## Saudi Investment Powerhouse Backs Tech Startup

The **venture capital arm** of Saudi Arabia’s **sovereign wealth fund** has made a significant move by backing a **$135 million fundraising round** for **iMENA Holding**, a technology firm with ambitious plans for an **initial public offering (IPO)** in the kingdom.

Sanabil Investments, a key player in this investment, partnered with notable investors including **New York-based VC firm FJ Labs**. This funding round marks a pivotal moment for iMENA as it aims to **restructure** itself into a Saudi company and establish its base in **Riyadh**, gearing up for a **listing on the local stock exchange** within the next two years.

The venture capital arm of Saudi Arabia’s sovereign wealth fund has backed a $135 million fundraising round for technology firm iMENA Holding as the company plans for an initial public offering in the kingdom.

Saudi Arabia's Sovereign Fund Fuels iMENA Holding's IPO Ambitions with $135 Million Investment

**Mentaily**, an Israeli startup founded in 2024 in response to the aftermath of the October 7th terror attack, has successfully raised **$3 million in Seed funding** to advance its **AI-powered mental health assessment platform, LIV**. This innovative platform is set to transform the accessibility and accuracy of mental health care globally.

### The LIV Platform: A Game-Changer in Mental Health
LIV is designed to **simulate clinical psychiatric intake sessions** with remarkable accuracy, offering a **scalable and personalized solution** to mental health diagnosis. This technology addresses a critical global issue: the **shortage of mental health professionals** and services, especially in underserved regions.

### Addressing a Global Crisis
With **one in five people in the U.S. affected by mental health disorders** and over **120 million Americans living in areas with insufficient mental health care**, the need for innovative solutions is urgent. In Israel, LIV is also tackling the mental health challenges faced by **high-stress populations**, such as military personnel and security forces.

### Cutting-Edge Technology
LIV utilizes **natural-language processing** to conduct mental health assessments through voice and text, with an optional **AI avatar** for enhanced interaction. Developed in collaboration with the **ARC Innovation Center**, **Sheba Medical Center**, **Microsoft**, and **KPMG**, LIV represents a significant leap forward in mental health technology.

### Leadership and Vision
**Iris Shtein**, CEO and Co-Founder of Mentaily, highlights the platform's potential: "LIV enables **real-time detection of deterioration and high-risk situations**, allowing clinical teams to intervene early with precision. Our scalable platform enhances access and accuracy, empowering systems to prioritize care where it’s needed most."

### Expanding Applications
Beyond general mental health care, LIV is being used in collaboration with **Israel's Ministry of Defense** and the **Directorate of Defense Research & Development (DDR&D)** to support military and security personnel. Future versions will cater to other at-risk groups, including **children, adolescents, and women**.

### Current and Future Impact
Currently deployed in **hospitals, HMOs, rehabilitation centers, and government organizations** across Israel, the new funding will enable Mentaily to **accelerate development and expand services** both locally and internationally.

Founded in response to the aftermath of the October 7th terror attack, the Israeli startup’s LIV platform is designed to expand access to mental health care and assist with high-stress populations.

AI-Powered Mental Health Breakthrough: Mentaily's LIV Platform Secures $3M to Revolutionize Care

**Indian defence tech startup Zebu** has secured **$1 million in pre-series A funding**, led by Bluehill VC. This investment is set to accelerate the development and deployment of Zebu's **mission-critical drones**, transitioning them from prototype to battlefield readiness.

### Fast-Tracking Innovation
With this funding, Zebu aims to **enhance field testing** and achieve production readiness, positioning itself as a **key supplier to the Indian armed forces**. The Hyderabad-based company specializes in **counter-drone and unmanned systems**, crucial for modern military operations.

> "The global counter drone market is expected to reach $11 billion by 2030. Zebu is rightly positioned to capture this market with its top-of-the-line offerings for the armed forces," said **Sridhar Parthasarathi, General Partner at Bluehill VC**.

### Breakthrough Technologies
Zebu has made significant strides with its **IAF Net Capture Drone**, a revolutionary system capable of **trapping hostile drones mid-air**. In just six months, this technology has progressed from a skeletal model to achieving **military grade certification milestones**.

Additionally, Zebu is developing an **Anti-Drone Swarm System** for the Indian Air Force, featuring **rapid-fire pneumatic launchers**. This system is slated for **operational readiness by late 2025**.

> "The battlefield of the future is AI-led and unmanned, that is inevitable — Zebu is making it indigenously available," emphasized **Santosh Balajee, Founder and CEO of Zebu**. He highlighted the opportunity to bridge the **tech integration gap in India's defense sector** and export **India's defense sovereignty globally**.

