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The National
7 days ago
- Business
- The National
Abu Dhabi company secures Dh2.55bn to build new satellites
Space42, the Abu Dhabi-based artificial intelligence-powered SpaceTech company, has secured Dh2.55 billion ($695.5 million) in funding to develop two next-generation communication satellites. The satellites Al Yah 4 and Al Yah 5 will help provide faster and more secure communications across the Middle East, Africa, Europe and Asia. Expected to launch in 2027 and 2028, they will eventually take over from the UAE's Al Yah 1 and 2 satellites, launched more than a decade ago. Announced on Tuesday, the funding was secured by leading international banks and supported by the Bpifrance Assurance Export, a financing agency. 'These new satellites are part of a long-term programme that will support vital communication needs in both the defence and civil sectors,' said Andrew Cole, chief financial officer at Space42. 'This funding gives us the flexibility we need to keep growing and meeting the needs of our customers.' Space42, which trades on the Abu Dhabi Securities Exchange (ADX), was awarded a 17-year Dh18.7 billion contract by the UAE government last year to help speed up the construction of its new satellites. Included was the Dh3.7 billion in advanced payments for the development of the Al Yah 4 and Al Yah 5 satellites. Space42 was formed last year when UAE satellite company Yahsat merged with AI and mapping firm Bayanat. MORE FROM ED HUSAIN: The UAE-Israel accord is a win for every Muslim ARSENAL IN 1977 Feb 05 Arsenal 0-0 Sunderland Feb 12 Manchester City 1-0 Arsenal Feb 15 Middlesbrough 3-0 Arsenal Feb 19 Arsenal 2-3 West Ham Feb 26 Middlesbrough 4-1 Arsenal (FA Cup) Mar 01 Everton 2-1 Arsenal Mar 05 Arsenal 1-4 ipswich March 08 Arsenal 1-2 West Brom Mar 12 QPR 2-1 Arsenal Mar 23 Stoke 1-1 Arsenal Apr 02 Arsenal 3-0 Leicester LAST 16 DRAW Borussia Dortmund v PSG Real Madrid v Manchester City Atalanta v Valencia Atletico Madrid v Liverpool Chelsea v Bayern Munich Lyon v Juventus Tottenham v Leipzig Napoli v Barcelona Conflict, drought, famine Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024. It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine. Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, 'several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu's government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages]. The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a 'biblical famine' and containing graphic images of thousands of people, including children, facing starvation. Band Aid Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts. With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it's Christmas in December 1984, featuring a string of high-profile musicians. Following the single's success, the idea to stage a rock concert evolved. Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world. The combined event was broadcast to an estimated worldwide audience of 1.5 billion. COMPANY%20PROFILE%20 %3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A Bib%20Gourmand%20restaurants %3Cp%3EAl%20Khayma%0D%3Cbr%3EBait%20Maryam%0D%3Cbr%3EBrasserie%20Boulud%0D%3Cbr%3EFi'lia%0D%3Cbr%3Efolly%0D%3Cbr%3EGoldfish%0D%3Cbr%3EIbn%20AlBahr%0D%3Cbr%3EIndya%20by%20Vineet%0D%3Cbr%3EKinoya%0D%3Cbr%3ENinive%0D%3Cbr%3EOrfali%20Bros%0D%3Cbr%3EReif%20Japanese%20Kushiyaki%0D%3Cbr%3EShabestan%0D%3Cbr%3ETeible%3C%2Fp%3E%0A COMPANY%20PROFILE%20 %3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Dooda%20Solutions%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Lebanon%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENada%20Ghanem%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20AgriTech%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%24300%2C000%20in%20equity-free%20funding%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2011%3C%2Fp%3E%0A The specs Engine: 3.0-litre six-cylinder turbo Power: 398hp from 5,250rpm Torque: 580Nm at 1,900-4,800rpm Transmission: Eight-speed auto Fuel economy, combined: 6.5L/100km On sale: December Price: From Dh330,000 (estimate) What can victims do? Always use only regulated platforms Stop all transactions and communication on suspicion Save all evidence (screenshots, chat logs, transaction IDs) Report to local authorities Warn others to prevent further harm Courtesy: Crystal Intelligence Saudi National Day Why the UAE has many reasons to celebrate its closest friend and ally Specs Engine: Duel electric motors Power: 659hp Torque: 1075Nm On sale: Available for pre-order now Price: On request Jetour T1 specs Engine: 2-litre turbocharged Power: 254hp Torque: 390Nm Price: From Dh126,000 Available: Now
