### Vora Ventures Acquires Hive Networks

Vora Ventures, a notable player in the **Cincinnati startup ecosystem** since its inception in 2006, has recently made headlines by acquiring **Hive Networks**, a health tech startup emerging from **Cincinnati Children's Hospital**. This strategic acquisition is a significant milestone, marking the ecosystem's second startup exit of **2025**.

Hive Networks is poised to enhance Vora Ventures' **health tech platform**, catering to **learning health networks** across the nation. With this acquisition, Vora Ventures aims to leverage Hive's innovative solutions and expertise to further its mission of improving health outcomes through technology.

This move not only underscores the growing importance of health technology in today's landscape but also highlights Vora Ventures' commitment to fostering innovation and supporting local startups with **high growth potential**.

Vora Ventures acquires Hive Networks, a startup spun out of Cincinnati Children's Hospital, to expand its health tech platform for learning health networks nationwide.

Vora Ventures Expands Health Tech Footprint with Acquisition of Hive Networks

**Google's ad network** has taken a significant leap by integrating **advertising within chatbot conversations**, marking a strategic move by **Alphabet Inc.** to maintain its dominance in the **digital advertising** landscape amid the rise of **generative artificial intelligence**.  

Earlier this year, the **Google AdSense network**, traditionally known for displaying ads in search results and website margins, has now expanded to include **interactions with chatbots** developed by various **AI startups**. This decision came after conducting tests with a select group of startups, including **AI search applications** like **iAsk** and **Liner**. This development highlights Google's commitment to innovating its advertising strategies and exploring new avenues for revenue generation as the landscape shifts towards more interactive and engaging formats.

Google’s ad network has begun showing advertising within the flow of conversations with chatbots — part of Alphabet Inc.’s efforts to keep its edge in digital advertising as generative artificial intelligence takes off.

Revolutionizing Advertising: Google Integrates Ads into Chatbot Conversations with AI Startups

### Overview of the Investment
Japan's **Sumitomo** and **Builders Vision**, an impact investment fund, have recently invested in **Phoenix Tailings**, a U.S.-based startup focused on rare earths processing. This strategic move aims to bolster the production of these crucial minerals outside of China.

### The Importance of Rare Earths
**Rare earths**, comprising a group of 17 metals, are essential for manufacturing magnets that convert power into motion for **electric vehicles**, **cell phones**, and various other electronics. However, the traditional method of refining these minerals, known as **solvent extraction**, has been criticized for being both expensive and environmentally damaging. Although popular in the U.S. in the 1950s, this method has since fallen out of favor as Chinese companies have perfected it.

### Current Market Dynamics
With **China's exports of rare earths** coming to a standstill, there is a heightened urgency in the West to find alternative sources. **Phoenix Tailings** claims that its innovative process can extract rare earths from both mined ore and recycled equipment with **minimal to zero emissions**.

### Funding Details
Recently, Phoenix Tailings secured a **$33 million** investment as part of its **Series B funding round**, which closed on April 25. This funding round included participation from **Yamaha Motor**, along with several venture capital firms such as **Envisioning Partners**, **MPower**, and **Escape Velocity**. Although specific investment amounts from each entity remain undisclosed, the company plans to utilize this funding to construct a **$13 million facility** in **Exeter, New Hampshire**, which is expected to produce **200 metric tons of rare earths annually** upon its opening later this year.

### Funding History
This latest tranche brings the total of Phoenix's Series B funding to **$76 million**, following a previous **$43 million** round, alongside an earlier **$10 million Series A** round concluded in August 2021.

Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones and other electronics.  China's exports of rare earths have ground to a halt, fueling a scramble across the West for replacements.  Phoenix says its process can produce rare earths from mined ore or recycled equipment with little to no emissions.

Investing in the Future: Sumitomo and Builders Vision Propel Phoenix Tailings to the Forefront of Rare Earths Production

### A New Era in AI Development
A groundbreaking **crowd-trained approach** to developing **large language models (LLMs)** over the internet is set to disrupt the AI industry. This innovative method could lead to the release of a **100 billion-parameter model** later this year.

![AI Lab](https://media.wired.com/photos/681145fabe9752a4760f6bee/1:1/w_2560%2Cc_limit/AI-Lab-LLM-Scaling-Business.jpg)

#### The Collective-1 Model
Startups **Flower AI** and **Vana** have collaborated to create a new model known as **Collective-1**, which leverages **distributed computing** to train AI. This model utilizes **private and public data**, indicating a shift in how AI is developed.

Flower AI’s technology enables training across numerous computers connected via the internet, allowing companies to develop AI models without needing centralized data or compute resources. Vana contributes data from platforms like **X**, **Reddit**, and **Telegram** to enhance training.

#### Scale and Future Plans
While Collective-1 currently has **7 billion parameters**, Flower AI is working on a model with **30 billion parameters** and aims for a **100 billion-parameter model** soon. This distributed approach has the potential to **reshape the AI landscape**, making it feasible for smaller companies and universities to participate in advanced AI development.

