Future AGI launches world’s most accurate multimodal AI evaluation tool

Future AGI launches world’s most accurate multimodal AI evaluation tool




Future AGI launches world’s most accurate multimodal AI evaluation tool

AI infrastructure startup launches comprehensive evaluation and optimization platform to help enterprises achieve 99% accuracy in AI applications across software and hardware

San Francisco, Feb. 11, 2025 (GLOBE NEWSWIRE) — While enterprise AI adoption accelerates, 85% of AI projects fail to meet expectations due to accuracy and reliability challenges in tooling*. Current tools lack the depth to provide actionable insights, leaving teams with vague evaluations without identifying root causes or improvement strategies. 

Today, Future AGI announces a $1.6M pre-seed funding round to scale its AI lifecycle management platform that enables enterprises to build and maintain high-performing AI applications with unprecedented accuracy. The funding round is co-led by Powerhouse Ventures and Snow Leopard Ventures, with participation from Angellist Quant Fund, Swadharma Source Ventures, Saka Ventures and a marquee group of 30+ industry stalwarts and angels.

Future AGI founders: Nikhil Pareek and Charu Gupta.

Current AI tooling falls short in several critical areas—ranging from generating high-quality synthetic data and providing granular error analysis to enabling effective feedback and optimization loops—leaving cross-functional teams of subject matter experts, data scientists, and software developers without clear pathways to improvement. Most evaluations remain manual and superficial, with developers often defaulting to guesswork or “vibe checks” rather than informed experimentation. This fragmented ecosystem, coupled with limited domain expertise in tooling usage, makes it exceedingly difficult to pinpoint where models fail, devise data-driven remediation strategies, and ultimately treat AI development with the same rigor as modern software engineering.

Building trustworthy high-performing AI applications is complex — requiring rapid iterations across models, prompts, and data while safeguarding against harmful outputs. Future AGI’s platform streamlines this entire lifecycle with rapid experimentation, deep multi-modal evaluations, real-time observability, and continuous improvement capabilities. The platform’s proprietary technology includes advanced evaluation systems for text and images, agent optimizers, and auto-annotation tools that can reduce AI product development time by up to 95%. Users can complete evaluations in minutes and automatically optimize their AI systems for production, eliminating manual overhead and ensuring consistent performance.

“AI is becoming the new software, but its widespread adoption faces a critical challenge – reliability and accuracy at scale,” said Nikhil Pareek, CEO of Future AGI. “Today’s AI systems are probabilistic and error-prone, with improvement cycles taking 6-8 months. We’re building the foundational layer that ensures AI systems are trustworthy and reliable in production. Our platform isn’t just about workflow automation – we’re creating the data layer that continuously monitors, evaluates, and improves AI systems across multimodal interactions.”
FutureAGI is making significant strides across various industries. A Series E sales-tech company leveraged FutureAGI’s LLM Experimentation Hub to achieve an impressive 99% accuracy in agentic pipeline, accelerating their processes 10 times faster than previous methods, compressing weeks of work into just hours. This transformation has drastically improved their capacity for delivering personalized customer interactions at scale.

In another case, an AI image generation company utilized FutureAGI’s platform to streamline its image generation pipeline, resulting in a remarkable 90% reduction in costs by decreasing reliance on human evaluators while maintaining 99% accuracy for catalog and marketing images. These examples highlight FutureAGI’s ability to optimize operations and drive substantial cost savings while enhancing performance.

The platform’s capabilities extend beyond pure software applications to hardware AI agents in robotics and autonomous vehicles, where accuracy requirements are even more stringent. Future AGI’s synthetic data generation and evaluation systems enable companies to simulate edge cases and validate AI models under various real-world conditions before deployment.

Future AGI was the genesis of Nikhil Pareek and Charu Gupta and was born out of founders’ frustration with the growing challenges in data collection, annotation, and training model readiness. Each iteration magnified these issues, and through conversations with fellow AI builders, they realized this problem was widespread. Nikhil Pareek is a former AI founder, with multiple patents and research papers, comes with experience ranging from building autonomous drones to tackling complex data science challenges for Fortune 50 companies. Charu Gupta is a veteran in revenue growth, having successfully navigated multiple startups from inception to achieving revenues of up to $100 million. 

Future AGI team.

With a powerful team of 30 AI researchers and ML engineers—hailing from Microsoft, Amazon, and other top tech giants—alongside alumni from Ivy League and premier institutions, they bring deep expertise in AI innovation, published research, and patented technologies. Together, the team is tackling one of AI’s most formidable challenges—redefining accuracy and trust in AI at an unprecedented scale’

“The AI landscape is evolving rapidly, and one of the biggest challenges enterprises face today is ensuring the accuracy and reliability of their AI applications,” said Sri Peddu, General Partner at Powerhouse Ventures “Future AGI’s innovative approach to solving this critical problem through their comprehensive AI lifecycle management platform positions them uniquely in the market. We believe their solution will be instrumental in helping companies achieve the highest accuracy levels required for production-grade AI applications.”

We believe great people build great companies, and we know from our data that Future AGI is one of the top early-stage startups for attracting the best job applicants on Wellfound (fka AngelList Talent)” said Abraham Othman, PhD, managing partner of the AngelList Early-Stage Quant Fund.

The timing for this challenge becomes especially critical as organizations transition from experimental AI implementations to business-critical applications, and as major players like Meta, Google, and Anthropic rapidly expand into multimodal AI — combining text, images, audio, and video. This evolution of AI has intensified market demand for solutions that can effectively manage the trustworthiness and reliability of AI products by ensuring accuracy.

Looking ahead, Future AGI will use the new funding to accelerate product development and grow its engineering and growth teams while strengthening its proprietary technology stack. The company has offices in the Bay Area and its R&D center in Bangalore, positioning it to serve the growing global demand for reliable AI solutions.

