company through investments in talent, technology and data, and believe this is a strong outcome for all of the company’s stakeholders.”

“In partnership with Wilshire, we executed a focused value creation strategy to accelerate organic revenue growth through product innovation, technology-enabled workflows and a stronger go-to-market approach, complemented by strategic acquisitions that expanded Wilshire’s capabilities and reach,” said Douglas Newton, Co-Founder and Senior Managing Director of CC Capital. “The management team’s dedication and execution were instrumental in advancing that strategy. We especially thank Tom Sanzone, whose leadership has been central to driving innovation and reinforcing Wilshire’s market-leading position.”

“Over the past several years, we have materially strengthened Wilshire’s platform, expanded our capabilities and sharpened our focus on the needs of our clients,” said Jason Schwarz, Chief Executive Officer of Wilshire. “We are grateful for our partnership with CC Capital, and for the commitment of our employees, clients and Board. Joining Marsh’s investment business will enable Wilshire to build on that progress and continue delivering independent insight, investment solutions and technology-enabled services to clients globally.”

Wilshire now stands apart by pairing a 50-year heritage in investment consulting, indexing and fiduciary advice with a modern, fully cloud-based, API-enabled platform built around a unified data and analytics stack that spans investment solutions and alternatives. With data as its core asset, Wilshire boasts a differentiated investment solutions and analytics platform featuring capabilities that now include:

• Advisory services across approximately $1.6 trillion of client assets¹ and management of approximately $221 billion in assets²;
• Wealth and retirement solutions supporting thousands of defined-contribution plans; and
• A differentiated alternatives business, including hedge fund managed accounts and private markets solutions.

The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and other customary closing conditions.

About CC Capital
CC Capital Partners is a private investment firm based in New York, NY that was founded in late 2015 with a focus on investing in and operating high-quality businesses for the long term. The firm evaluates investments anticipating a hold-period well beyond that of a typical private equity firm and funds its investments through a variety of permanent capital sources. CC Capital frequently partners with highly seasoned executives, managers and owners seeking to create significant value post-acquisition. More information on CC Capital can be found at www.cc.capital.

About Wilshire
Wilshire is a global investment advisory, solutions and analytics firm and trusted partner to a diverse range of leading institutional investors and financial intermediaries. Wilshire advises on over $1.6 trillion in assets and manages $221 billion in assets as of June 30, 2026. Wilshire is headquartered in the United States with offices worldwide. More information on Wilshire can be found at www.wilshire.com.

Media Contacts:
Kate Thompson / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
+1-212-355-4449
[email protected]   

¹ This AUA is presented as of June 30, 2026, and was provided independently by Wilshire. It refers to the total amount of assets (inclusive of assets under management) attributable to all of Wilshire’s advisory relationships, including various consulting and advisory relationships for which Wilshire provides investment advisory services without engaging, on either a discretionary or non-discretionary basis, in the direct management of a client’s portfolio.

² The AUM is presented as of June 30, 2026, and was provided independently by Wilshire. This figure refers to the amount of assets attributable to securities portfolios for which Wilshire provides discretionary and non-discretionary asset management services and may be different from Regulatory Assets Under Management as presented in the firm’s ADV.

SOURCE CC Capital

Investment to Accelerate iCareManager’s Mission to be the System of Record for Intellectual and Developmental Disability and Human Services Providers

• iCareManager receives growth investment from Five Elms Capital to build a leading AI-native platform for intellectual and developmental disability (IDD) care providers
• Funding will modernize the platform, expand AI capabilities, extend go-to-market reach, and grow the senior leadership team
• High-quality customer support remains core to the strategy as iCareManager serves a growing provider base
• Five Elms brings deep experience scaling vertical AI-native software businesses

COLUMBIA, Md., Nov. 10, 2026 — iCareManager, a leading EHR and care management platform purpose-built for providers supporting people with intellectual and developmental disabilities (IDD), today announced a strategic growth investment from Five Elms Capital. The partnership will accelerate product innovation, expand AI capabilities, grow the leadership team, and extend iCareManager’s reach to more provider organizations across the U.S.

IDD providers operate in one of healthcare’s most complex environments, navigating state-specific Medicaid waivers, service authorizations, billing, EVV, medication management, and compliance amid workforce shortages and financial pressure. Since 2011, iCareManager has simplified these challenges with technology built specifically for the IDD community.

iCareManager is a unified platform that connects clinical care, service delivery, compliance, workforce management, and billing for human services providers. It brings person-centered planning, eMAR, documentation, scheduling, and Medicaid billing into one view, with built-in support for state-specific rules and EVV. White-glove onboarding and ongoing support help providers adopt it with confidence.