Business Wire
22-07-2025
- Business
- Business Wire
NFL Biosciences Secures Initial Non-Dilutive Funding of €1.2 Million, Adding to Its Recent Capital Increase, to Advance the Development of NFL-101, Its First-in-Class Treatment for Tobacco Addiction
MONTPELLIER, France--(BUSINESS WIRE)--Regulatory News: NFL BIOSCIENCES (Euronext Growth Paris - FR0014003XT0 - ALNFL), a biopharmaceutical company developing innovative botanical medicines for the treatment of addiction, today announced that it has secured €1.2 million in medium-term non-dilutive financing from three partners. NFL Biosciences obtained a €600,000 'Innovation Advance' repayable advance from Bpifrance. This advance will be repaid interest-free over 5 years starting in the second quarter of 2029, in quarterly instalments of €30,000. The company has also secured two medium-term loans totalling €600,000 from its banking partners, repayable over 4 and 5 years at a fixed rate. This €1.2 million adds to the €3.0 million raised in the oversubscribed capital increase at the end of May 2025. The company also expects to secure additional non-dilutive funding and plans to benefit each year from the reimbursement of a portion of its R&D expenses through the Research Tax Credit. These funds are allocated to the continued development of NFL-101, its proprietary drug indicated for smoking cessation. The company is currently engaged in scientific advice procedures with European regulatory authorities and the FDA. The feedback expected at the end of the summer will enable the company to confirm its development strategy, notably in relation to manufacturing, preclinical and clinical aspects. 'We would like to sincerely thank Bpifrance for its support, as well as our banking partners Société Générale and Banque Populaire du Sud. We have recently secured €4.2 million to support our development, and we are confidently approaching the launch of Phase 3. We are also continuing to seek additional non-dilutive funding and remain focused on rigorously managing our structural costs,' commented Bruno Lafont, Chief Executive Officer of NFL Biosciences. About NFL Biosciences: NFL Biosciences is a biopharmaceutical company based in the Montpellier region of France, developing plant-based drug candidates for the treatment of addictions. NFL Biosciences' ambition is to bring new, safer and more effective natural therapeutic solutions to the entire world population, including low- and middle-income countries. Its most advanced product, NFL-101, is a standardized tobacco leaf extract protected by three patent families. NFL Biosciences intends to offer smokers wishing to quit a natural, safe, easy-to-administer and personalized alternative. NFL Biosciences is also developing NFL-301, a natural drug candidate for the reduction of alcohol consumption and has a drug development project for the treatment of cannabis use disorders. NFL Biosciences shares are listed on Euronext Growth Paris (FR0014003XT0 - ALNFL). The company is qualified as an 'Innovative Company' eligible for FCPI investment. More information on
Business Wire
21-07-2025
- Business
- Business Wire
Advicenne Raises 2.6 Million Euros in Its Capital Increase and Extends Its Financial Visibility
PARIS--(BUSINESS WIRE)--Regulatory News: Advicenne (Euronext Growth® - FR0013296746 - ALDVI), a pharmaceutical company specializing in the development and marketing of innovative treatments for people suffering from rare kidney diseases (the "Company"), raised a total of nearly €2.6 million through the issue of 1,895,948 New Shares at a unit price of €1.35 as part of the capital increase through the issue of new ordinary shares (the 'New Shares') with shareholders' pre-emptive subscription rights (the 'DPS') announced on June 30, 2025. This transaction will extend financial visibility until the end of the third quarter of 2026. Didier Laurens, Chief Executive Officer of Advicenne, comments: "I would like to extend my warmest thanks to the shareholders who, through this operation, are supporting Advicenne's continued development, first and foremost Bpifrance. We can be proud of their confidence in the project supported by all Advicenne employees. This transaction puts the finishing touches to the optimization of our financing. Now, more than ever, we