Ends 
*Gartner, Gartner Business Insights, Strategies & Trends For Executives

Media images can be found here

About Future AGI
Future AGI is a venture-backed AI infrastructure company founded by seasoned entrepreneurs with deep expertise in AI and business scaling. Led by a technical founder with multiple patents and an experienced business leader, the company is transforming how enterprises build and maintain high-quality AI products. Our platform dramatically reduces the time and effort needed to achieve reliable AI systems, enabling organizations to confidently deploy AI across their operations. With a growing roster of clients and POCs, Future AGI is positioned to become the foundation for trustworthy AI development.

Founded in 2024 and headquartered in the US with an R&D center in India, Future AGI’s proprietary technology includes advanced evaluation systems for text and images, auto-tuning prompt optimizers, and auto-annotation tools that can reduce AI product development time by up to 95%. The company serves a diverse client base ranging from late-stage startups to Fortune 500 companies, helping them achieve and maintain 99% accuracy in their AI applications.

Powerhouse Ventures
Powerhouse Ventures (PV) is a Singapore-based early-stage Venture Capital firm with an investment focus on startups emerging from India and the United States. PV supports early-stage companies in high-growth sectors where technology is the driver. Currently, PV manages an active portfolio of 40+ companies spread across India, the United States, and Singapore and includes category-defining companies such as Whatfix, Slintel, Medibuddy, Quizizz, DailyRounds/Marrow, Sybill, etc.

Snow Leopard Ventures
Snow Leopard Ventures/Snow Leopard Global Capital Management is a global alternative asset manager investing largely proprietary capital with offices in Pune, India and New York, NY. The firm invests across multiple industries and across different stages, from pre-seed through pre-IPO.

AngelList Early Stage Quant Fund
The AngelList Early Stage Quant Fund is a data-driven investment fund that has raised $25 million to invest in over 100 early-stage startups in technology, data, and finance sectors, leveraging advanced analytics to enhance decision-making.

CONTACT: For further information please contact the Future AGI press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257.

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates




BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ, a leading B2B managed marketplace for construction materials with embedded financing, has successfully closed its Series A funding to meet the growing demand for efficient construction procurement and financing in Saudi Arabia.

Riyadh, Feb. 10, 2025 (GLOBE NEWSWIRE) — While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials.

The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing investors strongly recommitted, including BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood Investment Advisory, and Fluent Ventures.

Founded in 2023 by Ibrahim Manna, serial entrepreneur and former Managing Director at Careem, BRKZ emerged from firsthand experience with construction industry inefficiencies. “Traditional procurement in construction is highly fragmented and manual, often requiring contractors to juggle multiple suppliers, long negotiations, and delayed payments,” said Ibrahim Manna, Founder and CEO of BRKZ. “This funding will help us double down on tech development, enhance our BNPL offering aligned with construction cash flow cycles, and expand into cross-border trading.”

The BRKZ team.

Unlike traditional procurement methods, BRKZ’s platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform’s built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry.

The platform’s rapid adoption validates its approach. Since launching its Series A1, BRKZ has grown revenue fourfold during 2024, now serving more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea. The company has expanded its delivery network to over 40 cities across Saudi Arabia, with offices in three major regions, while processing $350m (SAR 1.3 billion) in RFQs through its platform.

BRKZ marketplace and app.

Real-world applications demonstrate the platform’s transformative impact. A contractor working in KSA’s central region, awarded a project in the Western Region, used BRKZ to price and procure materials from local suppliers despite having no team in the project location. Similarly, a local cement block factory broke traditional geographical constraints by listing on BRKZ, expanding its customer base while sourcing raw materials through the platform.

AbdulRauf H. Al-Matar, AGM at AlRashed Building Materials commented: “Partnering with BRKZ has revolutionized how we connect with contractors and streamline our operations. Their innovative approach to digitizing the construction industry is setting a new standard for efficiency and growth.”

Tamer Salah, CEO at AlMimar AlAraby for General Contracting added: “Working with BRKZ has been a game-changer for us. Their focus on understanding contractors’ needs and delivering tailored solutions has made it easier to meet tight deadlines and exceed customer expectations. BRKZ’s highly advanced technology provides the best e-commerce platform, which makes it easy to manage my orders and get automated updates on their status.”

The construction market in MENA represents a massive opportunity, driven by mega-projects reshaping the region. Major developments like Neom, The Red Sea Project, King Salman Park, and upcoming events like Expo 2030 and FIFA World Cup in Saudi Arabia underscore the urgent need for innovative, tech-driven solutions to streamline procurement and enhance efficiency.

Dany Farha, co-founder and managing partner at BECO Capital, commented: “The construction industry is foundational to the Kingdom’s Vision 2030, and is ripe for technology and organizational optimization. The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitized procurement platform and address customer cash flow challenges. Having known Ibrahim and the team for years, we’ve seen firsthand their agility, prudence, and unique skill set that enable them to fulfill their promise of digitizing this industry.”

Looking ahead, BRKZ plans to establish offices in Saudi Arabia’s Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

Ends 

Media images can be found here.

About BRKZ

BRKZ is a B2B managed marketplace transforming construction procurement in Saudi Arabia. By connecting contractors with suppliers through a tech-enabled platform, BRKZ provides access to thousands of SKUs, competitive pricing, and tailored financing solutions. With a focus on efficiency and transparency, BRKZ empowers MENA’s construction sector to meet the ambitious goals. For more information please visit https://brkz.com/en 

About BECO Capital

BECO Capital is the largest non-government venture capital firm in the Gulf, managing over $500 million in AUM. Since its inception in 2012, BECO Capital has played a pivotal role in developing the regional tech ecosystem, helping it grow from its nascent stages to its current dynamism, and has been a notable investor behind many of the region’s success stories. These include Careem, the region’s ride-hailing service turned super-app, acquired by Uber for $3.1 billion, and Property Finder, the real estate marketplace that BECO exited at a $1 billion valuation in April 2024, alongside other prominent startups such as Kitopi and Fresha.