“Over the years, we’ve built iCareManager with a clear purpose: to make technology work better for the people who provide support and care,” said Kamal Sheikh, Co-Founder and CEO of iCareManager. “We’re now entering a new era where AI will fundamentally change how people work and interact with technology. The next generation of software won’t just help people manage their work; it will increasingly work alongside them. Five Elms understands what we’ve built, the market we serve, and where we want to go. This partnership gives us the resources and expertise to accelerate that vision, continue innovating, and bring more value to the providers who rely on us every day.”

With Five Elms Capital’s investment, iCareManager plans to advance the modernization of its technology platform while expanding its next generation of AI-enabled capabilities. “So much of a provider’s day runs through iCareManager, from support plans and medication administration to compliance and billing, all on a single record,” said Zach Gornet, Vice President at Five Elms Capital. “The AI capabilities the team is building will take real administrative weight off direct support professionals so they can spend more time with the people they serve.”

Building on its integrated foundation, iCareManager is developing practical, responsible AI tools that simplify documentation, surface relevant information, and support clinical and operational decisions, reducing administrative work so staff can spend more time on quality care.

“20 years inside the daily work of IDD and assisted living providers has given iCareManager a deep understanding of the data and information behind every service delivered, and that is where AI changes everything,” said Babar Nawaz, Co-Founder & COO of iCareManager. “AI will never replace the human. It will replace the admin work and the tedious work, so staff can spend their time helping individuals and residents in a much better way. With Five Elms behind us, this is a game-changing moment for iCareManager. We now have the backing to bring better, safer technology and better AI to every provider out there. The next chapter is going to be very exciting, and we are just getting started.”

As iCareManager enters its next phase of growth, its mission is unchanged: giving organizations that support people with intellectual and developmental disabilities technology that simplifies operations, strengthens compliance, and frees caregivers to spend more time with the people they serve.

Austin Gideon, Principal at Five Elms Capital, commented on the investment: “Five Elms backs category-defining software built by exceptional teams, and iCareManager is exactly that. The company has become essential for agencies supporting people with intellectual and developmental disabilities. We’re proud to partner with the iCareManager team on the next phase of growth.”

Vista Point Advisors acted as the exclusive financial advisor to iCareManager. 

About iCareManager

iCareManager is a cloud-based EHR and care management platform for IDD, assisted living, and human services providers. Founded in 2011 and headquartered in Columbia, Maryland, the platform unifies care planning, documentation, eMAR, incident reporting, staff management, attendance, and billing and claims in a single system, and is extended by AI products that automate documentation, medication safety, care planning, and claims. iCareManager is SOC 2 Type II certified and HIPAA compliant. For more information, please visit icaremanager.com. 

About Five Elms Capital

Five Elms Capital is a growth investor in vertical AI-native businesses disrupting legacy software. We provide capital and resources to help companies accelerate growth and further cement their role as industry leaders.

With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in more than 70 software platforms worldwide. Beyond providing capital, Five Elms delivers strategic and operational expertise, focused on executing initiatives that move the needle on AI, growth, retention, and product to set companies up for long-term success.

SOURCE Five Elms Capital

Global Made to Order™ startup builder sur mesure va ouvrir un bureau à Austin, dirigé par son PDG Ron Kornfeld.

AUSTIN, Texas, 10 novembre 2026 — XLIO a obtenu 100 millions de dollars supplémentaires pour porter son financement total disponible à 150 millions de dollars. Les fonds seront utilisés pour la création de startups sur mesure à l’intention d’entreprises technologiques de premier plan. Le PDG Ron Kornfeld dirigera le nouveau bureau d’Austin, au Texas.

La solution « Made to Order » offre aux organisations une voie différente pour accéder aux nouvelles technologies. Plutôt que d’acheter une entreprise existante et de l’adapter, le client définit précisément les capacités dont il a besoin. XLIO finance et crée ensuite une start-up dédiée à sa mise en œuvre, implantée et constituée à l’endroit qui convient le mieux au client. Une fois que l’entreprise atteint les indicateurs clés de performance convenus, généralement dans un délai d’un à trois ans, le client acquiert à la fois l’équipe et la technologie. Les transactions se situent généralement entre 10 et 50 millions de dollars.

Ce nouveau financement permet à XLIO de mener en parallèle davantage de projets Made to Order et d’étendre le modèle à de nouveaux secteurs et zones géographiques.

Le bureau d’Austin, situé au 801 Barton Springs Rd, Austin 78704, Texas, rapproche XLIO des ingénieurs talentueux, des fondateurs et des acheteurs d’entreprises auxquels Made to Order s’adresse. Les startups basées à Austin ont levé un montant record de 7,19 milliards de dollars en financement de capital-risque en 2025, soit une hausse de 64,8 % par rapport à 2024, selon Crunchbase.