The funds will fast-track four of Zebu’s mission-critical drones from prototype to battlefield deployment. The Hyderabad-based company is also building an Anti-Drone Swarm System for the Air Force.

Zebu's $1M Boost: Pioneering India's Defence Tech with Cutting-Edge Drones

**Jenny Jing Zhu's journey** from a small village in China to founding **Lush Decor**, a $100 million home decor company, is nothing short of inspirational. Starting during the **2008 financial crisis**, Zhu's story is a testament to resilience, creativity, and the power of dreaming big.

### **The Early Struggles**
Growing up in a rural village without electricity until second grade, Zhu was the only girl from her village to attend high school. A story about a woman who left her village to start a business sparked her dream. Moving to Beijing, she worked as a hotel maid and ran a dry cleaning business before immigrating to the US at 26.

### **Breaking Into the Fashion Industry**
Inspired by **Vera Wang**, Zhu applied to the Fashion Institute of Technology but was redirected to home fashion due to competition. Her childhood experiences with textiles, from planting cotton to weaving fabric, fueled her passion for home decor.

### **Launching Lush Decor in 2008**
With the economy collapsing and personal challenges mounting, Zhu started **Lush Decor** with a focus on unique, affordable designs. Despite skepticism about e-commerce in home decor, she persisted, hand-labeling packages and leveraging unique designs like crocodile skin bags and Vera Wang-inspired bedding.

### **Overcoming Imposter Syndrome**
Zhu faced immense pressure, with no safety net or mentor. Her **passion and persistence** drove her to learn on the job, eventually leading Lush Decor to profitability by 2012 and surpassing $100 million in revenue by 2021.

### **Lessons for Today's Entrepreneurs**
Zhu emphasizes the importance of **resilience and community**, especially in challenging times like the current economic climate. She advises entrepreneurs to focus on what they can control and to diversify supply chains where possible.

Jenny Jing Zhu came to the US speaking little English. She started her now-$100 million home design company Lush Decor amid the 2008 financial crisis.

From Rural China to a $100M Empire: How Jenny Jing Zhu Built Lush Decor Against All Odds

**Billy Evans**, the romantic partner of the infamous **Elizabeth Holmes** and father of her children, has reportedly raised millions for a new blood-testing startup named **Haemanthus**. This venture eerily mirrors the now-defunct **Theranos**, which led Holmes to federal prison for fraud.

### The Haemanthus Pitch
Evans, an heir to a hotel fortune, is pitching Haemanthus as a health-testing company capable of diagnosing conditions from **blood, urine, and saliva**. A January patent suggests the technology could test these samples for diagnoses, starting with animals before moving to humans.

### Echoes of Theranos
Theranos, under Holmes, claimed to revolutionize blood testing with technology that required only small amounts of blood. However, it was later revealed that the technology was **fraudulent**, leading to the company's dissolution and Holmes' imprisonment.

Haemanthus's marketing materials promise a laser-based technology to scan samples and detect illnesses, cancer, or infections in seconds. The long-term goal includes developing a **wearable version** for humans.

Despite skepticism, Evans has raised nearly **$20 million** from friends and investors, with Holmes reportedly advising him from prison. The couple met in 2017 during Holmes' fraud investigation, and Evans now lives in Texas with their children, close to where Holmes is serving her sentence.

Billy Evans, father of Holmes’s children, says company can make diagnoses from users’ blood, urine and saliva

From Theranos to Haemanthus: The Controversial Rise of a New Blood-Testing Startup

**Durham entrepreneur Pierce Freelon** is revolutionizing the way we enjoy ice cream with his innovative creation, **Coco Fro**, a **vegan freeze-dried ice cream**. This **nostalgic treat** is not just a nod to the astronaut ice cream of yesteryears but a **modern, plant-based twist** that's gaining **traction in specialty stores** across the country.

### The Inspiration Behind Coco Fro
Freelon's inspiration came from a desire to merge **childhood nostalgia** with **contemporary dietary preferences**. Recognizing the growing demand for **vegan and allergy-friendly options**, he saw an opportunity to reinvent the **freeze-dried ice cream** experience.

### Why It's Gaining Popularity
- **Vegan-friendly**: Appeals to those following plant-based diets.
- **Allergy-conscious**: Free from common allergens, making it accessible to more people.
- **Innovative texture**: The freeze-drying process gives it a unique, crunchy yet creamy texture that's unlike traditional ice cream.

### Where to Find It
Coco Fro is currently available in **select specialty stores**, with plans to expand its reach. Freelon's vision is to make this **space-age treat** a household name, proving that **innovation and nostalgia** can indeed go hand in hand.