CONTACT: For further information please contact the BRKZ press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257

About BRKZ

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates




BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ, a leading B2B managed marketplace for construction materials with embedded financing, has successfully closed its Series A funding to meet the growing demand for efficient construction procurement and financing in Saudi Arabia.

Riyadh, Feb. 10, 2025 (GLOBE NEWSWIRE) — While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials.

The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing investors strongly recommitted, including BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood Investment Advisory, and Fluent Ventures.

Founded in 2023 by Ibrahim Manna, serial entrepreneur and former Managing Director at Careem, BRKZ emerged from firsthand experience with construction industry inefficiencies. “Traditional procurement in construction is highly fragmented and manual, often requiring contractors to juggle multiple suppliers, long negotiations, and delayed payments,” said Ibrahim Manna, Founder and CEO of BRKZ. “This funding will help us double down on tech development, enhance our BNPL offering aligned with construction cash flow cycles, and expand into cross-border trading.”

The BRKZ team.

Unlike traditional procurement methods, BRKZ’s platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform’s built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry.

The platform’s rapid adoption validates its approach. Since launching its Series A1, BRKZ has grown revenue fourfold during 2024, now serving more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea. The company has expanded its delivery network to over 40 cities across Saudi Arabia, with offices in three major regions, while processing $350m (SAR 1.3 billion) in RFQs through its platform.

BRKZ marketplace and app.

Real-world applications demonstrate the platform’s transformative impact. A contractor working in KSA’s central region, awarded a project in the Western Region, used BRKZ to price and procure materials from local suppliers despite having no team in the project location. Similarly, a local cement block factory broke traditional geographical constraints by listing on BRKZ, expanding its customer base while sourcing raw materials through the platform.

AbdulRauf H. Al-Matar, AGM at AlRashed Building Materials commented: “Partnering with BRKZ has revolutionized how we connect with contractors and streamline our operations. Their innovative approach to digitizing the construction industry is setting a new standard for efficiency and growth.”

Tamer Salah, CEO at AlMimar AlAraby for General Contracting added: “Working with BRKZ has been a game-changer for us. Their focus on understanding contractors’ needs and delivering tailored solutions has made it easier to meet tight deadlines and exceed customer expectations. BRKZ’s highly advanced technology provides the best e-commerce platform, which makes it easy to manage my orders and get automated updates on their status.”

The construction market in MENA represents a massive opportunity, driven by mega-projects reshaping the region. Major developments like Neom, The Red Sea Project, King Salman Park, and upcoming events like Expo 2030 and FIFA World Cup in Saudi Arabia underscore the urgent need for innovative, tech-driven solutions to streamline procurement and enhance efficiency.

Dany Farha, co-founder and managing partner at BECO Capital, commented: “The construction industry is foundational to the Kingdom’s Vision 2030, and is ripe for technology and organizational optimization. The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitized procurement platform and address customer cash flow challenges. Having known Ibrahim and the team for years, we’ve seen firsthand their agility, prudence, and unique skill set that enable them to fulfill their promise of digitizing this industry.”

Looking ahead, BRKZ plans to establish offices in Saudi Arabia’s Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

Ends 

Media images can be found here.

About BRKZ

BRKZ is a B2B managed marketplace transforming construction procurement in Saudi Arabia. By connecting contractors with suppliers through a tech-enabled platform, BRKZ provides access to thousands of SKUs, competitive pricing, and tailored financing solutions. With a focus on efficiency and transparency, BRKZ empowers MENA’s construction sector to meet the ambitious goals. For more information please visit https://brkz.com/en 

About BECO Capital

BECO Capital is the largest non-government venture capital firm in the Gulf, managing over $500 million in AUM. Since its inception in 2012, BECO Capital has played a pivotal role in developing the regional tech ecosystem, helping it grow from its nascent stages to its current dynamism, and has been a notable investor behind many of the region’s success stories. These include Careem, the region’s ride-hailing service turned super-app, acquired by Uber for $3.1 billion, and Property Finder, the real estate marketplace that BECO exited at a $1 billion valuation in April 2024, alongside other prominent startups such as Kitopi and Fresha.

CONTACT: For further information please contact the BRKZ press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257

About BRKZ

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates




BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

BRKZ, a leading B2B managed marketplace for construction materials with embedded financing, has successfully closed its Series A funding to meet the growing demand for efficient construction procurement and financing in Saudi Arabia.

Riyadh, Feb. 10, 2025 (GLOBE NEWSWIRE) — While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials.

The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing investors strongly recommitted, including BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood Investment Advisory, and Fluent Ventures.

Founded in 2023 by Ibrahim Manna, serial entrepreneur and former Managing Director at Careem, BRKZ emerged from firsthand experience with construction industry inefficiencies. “Traditional procurement in construction is highly fragmented and manual, often requiring contractors to juggle multiple suppliers, long negotiations, and delayed payments,” said Ibrahim Manna, Founder and CEO of BRKZ. “This funding will help us double down on tech development, enhance our BNPL offering aligned with construction cash flow cycles, and expand into cross-border trading.”

The BRKZ team.

Unlike traditional procurement methods, BRKZ’s platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform’s built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry.

The platform’s rapid adoption validates its approach. Since launching its Series A1, BRKZ has grown revenue fourfold during 2024, now serving more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea. The company has expanded its delivery network to over 40 cities across Saudi Arabia, with offices in three major regions, while processing $350m (SAR 1.3 billion) in RFQs through its platform.

BRKZ marketplace and app.