are focusing on the upcoming filing of ADV7103 for registration in the dRTA in the United States, and the extension of our financial visibility enables us to project ourselves calmly towards this objective.' Philippe Boucheron, Deputy Director, Biotech and Medtech Investment Division of Bpifrance and Chairman of Advicenne, highlights: 'We were keen to support Advicenne and its team. Opportunities to invest in a commercial company in our sector which has developed its own drug from lab to market are rare, particularly in France. Following the launch of Sibnayal® in Europe, Advicenne's team has continued to work hard on the US marketing authorization application in dRTA, which will be a powerful driver of value creation.' A Capital Increase to secure the US ambitions This Capital Increase is part of the financing of Advicenne's growth, particularly in the U.S. The funds will be allocated as follows: around 70% for the completion of ADV7103's regulatory activities in dRTA in the U.S and its clinical development plan in cystinuria, and the conclusion of an industrial and commercial partnership; around 30% for the continued marketing activities of Sibnayal® in Europe and the financing requirements of the Company's ongoing operations. This Capital Increase ensures the financing of Advicenne's anticipated cash requirements at least until the end of the 3rd quarter of 2026. This extended financial visibility considers the restructuring agreement for the loan granted by the European Investment Bank, announced on June 30, 2025. It also ensures the finalization of the registration dossier for ADV7103 in dRTA in the U.S and its filing during Q4 2025, with a view to obtaining approval by the end of Q3 2026. During this period, Advicenne will also complete the development plan for ADV7103 in cystinuria. In Europe, the objective is to accelerate the adoption and sales growth of Sibnayal®, working in parallel for the enhancement of its reimbursement, especially in France. Results of the capital increase with pre-emptive subscription rights The capital increase with pre-emptive subscription rights received a total demand for 1,257,403 new shares at a unit price of €1.35, on the basis of 2 new shares for every 13 existing shares held, i.e. a total amount of €1,697,494.05, representing around 66% of the initial offering (€2,559,529.80). Subscriptions were distributed as follows: - 283,430 New Shares by irrevocable entitlement, representing 14.9% of the New Shares to be issued; - 774,150 New Shares subject to reduction, representing 40.8% of the New Shares to be issued. The take-up rate for reducible applications was therefore 100%. to which were added : - 199,823 New Shares on an unrestricted basis, representing 10.5% of the New Shares to be issued, allocated by the Board of Directors under its right to freely allocate unsubscribed shares on an irreducible and reducible basis, as provided for in Article L.225-134 I. 2° of the French Commercial Code. In accordance with their subscription commitments: - the FPS Innovation 1 fund, managed by Bpifrance Investissement, which also manages the Innobio fund, the Company's reference shareholder, subscribed to 740,740 New Shares for a total amount of €999,999; and - Didier Laurens, Managing Director of the Company, subscribed to 37,037 New Shares for a total amount of €49,999.95. It should be noted that the guaranteed commitments for a total of €1,500,000 signed by 6 investors (the 'Guarantors') have been partially exercised up to 57% of their commitment, i.e. 638,545 New Shares. In return for their guaranteed commitments, the Guarantors received a remuneration corresponding to 10% of the amount of their subscription commitment by way of guarantee. Guarantorss Allocation shares Allocation EUR Friedland Gestion 85,139 114,937.65 € Gestys 85,139 114,937.65 € Hamilton Stuart Capital 63,854 86,202.90 € Market Wizards 212,848 287,344.80 € Maitice 42,569 57,468.15 € Treecap BV 148,996 201,144.60 € TOTAL 638,545 862,035.75 € Expand Settlement and delivery of the New Shares Following settlement and delivery, which will take place on July 24, 2025, Advicenne's share capital will amount to €2,843,923.80, comprising 14,219,619 shares with a par value of €0.20 each. Application will be made for the New Shares to be admitted to trading on Euronext Growth in Paris on the same day, on the same quotation line as the existing shares (ISIN code FR0013296746 - mnemonic code ALDVI). Impact of the Capital Increase on the