#### Rethinking AI Training
Traditional AI models are built using massive amounts of data housed in **data centers** with advanced GPUs. The new distributed method allows computations to occur across various locations, potentially transforming the power dynamics in the AI field.

#### The Role of User Data
Vana is also pioneering a method for users to share their personal data for AI training, granting them control over its usage and potential financial benefits. This could unlock new data sources, especially in sensitive areas like **healthcare** and **finance**.

### Conclusion
Flower AI’s innovative methods promise to democratize AI development, enabling broader participation and potentially leading to new, powerful models that leverage decentralized data. This shift could significantly impact how the AI industry evolves in the coming years.

A new crowd-trained way to develop LLMs over the internet could shake up the AI industry with a giant 100 billion-parameter model later this year.

Revolutionizing AI: How Startups are Creating Advanced Models Without Data Centers

### Quick Take
- **Re7 Capital** has launched a **$10 million fund** to invest in early **SocialFi** startups despite the category’s slow traction.
- Luc de Leyritz, Re7 Capital’s partner, stated, **“The timing is right: infrastructure, talent, and user behavior are finally aligned.”**

![Funding News](https://www.tbstat.com/cdn-cgi/image/format=webp,q=50/wp/uploads/2025/01/20250115_Funding_News-1200x675.jpg)

**Re7 Capital**, a decentralized finance-focused investment firm managing over **$600 million** in digital assets, has initiated a **$10 million venture fund** aimed at the intersection of **social media and decentralized finance** (SocialFi). The fund is designed to support around **30 early-stage startups** in this emerging sector.

Despite SocialFi's **limited traction**, Luc de Leyritz asserts it is **“the most important category”** in crypto investing today, acknowledging the **“non-consensus view.”** He recently joined Re7 Capital from Cherry Ventures, where he was an investment manager.

While the fund’s size may seem modest, Leyritz explained that Re7 Capital acts as a **first-check investor**, typically issuing checks between **$100,000 and $300,000**, allowing support for up to **30 teams** with a focused strategy, reserving additional capital for follow-up investments.

> **“A small fund keeps incentives on carry, not fees, forces discipline, and lets us move fast,”** Leyritz emphasized. **“If the thesis proves out, we'll scale the next vintage.”**

The fund has backing from **Re7 Capital** and other notable investors, including **Lens**, a SocialFi platform by Aave's **Stani Kulechov**, and **Dan Romero**, co-founder of **Farcaster**. Over **60%** of the fund has already been committed, with a second close anticipated in June.

### Why Re7 Capital is Betting on SocialFi Now
Leyritz believes that **“the timing is right”** for SocialFi investments due to the convergence of various factors, including:
- **Infrastructure**: The advent of **Lens Chain**, a Layer 2 blockchain tailored for SocialFi, allows for quick development of standalone social finance applications.
- **User Behavior**: A shift towards **attention-based incentive models** on social platforms is emerging, with creators beginning to see new monetization opportunities.

Leyritz expects broader adoption of SocialFi within the next **12-24 months**, as more than **200 teams** are actively developing projects in this space. The new fund will target startups across various blockchain ecosystems, including those on **Lens Chain** and **Farcaster**.

**Re7 Capital** views this venture fund as a timely expansion, highlighting a **structural opportunity** in early-stage crypto ventures, driven by the **convergence of attention, composability, and capital flows** in SocialFi.

"The timing is right: infrastructure, talent, and user behavior are finally aligned," Re7 Capital's Luc de Leyritz told The Block.

Re7 Capital Launches $10 Million Fund to Propel SocialFi Startups Amidst Growing Momentum

### Supio: Pioneering AI in Legal Analysis

**Supio**, a startup harnessing the power of **AI** to automate data collection and analysis for legal teams, has successfully raised **$60 million** in a funding round led by **Sapphire Ventures**, with additional support from **Mayfield** and **Thomson Reuters Ventures**. This funding elevates Supio's total capital raised to **$91 million**.

The investment will be utilized for **growth**, **hiring**, and **go-to-market** strategies. Co-founder and CEO **Jerry Zhou** indicated plans to expand their Seattle headquarters and open a new office, aiming to **double** their current **100-person staff**.

### The Growing AI LegalTech Space

In an increasingly competitive **AI legal tech** environment, Supio stands out among numerous startups. Despite some **skepticism** regarding AI’s effectiveness in legal tasks, law firms are feeling the pressure to integrate AI solutions to remain competitive. A recent survey revealed that AI adoption in the legal sector surged from **11% in 2023** to **30% in 2024**.

### The Vision Behind Supio

The concept for Supio originated when Zhou and his childhood friend **Lam**, both former employees at **Avalara**, recognized an opportunity to **transform document handling** within the legal field. Zhou highlighted the extensive hours attorneys and paralegals spend manually analyzing **medical records**, **police reports**, and **expert opinions**. Supio's core product aims to provide these professionals with a profound understanding of their **complex, unstructured data**.

Focusing on **personal injury law**, Supio's AI-powered platform integrates with existing law firm file systems to enhance **case management**. Zhou emphasized the importance of **human verification** to mitigate errors introduced by AI and maintain accuracy. 