Real-world applications demonstrate the platform’s transformative impact. A contractor working in KSA’s central region, awarded a project in the Western Region, used BRKZ to price and procure materials from local suppliers despite having no team in the project location. Similarly, a local cement block factory broke traditional geographical constraints by listing on BRKZ, expanding its customer base while sourcing raw materials through the platform.

AbdulRauf H. Al-Matar, AGM at AlRashed Building Materials commented: “Partnering with BRKZ has revolutionized how we connect with contractors and streamline our operations. Their innovative approach to digitizing the construction industry is setting a new standard for efficiency and growth.”

Tamer Salah, CEO at AlMimar AlAraby for General Contracting added: “Working with BRKZ has been a game-changer for us. Their focus on understanding contractors’ needs and delivering tailored solutions has made it easier to meet tight deadlines and exceed customer expectations. BRKZ’s highly advanced technology provides the best e-commerce platform, which makes it easy to manage my orders and get automated updates on their status.”

The construction market in MENA represents a massive opportunity, driven by mega-projects reshaping the region. Major developments like Neom, The Red Sea Project, King Salman Park, and upcoming events like Expo 2030 and FIFA World Cup in Saudi Arabia underscore the urgent need for innovative, tech-driven solutions to streamline procurement and enhance efficiency.

Dany Farha, co-founder and managing partner at BECO Capital, commented: “The construction industry is foundational to the Kingdom’s Vision 2030, and is ripe for technology and organizational optimization. The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitized procurement platform and address customer cash flow challenges. Having known Ibrahim and the team for years, we’ve seen firsthand their agility, prudence, and unique skill set that enable them to fulfill their promise of digitizing this industry.”

Looking ahead, BRKZ plans to establish offices in Saudi Arabia’s Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

Ends 

Media images can be found here.

About BRKZ

BRKZ is a B2B managed marketplace transforming construction procurement in Saudi Arabia. By connecting contractors with suppliers through a tech-enabled platform, BRKZ provides access to thousands of SKUs, competitive pricing, and tailored financing solutions. With a focus on efficiency and transparency, BRKZ empowers MENA’s construction sector to meet the ambitious goals. For more information please visit https://brkz.com/en 

About BECO Capital

BECO Capital is the largest non-government venture capital firm in the Gulf, managing over $500 million in AUM. Since its inception in 2012, BECO Capital has played a pivotal role in developing the regional tech ecosystem, helping it grow from its nascent stages to its current dynamism, and has been a notable investor behind many of the region’s success stories. These include Careem, the region’s ride-hailing service turned super-app, acquired by Uber for $3.1 billion, and Property Finder, the real estate marketplace that BECO exited at a $1 billion valuation in April 2024, alongside other prominent startups such as Kitopi and Fresha.

CONTACT: For further information please contact the BRKZ press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257

About BRKZ

Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population

Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population




Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population

Digital visa platform acquires UK-based Artionis and launches predictive visa approval technology to tackle global travel inequality

London, Feb. 06, 2025 (GLOBE NEWSWIRE) — For millions of travellers, planning a trip abroad means facing uncertainty and anxiety as they jump through hoops trying to satisfy complex visa requirements. In order to tackle this kind of travel inequality, Atlys has today announced its expansion into the UK market. The digital visa platform’s UK expansion follows a fresh $20 million funding round from marquee global investors. 

As part of its UK expansion, Atlys has acquired Artionis, a UK-based visa services company, bringing aboard 40 specialists across offices in London, Manchester, and Edinburgh. It plans to double headcount to 80 employees in the UK this year. The acquisition strengthens Atlys’ expertise in specialised visa routes, that will cater to 36% of the UK population made up of non-UK passport holders as well as those who prefer a DIY approach to visa applications.

Atlys founder and CEO: Mohak Nahta.

“Expanding to the UK represents more than just market growth – it’s about creating a more equitable travel ecosystem,” said Mohak Nahta, Founder and CEO of Atlys. “Our platform is designed to make international travel accessible to everyone, regardless of their passport strength, and the UK’s strategic position will help us extend this impact across Europe.”

The Atlys digital visa application experience.

Since its inception in 2021, Atlys has processed over two million visas for people, transforming a traditionally complex process through intelligent automation. The platform’s unique predictive engine provides exact visa approval timelines and backs this certainty with refund guarantees for rejected or delayed applications. Users can complete applications in under five minutes and upload documents once to become visa-ready for more than 100 countries, eliminating redundant paperwork. Within six months of its launch, Atlys rapidly became the largest visa processor in India – capturing a lion’s share of the market. Building on that momentum, Atlys launched its services in the UAE last year and has quickly established a strong foothold in the country where 90%  of the population is made up of expatriates, creating a pressing demand for a streamlined visa solution.

Atlys offers transparency on your visa application process.

Atlys’s impact can be seen in the stories of users like George, who booked a flight to Dubai to visit his ailing mother and only realized at the airport that his UAE visa had expired. With Atlys’s assistance, he secured a new visa in just 30 minutes – just in time to board his plane. Another case highlighting Atlys’s effectiveness is Muhammad, a businessman from Hyderabad who initially had his European visa application denied. Atlys guided him through the process, recommended the most suitable embassy, and helped craft a strong application that showcased his ties to India, ultimately leading to an approval.

The platform’s origin story reflects its mission. The idea for Atlys was born when Mohak Nahta, while working at Pinterest, faced a stark contrast in travel preparation compared to his American colleagues. As the only Indian team member planning a five-country work trip, Nahta had to secure multiple visas, each requiring him to submit the same documents over and over again. This frustration led him to envision a platform where travellers could upload documents once and instantly become visa-ready for multiple countries. What started as a side project quickly gained traction among friends, with word-of-mouth driving rapid adoption. 

The founder’s belief in the solution led to unconventional growth tactics. He began visiting San Francisco’s international airport wearing a T-shirt emblazoned with the words “Got Questions on Turkey e-Visa?”, helping confused travellers navigate recent rule changes – until security eventually banned him from the premises. This grassroots approach and clear market need convinced Nahta to leave Pinterest and pursue Atlys full-time.