shareholder structure To the best of the Company's knowledge, the breakdown of share capital and voting rights post-Capital Increase is as follows: Capital breakdown (post-capital increase) on a non-diluted basis Shares % Voting rights % Didier Laurens, CEO 37,037.0 0.26% 37,037.0 0.22% Employees, Consultants and committee members 108,778.0 0.76% 217,556.0 1.29% Sub Total Management & Employees 145,815.0 1.03% 254,593.0 1.51% Bpifrance Investissement1 3,405,245.0 23.95% 4,730,813.0 28.05% Cemag Invest 2,217,928.0 15.60% 2,983,574.0 17.69% Irdi Soridec Gestion 435,511.0 3.06% 435,511.0 2.58% Sub Total Board 6,058,684.0 42.61% 8,149,898.0 48.32% Free float 7,957,041 55.95% 8,461,486 50.17% Treasury shares2 58,079 0.41% 0.0 0.00% Total 14,219,619 100,00% 16,865,977 100,00% Expand 1 All funds managed by Bpifrance (including FPS Innovation 1). 2 as of 30/06/2025. Capital breakdown (post-capital increase) on a diluted basis Shares % Voting rights % Didier Laurens 337,037 2.23% 337,037 1.89% Employees, consultants and committee members 553,778 3.66% 662,556 3.72% Sub Total Management & Employees 960,815 6.35% 1,069,593 6.01% Bpifrance Investissement1 3,405,245 22.49% 4,730,813 26.60% Cemag Invest 2,217,928 14.65% 2,983,574 16.77% Irdi Soridec Gestion 435,511 2.88% 435,511 2.45% Charlotte Sibley 25,000 0.17% 25,000 0.14% Sub Total Board of Directors 6,083,684 40.18% 8,174,898 45.96% Free float 8,039,166 53.10% 8,543,611 48.03% Treasury shares2 58,079 0.38% 0 0.00% Total 15,141,744 100,00% 17,788,102 100,00% Expand 1 All funds managed by Bpifrance (including FPS Innovation 1). 2 as of 30/06/2025. Impact of the Capital Increase on the situation of the shareholder The impact of the issue of New Shares on the shareholding of a shareholder who held 1% of the Company's capital prior to the Capital Increase and who did not subscribe to it is as follows: Shareholder interest (%) Non diluted basis* Diluted basis** Before issuance of the New Shares via the Offering 1,00% 0,93% After issuance of 1,895,948 New Shares via the Offering (completion of the capital increase to 100%) 0,87% 0,81% Expand * on the basis of 12,323,671 existing shares at the date of this press release ** if all BSPCEs are exercised, representing a total of 922,125 shares. The impact of the Capital Increase on consolidated shareholders' equity per share (calculated on the basis of consolidated shareholders' equity at December 31, 2025) is as follows: Equity per share (in €) Non diluted basis* Diluted basis** Before issuance of the New Shares via the Offering -€1.55 -€1.44 After issuance of 1,895,948 New Shares via the Offering (completion of the capital increase to 100%) -€1.16 -€1.09 Expand * on the basis of 12,323,671 existing shares at the date of this press release ** if all BSPCEs are exercised, representing a total of 922,125 shares. Reminder of the other terms of the Capital Increase Legal framework of the offer The offer was carried out on the basis of the 11th and 17th resolutions adopted by the Combined General Meeting of shareholders on May 15, 2025, and by the Board of Directors of Advicenne on June 27, 2025, which decided to implement the delegation of powers granted to it, and launched the capital increase with preferential subscription rights. A notice to shareholders concerning the transaction was published on July 2, 2025 in the Bulletin des Annonces Légales et Obligatoires (BALO). Prospectus In accordance with the provisions of Article L.411-2-1 1° of the French Monetary and Financial Code and Article 211-2 of the General Regulations of the Autorité des Marchés Financiers (the 'AMF'), the Capital Increase did not give rise to a prospectus submitted for AMF approval, as the total amount of the offering calculated over a twelve-month period does not exceed €8,000,000. Undertaking to abstain from trading and to retain shares The Company has undertaken to abstain from trading for a period of 6 months in connection with the Capital Increase. Resumption of exercise rights for holders of BSPCEs issued by the Company Holders of BSPCEs issued by the Company are hereby informed of the resumption of their rights to the allocation of new shares in the Company as from the settlement-delivery of the New Shares, i.e. July 24, 2025. The rights of holders of warrants issued by the Company who have not exercised their right to receive shares in the Company by July 4, 2025 (00:00 Paris time) will be preserved in accordance with legal and regulatory provisions. Risk factors Risk