### Success and Expansion Plans

In the past year, Supio has experienced remarkable growth, with **annual recurring revenue** increasing **4x** along with a growing customer base that includes notable firms like **Hughes & Coleman**, **Daniel Stark**, and **Whitley Law**. To facilitate this growth, Supio has appointed leaders in **sales**, **customer success**, and **marketing**.

Zhou states, “AI has created a major inflection point for the legal industry. Every firm across every sub-vertical of law is considering how to reinvent themselves for the AI era. If **Excel** transformed finance 30 years ago, AI will do the same for legal professionals.”

Supio, a startup that uses AI to automate data collection and analysis for legal teams, has raised $60 million in a funding round led by Sapphire Ventures

Supio Raises $60M to Revolutionize Legal Tech with AI Automation

### Kintsugi's Journey in Sales Tax Compliance  
Kintsugi, a **Silicon Valley-based startup**, is transforming how businesses handle sales tax compliance. Recently, they raised **$18 million** in funding led by Vertex, a global indirect tax technology provider. This funding is poised to help **small and medium businesses** leverage Kintsugi's **AI capabilities** for tax calculations and filings.  
  
### The Need for Tax Automation  
With the rise of **e-commerce** and **cross-border trade**, tax regulations have become increasingly complex. Kintsugi's software integrates with popular platforms like **Shopify, Stripe, and Quickbooks**, providing a comprehensive overview of revenue and enabling instant tax calculations.  
  
### Vision and Goals  
Pujun Bhatnagar, co-founder and CEO, likens their mission to what **Uber** did for taxis and **Stripe** for payments, aiming to simplify compliance across **171 countries**. Founded in **2023**, Kintsugi sees the **2018 Supreme Court ruling** as a pivotal moment for the industry, allowing states to mandate online sellers to collect sales tax.  
  
### Competitive Advantage  
Kintsugi claims to operate at **half the cost of Avalara**, allowing users to determine their sales tax liability in just **seven clicks and three minutes**. The startup offers free sales tax calculations, charging only for tax filing, and provides an option for **auto-remit** to automate the filing process.  
  
### Growth and Future Plans  
After generating **$3 million in annual revenue** last year, Kintsugi aims to exceed **$10 million by 2025**. They boast a **0.1% churn rate** with a customer base of **2,400** businesses, ranging from startups to those generating up to **$500 million** in revenue.  
  
### Partnership and Valuation  
Vertex's investment includes a **$15 million minority stake** in Kintsugi and a commitment to invest an additional **$10-$12 million** this year for AI integrations. This funding has boosted Kintsugi's valuation to **$150 million**, nearly doubling from its previous **$80 million** valuation.  
  
### Global Expansion  
With **profit margins exceeding 93%** and a workforce of 95, Kintsugi is expanding beyond North America into **South America, Africa,** and **Asia**. Currently, **45%** of their customers are SaaS companies, processing **5.5 million transactions** worth **$7.7 billion**.  
![Kintsugi Valuation](https://techcrunch.com/wp-content/uploads/2025/04/kintsugi-valuation.jpg)
*Image Credits: Jagmeet Singh / TechCrunch*

Kintsugi, a Silicon Valley-based startup that helps companies offload and automate their sales tax compliance, has raised $18 million in new funding led

Kintsugi: The AI Startup Revolutionizing Sales Tax Compliance with a $150 Million Valuation

## VCI Global’s Fintech Triumph: Credilab's $1 Million Boost from Dubai

**VCI Global**'s fintech arm **Credilab** has successfully secured a **$1 million strategic investment** from **Triple Helix Capital**, based in Dubai. This digital lending platform is making waves in **Malaysia**, focusing on providing **same-day loans** to underserved sectors including microfinance and SMEs.

### Impressive Growth Metrics
The company's performance has been nothing short of remarkable:
- **Revenue**: $0.7 million in H1 2024, marking a **116% year-over-year growth**.
- **Non-Performing Loan (NPL) Rate**: Nearly zero, showcasing effective risk management.
- **Loan Book Value**: $13.3 million as of June 2024, reflecting a **67% increase**.

### Streamlined Lending Process
Credilab's platform streamlines the lending journey, ensuring regulatory compliance while enhancing customer experience. The recent investment will facilitate:
- **Expansion of the platform**
- **Broader financial product offerings**
- **Market entry strategies**

Credilab is on a mission to establish itself as a **category-defining leader** in the global fintech arena, leveraging innovative technology to enhance financial inclusion.

### Future Outlook
With the backing of Triple Helix, Credilab is poised for aggressive growth, aiming to unlock further capital and broaden its market reach. This strategic investment underscores the potential of Credilab to become a significant player in the fintech landscape of Southeast Asia and beyond.

Dubai's Triple Helix invests $1M in VCI Global's fintech arm showing 116% revenue growth. Discover how this digital lender is disrupting SEA finance. See growth metrics.

Vora Ventures Expands Health Tech Footprint with Acquisition of Hive Networks

Summary:

Vora Ventures Acquires Hive Networks

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