“Since our initial investment, Atlys has demonstrated exceptional growth, processing over two million visas while maintaining strong user satisfaction,” said Shraeyansh Thakur, Principal at Peak XV. “Their data-driven approach and focus on user experience set them apart. The UK expansion represents a significant step toward becoming the definitive platform for global travel enablement.”

The expansion comes as the global travel sector shows considerable growth, with the World Travel & Tourism Council valuing the market at nearly $9 trillion in 2023 and projecting over 1.8 billion international arrivals by decade’s end. Beyond visas, Atlys is evolving into a comprehensive travel companion having added eSIMs, Forex, and travel insurance to their offering, with plans to expand into curated experiences.

Looking ahead, Atlys will leverage its new funding to drive product innovation and broader expansion, empowering even more  global travellers to explore the world with confidence – regardless of their passport strength.

Ends

Media images can be found here

About Atlys
Founded in 2021 by Mohak Nahta, Atlys simplifies visa processing and global travel. Through its intuitive platform, even first-time travellers can confidently navigate visa applications. Driven by the mission to enable every person to travel freely, Atlys is paving the way for a world where borders are no longer a barrier to exploration.

CONTACT: For further information please contact the Atlys press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257.

Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population

Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population




Atlys announces its expansion to the UK, spelling the end of visa woes for more than 36% of the population

Digital visa platform acquires UK-based Artionis and launches predictive visa approval technology to tackle global travel inequality

London, Feb. 06, 2025 (GLOBE NEWSWIRE) — For millions of travellers, planning a trip abroad means facing uncertainty and anxiety as they jump through hoops trying to satisfy complex visa requirements. In order to tackle this kind of travel inequality, Atlys has today announced its expansion into the UK market. The digital visa platform’s UK expansion follows a fresh $20 million funding round from marquee global investors. 

As part of its UK expansion, Atlys has acquired Artionis, a UK-based visa services company, bringing aboard 40 specialists across offices in London, Manchester, and Edinburgh. It plans to double headcount to 80 employees in the UK this year. The acquisition strengthens Atlys’ expertise in specialised visa routes, that will cater to 36% of the UK population made up of non-UK passport holders as well as those who prefer a DIY approach to visa applications.

Atlys founder and CEO: Mohak Nahta.

“Expanding to the UK represents more than just market growth – it’s about creating a more equitable travel ecosystem,” said Mohak Nahta, Founder and CEO of Atlys. “Our platform is designed to make international travel accessible to everyone, regardless of their passport strength, and the UK’s strategic position will help us extend this impact across Europe.”

The Atlys digital visa application experience.

Since its inception in 2021, Atlys has processed over two million visas for people, transforming a traditionally complex process through intelligent automation. The platform’s unique predictive engine provides exact visa approval timelines and backs this certainty with refund guarantees for rejected or delayed applications. Users can complete applications in under five minutes and upload documents once to become visa-ready for more than 100 countries, eliminating redundant paperwork. Within six months of its launch, Atlys rapidly became the largest visa processor in India – capturing a lion’s share of the market. Building on that momentum, Atlys launched its services in the UAE last year and has quickly established a strong foothold in the country where 90%  of the population is made up of expatriates, creating a pressing demand for a streamlined visa solution.

Atlys offers transparency on your visa application process.

Atlys’s impact can be seen in the stories of users like George, who booked a flight to Dubai to visit his ailing mother and only realized at the airport that his UAE visa had expired. With Atlys’s assistance, he secured a new visa in just 30 minutes – just in time to board his plane. Another case highlighting Atlys’s effectiveness is Muhammad, a businessman from Hyderabad who initially had his European visa application denied. Atlys guided him through the process, recommended the most suitable embassy, and helped craft a strong application that showcased his ties to India, ultimately leading to an approval.

The platform’s origin story reflects its mission. The idea for Atlys was born when Mohak Nahta, while working at Pinterest, faced a stark contrast in travel preparation compared to his American colleagues. As the only Indian team member planning a five-country work trip, Nahta had to secure multiple visas, each requiring him to submit the same documents over and over again. This frustration led him to envision a platform where travellers could upload documents once and instantly become visa-ready for multiple countries. What started as a side project quickly gained traction among friends, with word-of-mouth driving rapid adoption. 

The founder’s belief in the solution led to unconventional growth tactics. He began visiting San Francisco’s international airport wearing a T-shirt emblazoned with the words “Got Questions on Turkey e-Visa?”, helping confused travellers navigate recent rule changes – until security eventually banned him from the premises. This grassroots approach and clear market need convinced Nahta to leave Pinterest and pursue Atlys full-time.

“Since our initial investment, Atlys has demonstrated exceptional growth, processing over two million visas while maintaining strong user satisfaction,” said Shraeyansh Thakur, Principal at Peak XV. “Their data-driven approach and focus on user experience set them apart. The UK expansion represents a significant step toward becoming the definitive platform for global travel enablement.”

The expansion comes as the global travel sector shows considerable growth, with the World Travel & Tourism Council valuing the market at nearly $9 trillion in 2023 and projecting over 1.8 billion international arrivals by decade’s end. Beyond visas, Atlys is evolving into a comprehensive travel companion having added eSIMs, Forex, and travel insurance to their offering, with plans to expand into curated experiences.

Looking ahead, Atlys will leverage its new funding to drive product innovation and broader expansion, empowering even more  global travellers to explore the world with confidence – regardless of their passport strength.

Ends

Media images can be found here

About Atlys
Founded in 2021 by Mohak Nahta, Atlys simplifies visa processing and global travel. Through its intuitive platform, even first-time travellers can confidently navigate visa applications. Driven by the mission to enable every person to travel freely, Atlys is paving the way for a world where borders are no longer a barrier to exploration.