factors relating to the Company and its 2024 universal registration document, available in the Investor Relations section of its website ( The occurrence of any or all these risks could have an adverse effect on the Company's business, financial situation, results, development or prospects. Capital Increase Partners TP ICAP Global Coordinator, Lead Manager and Bookrunner Bird & Bird Legal advice Expand About Advicenne Advicenne (Euronext: ALDVI) is a specialty pharmaceutical company founded in 2007, specializing in the development of innovative treatments in Nephrology. Its lead product Sibnayal® (ADV7103) has received its Marketing Approval for distal renal tubular acidosis in EU and GB. ADV7103 is currently in late-stage development in cystinuria in Europe and in dRTA and cystinuria in the US and in Canada. Headquartered in Paris, Advicenne, listed on the Euronext Paris stock exchange since 2017, has now been listed on Euronext Growth Paris since its transfer on March 30, 2022. For additional information, see: Forward-looking statements This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, product development and potential, and statements regarding future performance. Forward-looking statements are often identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Advicenne's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond Advicenne's control, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include in particular those inherent in the marketing and commercialization of drugs developed by Advicenne as well as those developed or identified in the public documents filed by Advicenne with the Autorité des marchés financiers, including those listed in chapter 3 "Risk Factors" of Advicenne's universal registration document filed with the Autorité des marchés financiers on April 28, 2023 and in the 2023 half-year report, available free of charge on the website of the Company (( Subject to applicable regulations, in particular articles 223-1 et seq. of the general regulations of the Autorité des marchés financiers, Advicenne does not undertake to update any forward-looking information or statements. Disclaimer This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful in the absence of registration or approval under the securities laws of such state or jurisdiction. The distribution of this press release may be subject to specific regulations in certain countries. Persons in possession of this document are required to inform themselves about and to observe any such local restrictions. This press release constitutes a promotional communication and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (as amended the "Prospectus Regulation"). With respect to member states of the European Economic Area other than France (the "Member States"), no action has been or will be taken to permit a public offering of the securities that would require the publication of a prospectus in any of these Member States. Consequently, the securities cannot and will not be offered in any Member State (other than France), except in accordance with the exemptions provided for in Article 1(4) of the Prospectus Regulation, or in other cases not requiring the publication by Advicenne of a prospectus under the Prospectus Regulation and/or the regulations applicable in those Member States. This press release does not constitute an offer of securities to the public in the United Kingdom. This press release may not be published, distributed or disseminated in the United States (including its territories and possessions). This press release does not constitute an offer or solicitation to buy, sell or subscribe for any securities in the United States. The securities mentioned in this press release have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or federal securities laws, and may not be offered or sold in the United States absent registration under the Securities Act, except pursuant to an applicable exemption from, or in a transaction not subject to, registration under the Securities Act. Advicenne does not intend to register the offering in whole or in part in the United States under or pursuant to the Securities Act or to conduct a public offering in the United States. This press release may not be distributed directly or indirectly in the United States, Canada, Australia or Japan. Lastly, this press release may be drafted in either French or English. In the event of any discrepancies between the two texts, the French version shall prevail.