L’écosystème des start-ups dans la région a des racines profondes. IBM, Texas Instruments et Motorola ont ouvert des filiales à Austin entre 1967 et 1974, et Dell a été fondée dans la ville en 1984. Leur présence précoce a permis de constituer un vivier de talents en ingénierie qui a ensuite attiré les sièges sociaux d’entreprises telles que Tesla dans la région et qui alimente aujourd’hui une nouvelle vague de start-ups.

« L’écosystème des startups à Austin est dynamique », a déclaré Ron Kornfeld, PDG de XLIO Ventures. « On y trouve un vivier exceptionnel d’ingénieurs talentueux, un flux constant de fondateurs expérimentés et un milieu des affaires qui soutient les nouvelles entreprises. J’ai déménagé ici parce que je veux que nos clients en profitent aussi. La solution “Made to Order” permet aux entreprises de tirer parti du talent et du rythme d’Austin pour obtenir la technologie exacte dont elles ont besoin, conçue par une équipe qui se consacre exclusivement à cela. Ce financement va nous permettre d’aider beaucoup plus d’entre eux à s’implanter ici. »

À propos de XLIO

Fondée en 2020 et basée à Londres et à Seattle, XLIO Ventures offre aux organisations une nouvelle voie pour acquérir la technologie dont elles ont besoin. Grâce à son modèle Made to Order™, XLIO finance et construit une société technologique dédiée aux besoins précis d’un seul client, puis la lui transfère par acquisition uniquement une fois les objectifs de performance convenus atteints. Dirigée par son PDG Ron Kornfeld et soutenue par des fonds de capital-investissement, XLIO travaille avec des fournisseurs de technologies et d’autres grandes organisations qui se démarquent en investissant dans leur propre technologie propriétaire. Pour en savoir plus, consultez xl.io.

Contact avec les médias

Andrew Moloney, XLIO Ventures, [email protected]

TOKYO, Nov. 10, 2026 — BionicM Inc. (Headquarters: Bunkyo-ku, Tokyo; President & CEO: Xiaojun Sun; hereinafter “BionicM”), a developer of next-generation powered prosthetic legs applying humanoid robotics technology, today announced that it has raised JPY 710 million (approximately USD $4.5 million) in the first closing of its Series B round, which includes prior investments via J-KISS convertible equity. This brings the company’s total funding to date to JPY 2.58 billion, encompassing both equity financing and government grants.

■ Key Investors in This Round

B Dash Ventures Inc.
Mitsubishi UFJ Capital Co., Ltd.

In addition, overseas investors and individual angel investors joined this closing.

■ Background and Objectives of the Fundraising

Guided by its mission, ‘Powering Mobility for All,’ BionicM develops and commercializes powered prosthetic limbs that integrate robotics with the human body, built upon research breakthroughs originating from the University of Tokyo.

To date, through its motorized powered prosthetic knee “Bio Leg®,” BionicM has achieved significant milestones, including U.S. FDA Class II medical device registration, PDAC-verified reimbursement codes, and the establishment of local commercialization operations in the United States. In 2026, the company’s technological and commercial achievements were recognized with the prestigious Minister of Economy, Trade and Industry Award at the University-Launched Venture Awards.

The newly procured funds will be allocated toward reinforcing the production infrastructure and expanding sales and marketing capabilities in the United States ahead of the commercial launch of its next-generation product, “ASISTA™,” scheduled for 2027.

■ The U.S. Prosthetics Market Today: An Inflection Point for the Adoption of Powered Technologies

The landscape surrounding prosthetics in the United States is undergoing a significant transformation. With the rising prevalence of diabetes and an aging population of prosthetic users, there is a growing demand for prosthetics that go beyond merely supporting body weight. Users are increasingly seeking solutions that actively assist movement, reduce physical strain, and enable smoother daily living.

Meeting this demand are powered prosthetics—equipped with active movement-generating capabilities that apply humanoid robotics technology. Recognized for their ability to address real-world patient challenges, these solutions gained significant regulatory momentum in 2025 with the introduction of new reimbursement codes specifically designated for electromechanical control (via motors and actuators), distinct from traditional fluid control (hydraulic and pneumatic systems). This regulatory milestone is strongly accelerating the market penetration of motor-controlled prosthetic technologies across the United States.

■ About the New Product “ASISTA™”

ASISTA is a pioneering electromechanical Microprocessor Knee (MPK) in the U.S. market, engineered with an innovative “Flexion and Extension Assist” mechanism.