CONTACT: For further information please contact the Atlys press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257.

Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia

Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia




Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia

pH7 Technologies

VANCOUVER, British Columbia, Feb. 04, 2025 (GLOBE NEWSWIRE) — Through the BC Fast Pilot program, Innovate BC and the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) are investing a combined total of $1.5M in funding across twelve B.C.-based companies to pilot innovation projects. Projects areas include wildfire management, critical minerals, water treatment, artificial intelligence and data analytics in applications to clean technology and agriculture, and more. The funding will support pilot testing for new technologies.

“Through BC Fast, local companies have the opportunity to show what they are capable of by creating new technology solutions to the challenges we’re facing in public health, resource management and so much more,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. “I look forward to watching these companies grow by selling to local and diversified international markets, and increase global awareness of the talent and business opportunities available in the B.C. tech ecosystem and our rapidly expanding knowledge economy.”

The BC Fast Pilot program helps regional small-medium sized enterprises design, build, and operate a pilot plant or small demonstration of their technology in real-world conditions. This allows B.C. technology companies to demonstrate the impact of their product, measure the value of their solution, and encourage customer adoption, with the goal of scaling their solutions while strengthening key industries, solving local and global challenges, and driving prosperity for British Columbians.

“Innovation transforms industries and helps them remain competitive in global markets, and through the BC Fast Pilot program, we’re supporting the growth of B.C. companies creating new solutions that aim to do just that,” said Peter Cowan, President + CEO of Innovate BC. “This year’s recipients, which are addressing critical areas such as emission reduction, wildfire management, and health sciences, emphasize the immense value in advancing entrepreneurship and the impact of innovation in creating a more prosperous, future-ready British Columbia. We’re proud to deliver this initiative in partnership with NRC IRAP, strengthening the region’s innovation economy and cementing B.C.’s reputation as a global leader in technology.”

Projects funded through this round of BC Fast Pilot are working to provide innovative solutions in support of high-impact sectors such as sustainability, resource management and public health, emphasizing pilot testing to validate effectiveness and scalability. One of this year’s recipients, FireSwarm Solutions, is working to enhance wildfire detection and management through advanced drone technology and is being piloted in Squamish. joni, piloting their project in both Victoria and Richmond, are addressing menstrual care accessibility in public spaces with an IOT-enabled technology.

This is the sixth round of funding through the BC Fast Pilot program, which was launched in 2019. Since the program’s inception, and including this year’s awardees, $11.4M has been invested into 87 B.C. pilot demonstrations.

“Through the BC Fast Pilot program and our partnership with Innovate BC, we are supporting Canadian innovators in bringing their ideas to life,” says Mitch Davies, President, National Research Council of Canada. “By enabling companies to demonstrate their technologies in practical applications, we are helping them gather valuable market insight. This in turn brings them closer to customer adoption, and to providing innovative cleantech solutions to address current challenges.”

Previous program participants include Open Ocean Robotics, which, since receiving funding in 2019/20, has partnered with the Royal Canadian Navy on marine innovation, expanded to Canada’s east coast, secured $800,000 from PacifiCan’s Business Scale-up and Productivity program, and landed major contracts with the National Oceanic and Atmospheric Administration (NOAA). Similarly, pH7 Technologies, a 2022/23 participant, secured $1.5M from PacifiCan, raised $16M USD in a Series A round, and was recognized as one of the Global Cleantech 100 companies in 2024 and 2025.

This funding prioritizes regional projects, with a focus on cleantech and projects that involve physical installations and are capital intensive in nature, and those that involve Indigenous communities or organizations.

To view and download digital assets relating to this announcement, please click here.

Media Contact

Michael Gleboff
Communications + Community Manager
mgleboff@innovatebc.ca 
604-602-5210

About Innovate BC

A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.

Learn More

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb5a1d30-493a-444a-aa44-ce1dd59987cf

Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia

Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia




Innovate BC and NRC IRAP Invest $1.5M to Support 12 Cleantech Innovation Pilot Projects in British Columbia

pH7 Technologies

VANCOUVER, British Columbia, Feb. 04, 2025 (GLOBE NEWSWIRE) — Through the BC Fast Pilot program, Innovate BC and the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) are investing a combined total of $1.5M in funding across twelve B.C.-based companies to pilot innovation projects. Projects areas include wildfire management, critical minerals, water treatment, artificial intelligence and data analytics in applications to clean technology and agriculture, and more. The funding will support pilot testing for new technologies.

“Through BC Fast, local companies have the opportunity to show what they are capable of by creating new technology solutions to the challenges we’re facing in public health, resource management and so much more,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. “I look forward to watching these companies grow by selling to local and diversified international markets, and increase global awareness of the talent and business opportunities available in the B.C. tech ecosystem and our rapidly expanding knowledge economy.”

The BC Fast Pilot program helps regional small-medium sized enterprises design, build, and operate a pilot plant or small demonstration of their technology in real-world conditions. This allows B.C. technology companies to demonstrate the impact of their product, measure the value of their solution, and encourage customer adoption, with the goal of scaling their solutions while strengthening key industries, solving local and global challenges, and driving prosperity for British Columbians.

“Innovation transforms industries and helps them remain competitive in global markets, and through the BC Fast Pilot program, we’re supporting the growth of B.C. companies creating new solutions that aim to do just that,” said Peter Cowan, President + CEO of Innovate BC. “This year’s recipients, which are addressing critical areas such as emission reduction, wildfire management, and health sciences, emphasize the immense value in advancing entrepreneurship and the impact of innovation in creating a more prosperous, future-ready British Columbia. We’re proud to deliver this initiative in partnership with NRC IRAP, strengthening the region’s innovation economy and cementing B.C.’s reputation as a global leader in technology.”