Fox News
15-07-2025
- Business
- Fox News
Lowering your electric bill could be floating in the ocean
What if the answer to cleaner energy was right out on the waves? A new green energy system is set to change how we capture clean power, and it all starts with the ocean. French startup Seaturns has designed technology that taps into the natural motion of the sea. Their water pendulum turbines are built to last, require little maintenance, and turn rolling waves into electricity. Unlike other renewable options, ocean waves offer a steady, often predictable source of power. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Here's how the water pendulum wave converter works. These large, yellow, floating cylinders pitch back and forth with each passing wave. Inside, the motion causes a column of water to swing like a pendulum, compressing air between two chambers and driving a turbine that generates electricity. This constant back-and-forth movement happens entirely within the hull, protecting components from corrosive saltwater and turbulent seas. Unlike older wave converters that rely on exposed mechanical parts, Seaturns' design is simple, reliable, and self-contained. Backed by organizations such as Bpifrance, Horizon Europe, and marine research institute Ifremer, the project has drawn support from across France's public and private sectors. Seaturns recently completed 18 months of successful offshore testing using a prototype built near Brest, France. Built at quarter-scale, the test demonstrated the system's durability and energy efficiency under harsh marine conditions. This confirms the power-producing concept as a promising alternative to traditional energy technologies. Historically, ocean power projects have struggled due to their complexity, cost, and vulnerability to damage. Seaturns' design addresses these weaknesses head-on. A water pendulum is driven by the horizontal motion of wave surges, allowing it to function efficiently even in shallower waters where wave height is limited. This enables performance in shallower depths, bringing the system closer to shore. Its compact size, modular construction, and simplified deployment process make it attractive for coastal cities, offshore industries, and island communities alike. And unlike wind or solar power, which can fluctuate with weather and daylight, wave converters can generate energy more consistently, though typically at lower output levels, even when skies are cloudy or winds are still. Wave energy offers enormous untapped potential. According to some estimates, global oceans could theoretically produce more than 2 terawatts of renewable electricity using wave technology. That's enough to power a significant portion of national grids, potentially up to a third of the United States' energy demand, if fully harnessed, though real-world output would depend on many local and technical factors. Harnessing even part of Alaska's extensive coastline could significantly reduce fossil fuel reliance in remote communities. Recent academic studies have highlighted the promise of pendulum-based wave energy converters. Their ability to deliver direct mechanical-to-electrical conversion, combined with structural simplicity, makes them a viable path forward for clean ocean power. Speaking of power, want to reduce your energy bills while staying cool? Check out these smart ways to beat the heat at Also, explore the latest innovations in smart thermostat technology for your home Some people point out that wave energy still has its hurdles, like dealing with inconsistent wave patterns and currently lower power output compared to wind or solar farms. Even so, the Seaturns system could be a real breakthrough. Its tough design, simple upkeep, and environmental benefits make it a strong contender for future energy grids. As we keep searching for reliable and sustainable power, wave energy is starting to stand out. Now, the big question is whether creative ideas like water pendulums can help make wave power a key player in the global shift to clean energy. Learn how to save on electricity at home at Would you support the installation of wave energy systems like the Seaturns turbines near your local beach? Tell us why or why not. Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Copyright 2025 All rights reserved.