While conventional MPKs rely primarily on passive microprocessor-controlled hydraulic resistance (braking systems), ASISTA utilizes proprietary robotic actuation technology and advanced control algorithms to actively assist both knee flexion (bending) and extension (straightening). Together, ASISTA’s flexion and extension assistance is designed to help users walk with greater confidence across grass, gravel, slopes, and uneven terrain; walk farther with less fatigue by reducing effort with each step; stand up with less effort through smoother sit-to-stand transitions and reduced reliance on upper-body compensation; and feel added stability when it matters most through controlled assistance during standing and walking.

■ Executive & Investor Comments

Xiaojun Sun, Founder & CEO of BionicM Inc.:

Hiroyuki Watanabe, Representative Director of B Dash Ventures Inc.:

Yuichi Nishio, Executive Officer & General Manager of Investment Division III, Mitsubishi UFJ Capital Co., Ltd.:

■About BionicM Inc.

BionicM was founded based on research spearheaded by Sunny Xiaojun Sun during his doctoral studies at the University of Tokyo under the mentorship of Professor Masayuki Inaba (now Professor Emeritus), supported by the START Program of the Japan Science and Technology Agency (JST). Using humanoid robotics technology as its core foundation, BionicM is a global startup dedicated to its mission of “Powering Mobility for All,” developing and commercializing powered prosthetics that significantly enhance the mobility and quality of life (QOL) of lower-limb amputees worldwide.

Note: Bio Leg® incorporates outcomes derived from project support by the New Energy and Industrial Technology Development Organization (NEDO) and the Ministry of Health, Labour and Welfare’s Project to Promote the Development of Assistive Devices for Persons with Disabilities.

Note: Bio Leg® is a registered trademark of BionicM Inc.

Media & Investor Contacts of BionicM Inc.

Address: 203 The University of Tokyo Entrepreneur Plaza, 7-3-1 Hongo, Bunkyo-ku,

Tokyo 113-0033, Japan

SOURCE BionicM USA

• Index Industries is co-founded by Josh Rosenthal, formerly the President of Polychain Capital, joining as CEO, and Brian Hardecker, CEO of Longmark and formerly of Blackstone, joining as Chairman.
• The round is backed by Lightspeed Venture Partners, Galaxy Ventures, Polychain Capital, Wintermute Ventures and more.
• Index Industries will launch the USHP Index, a proprietary benchmark for U.S. home prices, made investable through USHP, a liquid index product, issued by USHP Limited.

NEW YORK, Nov. 10, 2026 — Index Industries emerges from stealth with a $50 million seed round led by Lightspeed Venture Partners, with participation from Polychain Capital, Galaxy Ventures, Wintermute Ventures, and other institutional investors. The company is building the technology and infrastructure to transform U.S. housing into a broadly investable asset class. Its platform combines a daily-reporting index with tokenization technology and real estate and capital markets services to power third-party housing-linked investment products. USHP, based on Index Industries’ U.S. Home Price Index and issued by USHP Limited (BVI), will be the first investment product built on the platform.

U.S. housing is a $55 trillion market, making it one of the largest asset classes in the U.S. Yet despite its scale, broad-based investment exposure to U.S. home prices has remained difficult to access through traditional financial products. Index Industries was founded to close that gap.

Index Industries’ first offering will be the U.S. Home Price Index (USHP Index), a proprietary benchmark for U.S. home prices. Calculated daily, it integrates data from the major housing indices into a single national measure, providing a continuous and comprehensive read on home prices. The index is intended to support housing-market research, reporting, and portfolio monitoring and housing-related financial products.

Index Industries is co-founded by Josh Rosenthal, who joins as CEO following his role as President and General Partner of Polychain Capital, and Brian Hardecker, a former Principal at Blackstone and the Founder and CEO of Longmark, a leading residential real estate platform formed in 2021 that has $2 billion in assets under management. Index Industries combines two worlds of expertise to bring breakthrough tokenization technology to new real estate assets.

“Indexing is one of the most important and least celebrated innovations in modern finance. It reduces the expertise and cost barriers to investing in an entire market, which is what U.S. housing needs,” said Josh Rosenthal, co-founder & CEO of Index Industries. “I’ve spent my career looking for industry-shaping financial technology, and Index Industries is exactly that. It has the potential to change how the world sees housing: not just as a roof over your head or something that is out of reach, but as an investable asset class.”

“U.S. housing is a massive market. It accounts for roughly a quarter of the aggregate value of the U.S. economy, yet it draws far less attention because there haven’t been accessible ways to take a position in it,” said Brian Hardecker, co-founder and chairman of Index Industries and CEO of Longmark Group. “Housing is uniquely inflation-protected, uncorrelated to other asset classes, and has arguably been one of the most stable paths to wealth accumulation. It hasn’t seen the benefits of financial innovation that other sectors have. That’s beginning to change with USHP, and we’re proud to play a role.”