Projects funded through this round of BC Fast Pilot are working to provide innovative solutions in support of high-impact sectors such as sustainability, resource management and public health, emphasizing pilot testing to validate effectiveness and scalability. One of this year’s recipients, FireSwarm Solutions, is working to enhance wildfire detection and management through advanced drone technology and is being piloted in Squamish. joni, piloting their project in both Victoria and Richmond, are addressing menstrual care accessibility in public spaces with an IOT-enabled technology.

This is the sixth round of funding through the BC Fast Pilot program, which was launched in 2019. Since the program’s inception, and including this year’s awardees, $11.4M has been invested into 87 B.C. pilot demonstrations.

“Through the BC Fast Pilot program and our partnership with Innovate BC, we are supporting Canadian innovators in bringing their ideas to life,” says Mitch Davies, President, National Research Council of Canada. “By enabling companies to demonstrate their technologies in practical applications, we are helping them gather valuable market insight. This in turn brings them closer to customer adoption, and to providing innovative cleantech solutions to address current challenges.”

Previous program participants include Open Ocean Robotics, which, since receiving funding in 2019/20, has partnered with the Royal Canadian Navy on marine innovation, expanded to Canada’s east coast, secured $800,000 from PacifiCan’s Business Scale-up and Productivity program, and landed major contracts with the National Oceanic and Atmospheric Administration (NOAA). Similarly, pH7 Technologies, a 2022/23 participant, secured $1.5M from PacifiCan, raised $16M USD in a Series A round, and was recognized as one of the Global Cleantech 100 companies in 2024 and 2025.

This funding prioritizes regional projects, with a focus on cleantech and projects that involve physical installations and are capital intensive in nature, and those that involve Indigenous communities or organizations.

To view and download digital assets relating to this announcement, please click here.

Media Contact

Michael Gleboff
Communications + Community Manager
mgleboff@innovatebc.ca 
604-602-5210

About Innovate BC

A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.

Learn More

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb5a1d30-493a-444a-aa44-ce1dd59987cf

SuperOps raises $25M in Series C and enters the IT market with game-changing AI-powered Endpoint Management tool

SuperOps raises $25M in Series C and enters the IT market with game-changing AI-powered Endpoint Management tool




SuperOps raises $25M in Series C and enters the IT market with game-changing AI-powered Endpoint Management tool

SuperOps also introduces Monica, a hyper-contextual AI super agent that empowers smarter, faster business decision-making. The latest funding round, led by March Capital, will fuel AI innovation, global expansion, and mid-market growth.

Dallas, Jan. 30, 2025 (GLOBE NEWSWIRE) — SuperOps, the groundbreaking AI-driven IT platform transforming operations for IT service providers and internal IT teams, today announced it has raised $25 million in Series C funding, led by March Capital with participation from existing investors Addition and Z47. This brings SuperOps’ total funding to $54.4 million, a testament to the company’s exceptional growth and market disruption. Over the past year, SuperOps has tripled its customers and expanded its footprint to 104 countries, cementing its status as a global leader.

SuperOps is now taking its proven expertise in Managed Service Provider (MSP) technology into the broader IT market with the launch of its revolutionary Endpoint Management tool. Designed to supercharge IT team productivity, the tool enables IT teams to achieve more with fewer resources.

SuperOps founders: Arvind Parthiban and Jayakumar Karumbasalam.

“IT teams worldwide are navigating complex challenges, including remote work and rising cybersecurity threats,” said Arvind Parthiban, Co-Founder and CEO of SuperOps. “At SuperOps, we are empowering these IT heroes with tools that transform their operations, reduce costs, and fuel growth. After revolutionizing the MSP space, we are thrilled to bring our AI expertise to internal IT teams with the launch of our Endpoint Management tool. The high demand and early successes validate that this is the future of IT operations.”

Over the last four years, SuperOps has become a trusted partner for MSPs worldwide, helping thousands of such service providers optimize operations through its unified AI-powered platform. Now, internal IT teams—already comprising 20% of SuperOps’ customer base—stand to benefit from the same transformative technology.

SuperOps provide full asset oversight across user IT services.

The foundation of SuperOps’ success lies in its relentless focus on AI innovation. In 2024, the company unveiled Monica, a hyper-contextual AI guide that analyzes the MSP’s dataset to deliver personalized insights, automate routine workflows, and accelerate decision-making. With Monica, MSPs and IT teams have seen up to a 30% improvement in operational efficiency.

SuperOps plans to use the new funding to expand its AI research and development, scale its offerings for mid-market and enterprise MSPs, and further extend its global reach. With IT spending projected to hit $5.74 trillion in 2025 (Gartner), the stakes have never been higher.

“The SuperOps team has proven their capability to disrupt the MSP technology market. With rapid product advancements and significant growth in global markets, SuperOps has become a major player. We are excited to support the expansion of their AI platform and scaling of their offerings to larger MSPs and internal IT teams,” said Ravi Rajamony, Vice President at March Capital.

The Series C round, entirely backed by existing investors, highlights the continued confidence in SuperOps’ vision and execution.

“SuperOps has disrupted the stagnant MSP tools space, creating real value for MSPs through true innovation, and its entry into IT Endpoint Management promises to have similar impact. We are excited to continue to support the SuperOps team on their mission to empower IT service providers to scale, streamline operations and thrive in an increasingly competitive market,” said Todd Arfman at Addition.

Tarun Davda, Managing Director at Z47 added: “We are delighted to be part of SuperOps’ impressive growth. The platform has improved the businesses of MSPs worldwide. I am impressed by the team’s customer-centric approach to innovation, and their AI advancements. I am confident that SuperOps will continue to outpace the competition and create significant value for IT service providers”. 