Skift
27-06-2025
- Business
- Skift
Regional Air Travel Startups Raise Over $85 Million: Funding Roundup
The biggest airlines are behind on updating their tech systems and operations; regional airlines are even further behind. Travel Startup Funding This Week Each week we round up jd@ if you have funding news. Each week we round up travel startups that have recently received or announced funding . Please email Travel Tech Reporter Justin Dawes atif you have funding news. One big theme for travel startups this week is regional air travel. Three companies raised money toward their efforts to modernize various aspects of the industry, from software to aircraft themselves. The biggest airlines are behind on updating their tech systems and operations; Regional airlines are even further behind. Like the rest of the flying taxi startups, one such company on the list seeks to create a new type of commercial travel. Over the last week, six travel startups announced fundraises totaling more than $100 million. Expliseat: $42.1 Million Expliseat, which develops and manufactures lightweight seats for commercial aircraft, has raised $42.1 million (€36 million). Crédit Mutuel Innovation led the round, with support from the SPI fund (managed by public sector investment bank Bpifrance for the French government), Supernova Invest, Swen Capital, BNP Paribas Développement, GO Capital, and NCI. France-based Expliseat says it has invested heavily in research and development for lightweight seats, securing more than 100 patents. The company says that its flagship product, the TiSeat 2, weighs 30% less than traditional seats. The company says it has orders totaling $58.5 million (€50 million). Clients include Air France, Air Canada, and Jazeera Airways. Expliseat has a new facility in France that it says can produce 32,000 units annually. And it recently opened an office in Montreal as it seeks to expand business in the North American aviation market. The funding will go toward business expansion, along with continued R&D for the next generation of its products. The company also plans to move into rail and electric buses. Surf Air Mobility: $27 Million Surf Air Mobility, an airline owner that is also developing tech for regional airlines, has raised $27 million in a registered direct offering of common stock. The company sold roughly 10.8 million shares of common stock for $2.50 each. Surf Air Mobility's regional airline software includes products for operations efficiency, sales and sourcing customers, and aircraft utilization. The company owns two regional airlines — Southern Airways Express and Hawaii's Mokulele Airlines — as well as Surf Air, a website for booking private charter flights. Surf Air is also working to commercialize electric and hybrid-electric powertrains for regional aircrafts, including for the Cessna Caravan. Founded in 2020, Surf Air Mobility acquired the airlines as part of its debut on the stock market through a direct listing on the New York Stock Exchange in 2023. The funding will go toward operations and paying down debt. XTI Aerospace: $16 Million XTI Aerospace, which is developing a flying taxi for long distances, has raised $16 million. The funds come from an underwritten public offering of stock and warrants, priced at $1.75 each. Colorado-based XTI Aerospace is developing a vertical takeoff and landing (VTOL) aircraft called TriFan 600. It is designed to travel up to 1,000 miles at speeds of up to 300 miles per hour, and can carry a pilot and six passengers. The two turboshaft engines are designed to be fully compatible with renewable jet fuels, with future plans for electric engines. The company plans to primarily target the business and commercial travel industries, along with the ambulance industry. XTI Aerospace says it has 700 pre-orders for $10 million per aircraft. XTI Aerospace went public in March 2024 following a merger with Inpixon, which provides location tracking devices that factories can use to monitor equipment and inventory. Inpixon had gone public through a merger with a special purpose acquisition company in 2023. Chatlyn: $9.4 Million Chatlyn, which provides AI-powered guest management tech for hoteliers, has raised $9.4 million (€8 million) in a series A round. Smedvig Ventures led the round, with support from bus company Blaguss, individual investors Andreas Burike (AnyDesk founder) and Mathias Hiebeler (former owner of Grob aircraft, acquired by Helsing), and a group of angel investors. Vienna-based Chatlyn says its tech helps automate hotel operations, including front desk, reservations, marketing, guest services, and guest communication. Features include a public-facing AI assistant for booking, an AI chatbot for hotel guests, translation for more than 35 languages, and more. The startup says its tech is live in more than 1,000 properties, including St. Regis Mauritius, Singer Palace Rome, and InterContinental properties. The funding will go toward product development, geographic expansion, and hiring. StayVista: $4.7 Million StayVista, a property manager and booking site for luxury vacation rentals in India, has raised $4.7 million (400 million Indian rupees) in series B funding. JSW Ventures led the round, with support from DSG Consumer Partners and Capri Global Family Office. Mumbai-based StayVista says it manages 1,000 properties and has hosted more than 1 million guests. The funding will go toward expansion into new cities, hiring, and improving customer experience. Winalist: $1.2 Million Winalist, an online marketplace for booking ticketed experiences related to wine and spirits, has raised $1.2 million (€1 million) in seed funding. Investors included Plug and Play Ventures, Portugal Ventures, and Vessoa Private Equity. France-based Winalist says it partners with more than 1,700 operators in 10 countries. Users can book winery visits, tastings, private wine-pairing dinners, vineyard day-tours, and more. The funding will go toward opening a new branch in Porto, Portugal, as well as hiring, marketing, and increasing operational support for partners.