“Real estate is one of tokenization‘s biggest opportunities, but bringing a $55 trillion asset class onchain requires traditional institutional infrastructure no crypto-native team has ever had. That’s the gap Index Industries closes. It’s rare to see two worlds of expertise converge at this caliber: traditional institutional rigor paired with scalable, secure, compliant technology that will unlock access and liquidity for the world’s largest asset class. Index Industries’ partnership with Longmark made leading this investment an easy decision for Lightspeed,” said Justin Overdorff, Partner at Lightspeed Venture Partners.

Tokenization is a defining innovation in financial markets today, and the world’s largest institutions are racing to adopt it. Index Industries applies tokenization to one of the most sought-after asset classes and is designed to create entirely new financial products that unlock access, income, and liquidity at institutional scale.

The USHP Index is expected to launch imminently. USHP Limited plans to release USHP in 2026 on Ethereum and expand to Solana in 2027. For more information, visit indexindustries.com.

About Index Industries

Index Industries is building the technology and infrastructure to transform U.S. housing into a broadly investable asset class. Founded in 2026 by Josh Rosenthal, CEO of Index Industries and former President of Polychain, and Brian Hardecker, Chairman of Index Industries and CEO of Longmark Group, formerly of Blackstone Real Estate, Index Industries manages the U.S. Home Price Index and provides technology for USHP. To learn more, visit indexindustries.com and follow us on X at @index_inds.

Media Contact: [email protected]

Important Notice

This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities or other financial instrument in any jurisdiction, including the United States, or to or for the account or benefit of any U.S. person. No securities described or referenced herein have been or will be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States, and no such securities may be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration. Index Industries is not the issuer of USHP and will not offer, sell, distribute, market, redeem, or accept subscriptions for USHP. USHP is expected to be issued by USHP Limited, a British Virgin Islands company and a subsidiary of the USHP Foundation, a Cayman Islands foundation company. Any offering of USHP, if made, will be made solely by the issuer pursuant to separate offering materials and only to eligible non-U.S. persons outside the United States in accordance with applicable law.

SOURCE Index Industries

Wipro Ventures participated in Labelbox’s recent Series E funding round

SAN FRANCISCO, Nov. 10, 2026 — Labelbox, the leading data factory trusted by top AI labs and enterprises, has announced its strategic partnership with Wipro Limited, a global AI-powered technology services and consulting company, to accelerate the deployment of AI agents across complex enterprise operations. The partnership brings together Labelbox’s AI capabilities with Wipro’s global expertise and delivery scale to enhance adoption of production-ready AI systems that learn from enterprise experience. Wipro Ventures, the corporate investment arm of Wipro, also announced its participation in Labelbox’s recent funding round.

“Building frontier AI requires bringing exceptional domain expertise closer to the teams developing and deploying AI systems,” said Manu Sharma, CEO of Labelbox. “Through our partnership with Wipro, we look forward to helping enterprises turn their knowledge, workflows, and standards into AI systems that can be rigorously evaluated, continuously improved, and deployed responsibly at scale. Together, we aim to accelerate the adoption of AI agents that learn from experience and deliver meaningful, measurable outcomes across complex enterprise operations.”

The collaboration will integrate Labelbox’s reinforcement learning capabilities with Wipro Intelligence™, the unified suite of AI-powered platforms, solutions, and transformative offerings. Wipro’s forward-deployed engineers (FDEs) will support workflow selection, systems integration, domain-expertise capture, and performance measurement, while customers retain control over permissions, standards, and sensitive actions. Initial use cases include identifying data-quality issues, rerunning evaluations when models change, and comparing experiments to recommend the next step.

“As enterprises move towards more advanced AI systems, reinforcement learning will play an increasingly important role in developing models capable of addressing complex, real-world challenges,” said Malay Joshi, CEO of Americas 1, Wipro Limited. “By bringing Labelbox’s reinforcement learning capabilities with Wipro Intelligence™, and pairing them with our FDEs, we are giving clients a faster, governed path from promising pilots to production results they can measure.”

Labelbox combines managed enterprise agents with reinforcement learning environments and evaluations in a single platform. Unlike a standalone model, its technology is designed around an organization’s own workflows, systems, knowledge, and standards. Labelbox’s Recursion enables agents to coordinate work across business applications, show the evidence behind each result, and retain lessons from reviewed work. Its Horizon product provides reinforcement learning environments and evaluations for reasoning, coding, tool use, and computer use. Together, these capabilities create a feedback loop in which AI systems can be tested, governed, and improved through experience.