Durham entrepreneur Pierce Freelon creates Coco Fro, a vegan freeze-dried ice cream. His nostalgic treat is gaining traction in specialty stores.

Vegan Freeze-Dried Ice Cream: The Space-Age Treat Taking Specialty Stores by Storm

**Mandy Teefey**, CEO of **Wondermind** and mother to billionaire **Selena Gomez**, took a bold step to ensure her employees were paid by securing a loan against her home. This move came as the mental health startup faced financial difficulties in March, struggling to meet payroll for its 15 employees, alongside vendors and freelancers.

According to **Forbes**, while employees have received one of two missed paychecks, freelancers and vendors are still awaiting payments totaling **hundreds of thousands of dollars**. An additional **$60,000** is owed to a PR firm, as reported by anonymous sources.

Wondermind has stated that the issue has been **rectified**, with remaining payments scheduled for the following Monday. The company emphasized its commitment to overcoming **startup growing pains** and continuing its mission in mental fitness.

The financial challenges reportedly began in **January 2023** when Teefey became the sole CEO. Despite her experience managing Gomez's entertainment career, some employees questioned her ability to steer the business to success. Allegations surfaced about Teefey declining lucrative brand deals that required Gomez's involvement, though these claims were dismissed as **misleading** by Wondermind's chief of staff, **Emma Wright**.

Founded in **2021**, Wondermind raised **$5 million** in funding the following year. Meanwhile, Selena Gomez achieved **billionaire status** in September 2024, largely due to her **Rare Beauty** makeup brand, with her stake in Wondermind also contributing to her wealth.

Billionaire Selena Gomez's mom, Mandy Teefey, reportedly took out a loan against her home to pay workers at her and her daughter's mental health company, Wondermind.

Selena Gomez's Mom Sacrifices Home Loan to Save Mental Health Startup Employees

**StackAI**, a pioneering no-code AI startup, has successfully raised **$16 million in Series A funding** led by **Lobby VC**. This investment underscores the growing demand for accessible AI solutions that empower enterprises to create custom **AI agents** for streamlining business operations.

### The Rise of No-Code AI Platforms
In an era where **digital transformation** is paramount, StackAI stands out by enabling businesses to **develop AI agents without the need for extensive coding knowledge**. This approach democratizes AI technology, making it accessible to a broader range of companies.

![StackAI co-founders Bernard Aceituno and Antoni Rosino](https://i.insider.com/681cd404a466d2b74ab5661d?width=700)

### What Sets StackAI Apart?
- **No-code platform**: Allows users to build AI agents through a user-friendly interface.
- **Enterprise focus**: Tailored solutions for business operations, enhancing efficiency and productivity.
- **Scalability**: Designed to grow with your business, ensuring long-term value.

This funding round marks a significant milestone for StackAI, positioning it as a key player in the **no-code AI movement**. The company plans to use the capital to **expand its team, enhance its platform, and accelerate market penetration**.

No-code AI startup StackAI raises $16 million Series A from Lobby VC, offering enterprises tools to create AI agents for business operations.

Saudi Arabia's Sovereign Fund Fuels iMENA Holding's IPO Ambitions with $135 Million Investment

Summary:

Saudi Investment Powerhouse Backs Tech Startup

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Other Latest News

AI-Powered Mental Health Breakthrough: Mentaily's LIV Platform Secures $3M to Revolutionize Care

Zebu's $1M Boost: Pioneering India's Defence Tech with Cutting-Edge Drones

From Rural China to a $100M Empire: How Jenny Jing Zhu Built Lush Decor Against All Odds

From Theranos to Haemanthus: The Controversial Rise of a New Blood-Testing Startup

Vegan Freeze-Dried Ice Cream: The Space-Age Treat Taking Specialty Stores by Storm

Selena Gomez's Mom Sacrifices Home Loan to Save Mental Health Startup Employees

How StackAI's No-Code Platform Secured a $16M Series A to Revolutionize Business AI Agents

Other Latest News

AI-Powered Mental Health Breakthrough: Mentaily's LIV Platform Secures $3M to Revolutionize Care

Zebu's $1M Boost: Pioneering India's Defence Tech with Cutting-Edge Drones

From Rural China to a $100M Empire: How Jenny Jing Zhu Built Lush Decor Against All Odds

From Theranos to Haemanthus: The Controversial Rise of a New Blood-Testing Startup

Vegan Freeze-Dried Ice Cream: The Space-Age Treat Taking Specialty Stores by Storm

Selena Gomez's Mom Sacrifices Home Loan to Save Mental Health Startup Employees

How StackAI's No-Code Platform Secured a $16M Series A to Revolutionize Business AI Agents