About Labelbox
Labelbox is the leading data factory for frontier model development. Trusted by over 80% of leading AI labs in the US and hundreds of enterprises worldwide, Labelbox provides integrated software, managed services, and an expert network that enable organizations to create the high-quality training data required for breakthrough AI systems. Headquartered in San Francisco, the company is backed by leading investors including SoftBank, Andreessen Horowitz, B Capital, Gradient Ventures, Databricks Ventures, and Kleiner Perkins.

SOURCE Labelbox

Backed by Kleiner Perkins and Costanoa, Nidus brings intelligent, autonomous systems that dramatically increase factory output, beginning with the wire harnesses inside every aircraft, missile, and vehicle

NEW YORK, Nov. 10, 2026 — Nidus, the robotics company deploying embodied intelligence inside America’s defense factories, announced $30 million in funding today, backed by Kleiner Perkins and Costanoa, with participation from Ludlow Ventures, SF1, Absolute Partners, Tau, and angel investors, including Chris Power, founder of Hadrian; Adrian Aoun, co-founder of Dulo, Foundational Industries and Seneca; and Nikhil Goel, Chief Commercial Officer at Archer.

America’s defense industrial base has a capacity crisis. The country that once produced more than half the world’s goods now relies heavily on overseas supply chains to manufacture parts for its own weapons systems. This constitutes a national security risk, and factories urgently need to increase output to meet demand.

Nidus builds embodied intelligence that lets traditional industrial robots perform precision assembly tasks. The company develops and deploys foundation robotics models across America’s critical defense factories, using sovereign AI training practices. This lets each customer retain its collective knowledge, which is crucial in secure environments.

“I grew up in rural South Carolina and watched offshoring create the current industrial base crisis,” said Justin Sealy, co-founder and CEO of Nidus. “At this point, we can’t out-labor or out-scale our competition. We need to leapfrog the rest of the world by deploying physical AI that scales America’s existing industrial capacity. This is why we started Nidus.”

Nidus is deploying across the defense industrial base and quickly eclipsed seven figures in revenue in its first four months. The company is currently delivering customized models to automate wire processing on its proprietary platform, which was built from the ground up to meet Department of War security requirements.

“In physical AI, the value will accrue to players that prioritize deployment and customer value. And Nidus is the rare team that has actually deployed AI into the most locked-down environments in the country” said Aatish Nayak, partner at Kleiner Perkins. “The demand they’re seeing is a testament to the value of their mission and product. We’re thrilled to back Justin, Charu, Harrison, and Cane as they bring AI to the factories America’s security depends on.”

“The U.S. cannot rebuild industrial capacity through new construction alone. Nidus is taking a different approach, using AI and robotics to increase production inside existing factories,” said Greg Sands, Founder and Managing Partner at Costanoa. “We backed Justin and the team at pre-seed because of their firsthand experience with the challenges of American manufacturing and their technical ability to address them. We believe Nidus has the potential to make a meaningful difference in how critical products are manufactured in the U.S.”

Nidus will use this funding to grow its engineering team, expand from wire-harness automation into additional factory workflows, and scale production deployments with U.S. defense manufacturers.

“We only build for American institutions that are vital for securing democracy,” added Sealy. “We believe in a future where American industry is self-sustaining and no longer dependent on foreign production. We’re building the infrastructure to make that future a reality.”

About Nidus

Nidus is the leading developer of industrial AI, purpose-built to augment America’s manufacturing base. We are on a mission to equip the factories that enable American industry with embodied intelligence that radically scales operations. Founded by a team with decades of experience across machine learning, robotics, hardware, and defense tech, Nidus brings foundation models out of the lab and onto the factory floor. Learn more at nidus.tech.

Media contact: [email protected]

SOURCE Nidus Technologies

SPARETECH aims to cut manufacturers’ spare parts inventory by 60% within three years with AI that ensures parts are available when they are needed

MUNICH, Nov. 10, 2026 — SPARETECH, a provider of enterprise AI for spare parts management, today announced it has raised $20 million in Series B funding to help manufacturers cut their spare parts inventory without risking downtime. Blume Equity and Insight Partners co-led the round, with participation from Headline.

Geographic expansion and growth trajectory

SPARETECH has established itself in the United States and grown its revenue fivefold since the start of 2024. Over the same period, the company grew its spare parts catalog to more than 40 million verified parts and expanded its network to 15,000 manufacturer and supplier partners. The global rollout of Nestlé, a SPARETECH customer, put 320 plants across 70 countries live in less than a year, further affirming SPARETECH’s global enterprise capabilities and speed.

“Every customer we work with wants the same thing: the production line running with less inventory on the shelf. That is the problem we are going to solve with Maintenance teams, and our goal is to cut spare parts inventory by 60% in the next three years, while securing the same uptime.”
Martin Weber, CEO and Co-Founder, SPARETECH

Why spare parts stay on the shelf

Spare parts management has long been one of manufacturing’s most persistent inefficiencies. A single stockout can halt production and idle an entire line, making plants default to holding extensive spare parts inventories as a safeguard. The result is a substantial amount of capital sitting on the shelf. SPARETECH’s 2026 benchmark report puts the average value of spare parts inventory at $169 million per company.

Source: Unlocking cost savings in spare parts management: The 2026 benchmark report on MRO spend, productivity, and working capital, SPARETECH, 2026.

From visibility to availability

Since its founding, SPARETECH has helped customers gain visibility into the parts they hold and standardize their spare parts data, which is the foundation of effective spare parts management. Meaningfully reducing inventory levels, however, requires more than good data. It requires physical action.

SPARETECH is moving the market beyond insights and recommendations toward measurable outcomes: lower inventory with the same uptime. To reach the 60% goal, every maintenance professional needs confidence that the right part will be available when needed, even if it sits on another company’s shelf. SPARETECH’s AI will secure that availability.

“Every part sitting idle is cash that could be working somewhere else. We are building AI that makes sure the right part is available when a plant needs it and put those idle parts back into circulation, so the money tied up on the shelf can go back to growing the business.”
Dr. Lukas Biedermann, COO and Co-Founder, SPARETECH

Why now

Industrial automation keeps expanding, and a single new production line can add thousands of spare parts that someone has to stock. The problem grows with every machine that is installed. With the cost of capital rising, manufacturers can no longer afford to keep that much money sitting on the shelf. At the same time, AI can now secure availability at a scale no team could manage by hand.

“Often building resilience in supply chain ends up in building more inventories for spare parts. A much more suitable way would be a system, which secures better resilience with up to 60% less inventories sitting on the shelves. SPARETECH is exactly doing this. A fascinating opportunity especially for the manufacturing industry.”
Joe Kaeser, Chairman of the Supervisory Board of Siemens Energy and Daimler Truck 

“SPARETECH is exactly the kind of business we back. Idle spare parts are a large, overlooked pool of wasted resources, and putting them back to work gives manufacturers a measurable return and the planet less waste. We are delighted to partner with Martin, Lukas, and the team as they scale.”
Michelle Capiod, Co-Founding Partner, Blume Equity

Investing in innovation and expansion

SPARETECH will use the funding to continue building the AI that secures spare part availability for industrial companies and put their surplus parts back into circulation, expand its presence in North America and new regions, and deepen its work with existing customers.

“The next stage of SPARETECH’s growth runs through North America. American manufacturers operate large plant networks with a lot of capital tied up in spare parts, and they need a partner built for that scale. Insight has spent decades helping software companies grow in the United States, and we are excited to support Martin, Lukas, and the team as they scale.”
Brad Fiedler, Managing Director, Insight Partners

“The digital world is moving into the physical one, and Germany has the industrial substance to lead that shift. SPARETECH is building industrial AI for spare parts management, and it already gives maintenance and procurement teams confidence in uncertain times. This is where industrial AI starts to pay off for global manufacturers.”
Christian Miele, General Partner, Headline

Learn more at sparetech.io.

About SPARETECH

SPARETECH’s enterprise AI software empowers global manufacturers to reduce their spare parts spend and inventory. Built on verified original manufacturer data, the platform standardizes material master data, right-sizes inventory across plants, and enables sourcing and surplus resale across the network. Maintenance and procurement teams know what they have, get what they need, and sell what they don’t.

Trusted by manufacturers like Nestlé, Porsche, VW, Bosch, and Sanofi, the company is moving toward its vision of a zero-waste industrial sharing economy.

About Blume Equity

Blume Equity is a European growth equity firm based in London and Amsterdam, backing technology companies that build cleaner energy systems, smarter industry and more climate-resilient economies. Its team works closely with founders to help businesses scale and create long-term value.

For more information, visit blumeequity.com.

About Insight Partners

Insight Partners is a global AI and software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2026, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 900 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has a global presence with leadership in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow on X @insightpartners.

About Headline

Headline is a venture capital firm that partners with exceptional technology teams with global ambitions. The firm manages more than $5 billion in assets and invests through regionally focused early-stage funds across the US, Europe, Asia, and Latin America, as well as Headline Growth, which invests worldwide from Series B to the public market. Headline is headquartered in San Francisco and has eight global offices. Learn more at headline.com.

Media contact:
Charles Mackenzie
VP Marketing, SPARETECH
[email protected] 

WALTHAM, Mass., Nov. 10, 2026 — EnVision Endoscopy, Inc., a medical technology company developing innovative solutions for gastrointestinal (GI) endoscopic surgery, today announced the successful closing of an oversubscribed $11.5 million Series A financing and the completion of its first 50 patient procedures using the SimpleStitch™ Suturing System.

Together, these milestones mark a significant step in the company’s transition from technology development to clinical adoption and commercial expansion, supporting its mission to make endoscopic suturing more accessible to physicians performing minimally invasive gastrointestinal procedures.

Designed for use with standard flexible endoscopes, the SimpleStitch™ Suturing System is intended to help physicians with an intuitive approach and easy-to-use technology to perform endoscopic suturing. The technology is designed to address longstanding challenges associated with tissue closure following advanced gastrointestinal endoscopic procedures, potentially expanding access to suturing beyond specialized expert centers.

EnVision received FDA clearance for the SimpleStitch™ Suturing System in 2025 and initiated a limited U.S. market release in 2026. The completion of the first 50 patient procedures represents an important milestone in building clinical experience, strengthening physician partnerships, and advancing the company’s commercial strategy.

“Technologies to simplify endoscopic resection are coming, and closure should be even simpler. SimpleStitch™ bridges the gap between conventional clips and advanced endoscopic suturing, making strong, confident tissue closure more accessible. I’m excited that 50 procedures have now been safely completed at pilot sites in 2026. This is an important step toward bringing better closure options to physicians and their patients,” said Dr. Andrew Storm of Atrium Health Wake Forest Baptist, who performed the first-in-human procedure with SimpleStitch™.

“We founded EnVision to address persistent challenges in endoscopic surgery. Reaching our first 50 patient procedures validates the work of our team and physician collaborators in bringing SimpleStitch™ into clinical practice. Combined with our Series A financing, this milestone positions us to build on that momentum and bring our technology to more physicians and patients,” said Azadeh Khanicheh, Ph.D., Co-Founder and Chief Executive Officer of EnVision Endoscopy.

Series A Financing to Support Commercial Expansion
The oversubscribed $11.5 million Series A financing was led by Puma Venture Capital, with participation from UTEC – University of Tokyo Edge Capital, existing investor Olympus Corporation of the Americas, and MassVentures.

“Puma backs minimally invasive technologies that can improve both labor productivity and how well patients do. SimpleStitch™ takes endoscopic suturing out of a handful of expert centers and puts it on the scope a physician already owns. More endoscopists can close with confidence, more patients get a less invasive option, and that’s why we led this round,” said Amit Hazan, Co-Founder and Managing Partner of Puma Venture Capital.

The financing will support EnVision Endoscopy’s next phase of growth, including expanded commercial availability, physician training, clinical evidence generation, manufacturing scale-up, and further product development.

The strong investor participation reflects confidence in EnVision Endoscopy’s technology, its approach to addressing unmet needs in gastrointestinal endoscopic surgery, and the growing opportunity to advance minimally invasive endoscopic interventions.

Addressing a Growing Need for Endoscopic Closure
Endoscopy is steadily replacing surgery for a growing range of gastrointestinal conditions. More than 20 million gastrointestinal endoscopic procedures are performed in the U.S. each year, and advanced resection techniques such as endoscopic mucosal resection (EMR), endoscopic submucosal dissection (ESD), and peroral endoscopic myotomy (POEM) are being adopted rapidly in the U.S. and Europe. Each of these procedures can leave defects that need secure closure.

The endoscopic closure device market is projected to grow 7–8% annually through the end of the decade. Yet endoscopic suturing remains concentrated in a small number of expert centers, because existing systems require extensive training and dedicated equipment. SimpleStitch™ is designed to close this gap by bringing suturing to the broader community of endoscopists using the endoscopes they already have.

About EnVision Endoscopy, Inc.
EnVision Endoscopy, Inc. is a Waltham, Massachusetts-based medical technology company developing innovative devices for gastrointestinal endoscopic surgery. Co-founded by Azadeh Khanicheh, Ph.D., and Christopher C. Thompson, MD, MSc, the company is focused on addressing unmet clinical needs through technologies that support less invasive endoscopic procedures.

Its SimpleStitch™ Suturing System is designed to facilitate endoscopic suturing and tissue approximation using standard flexible endoscopes. EnVision’s mission is to advance endoscopic surgery through practical, innovative technologies that serve physicians and patients.

For more information, visit: www.envisionendoscopy.com

SOURCE ENVISION ENDOSCOPY INC.