Ends

Media images can be found here

About SuperOps
SuperOps is an AI SaaS company offering a unified PSA-RMM platform for future-focused MSPs and IT teams. The company was founded in 2020 by serial entrepreneur Arvind Parthiban and Jayakumar Karumbasalam. With a deep commitment to innovation and a focus on customer success, SuperOps equips MSPs with the tools they need to streamline operations, enhance service delivery, and scale their businesses. SuperOps is backed by marquee investors, March Capital, Addition, Z47, Elevation Capital, and Tanglin Venture Partners.

About March Capital
March Capital is a top-tier venture growth firm headquartered in Santa Monica, California and has been investing globally since 2014. March is committed to partnering with exceptional entrepreneurs to build great technology companies and to scale them globally. With $1.65B+ in capital over 4 funds and across 25+ market-leading technology companies, March accelerates the digital transformation of enterprise applications, cloud & data infrastructure, vertical software, and scientific discovery. Our vision is to create a best-in-class technology investment platform by combining intense sector focus, patience, access to a global leadership network (including founding The Montgomery Summit), and high-impact portfolio engagement to inspire and to accelerate extraordinary AI-native companies like CrowdStrike, Essential AI, Forter, Generate:Biomedicines, Nile, and Uniphore. For more information, please visit www.marchcp.com.

About Z47
Z47 is a “founders-first” venture capital firm with an AUM of $3.5 billion, spanning over 100 investments since 2006. Our commitment is to founders who are determined to lead India to its destiny as a developed nation by 2047. We partner with early-stage startups, offering founders a unique blend of expertise, experience, and empathy. Our investment focus includes FinTech & Services, Consumer Brands & Tech, B2B Commerce & Manufacturing, and Enterprise SaaS & AI. Z47’s Enterprise SaaS & AI portfolio includes companies like Krutrim, Neysa Networks, MoEngage, Atomicwork, and more. We take pride in being a trusted partner to pioneering founders of industry-leading companies such as Ola, Ola Electric, Razorpay, Dailyhunt, Five Star Business Finance, Country Delight, and Of Business, among others. Z47 has offices in Mumbai, Delhi and Bangalore. For more information, visit www.z47.com or write to newsroom@z47.com.

CONTACT: For further information please contact the SuperOps press office: Radhika Nair on radhika.nair@superops.com and Pritica Nalan on  pritica.n@superops.com or Bilal Mahmood on b.mahmood@stockwoodstrategy.com and +44 (0) 771 400 7257.

Oxyle raises $16m to lead the fight against the “forever chemicals” contaminating our water

Oxyle raises $16m to lead the fight against the “forever chemicals” contaminating our water




Oxyle raises $16m to lead the fight against the “forever chemicals” contaminating our water

Revolutionary water treatment technology achieves 99% destruction of PFAS, transforming how industries tackle toxic water pollution

Zurich, Jan. 30, 2025 (GLOBE NEWSWIRE) — When Fajer Mushtaq turned on the tap as a child in Delhi, one question always loomed: was the water safe? Today, that same question haunts communities worldwide as PFAS — toxic “forever chemicals” used in everything from non-stick pans to firefighting foam — contaminate water supplies at an alarming rate. Today, Swiss startup Oxyle announced a $16m funding round to scale its breakthrough solution to destroy, not just relocate, PFAS from wastewater. This builds on its $3M pre-seed round in 2022, growing support for its mission. 

The seed round was led by 360 Capital, with participation from Axeleo Capital and returning investors Founderful and SOSV. 

Oxyle founders: Dr. Silvan Staufert and Dr. Fajer Musthaq (CREDIT: Daniel Kunz, daniekunzphoto, Adliswil, Switzerland)

Industries have long struggled with PFAS treatment. Current methods like filtration and adsorption merely move PFAS from water to other waste streams, requiring expensive incineration or landfilling that risks these chemicals leaching back into the environment through air or soil – creating an endless cycle of contamination. While some technologies can destroy PFAS, their massive energy requirements make them financially impractical for most organizations to implement at scale.

Oxyle’s breakthrough technology represents the world’s first economical and permanent solution to PFAS contamination. Unlike traditional methods that merely filter or concentrate these chemicals, Oxyle’s system destroys PFAS molecules, achieving over 99% elimination rates while consuming at least 15 times less energy than alternative destruction methods. The system’s three-stage process combines foam fractionation, catalytic destruction, and real-time monitoring powered by machine learning – all housed in a modular system that eliminates the need for secondary waste disposal through incineration or landfilling. Whereas traditional solutions require weeks-long lab analysis, Oxyle’s proprietary monitoring system provides instant feedback and continuous treatment optimization.

Oxyle pilot unit on a customer site (CREDIT: Oxyle). 

“Five years ago, Oxyle was two of us founders and one big idea: get rid of forever chemicals from our water. Today, that idea is proven, implemented, and ready to scale. This funding is a game-changer. It gives us what we need to take our technology to the industries and communities that need it most. To our investors, old and new, thank you for joining us on this mission to make clean water a reality for all.” commented Dr. Fajer Mushtaq, CEO & Co-Founder, Oxyle.

The company was co-founded by Fajer Mushtaq and Silvan Staufert at ETH Zurich, where Mushtaq earned her PhD in Micro- and Nanosystems focused on water remediation – inspired by her experiences with water scarcity in Delhi – while Staufert completed his PhD in Mechanical and Process Engineering. Understanding that water treatment innovations couldn’t come soon enough, they developed a technology to degrade Forever Chemicals in minutes. They knew their breakthrough could change the world, but only if it moved from lab to reality.

Oxyle Team (CREDIT Daniel Kunz, daniekunzphoto, Adliswil, Switzerland).

In just four years, the duo have transformed Oxyle from innovation to implementation. The company has grown to a team of 26, completed over 20 customer projects, and secured prestigious recognition including the Swiss Technology Award, SEIF, and WEF’s Uplink Top Innovators. This round brings Oxyle’s total funding to $26m, including additional non-dilutive funding from grants and awards. With revenue-generating customer pilots under its belt and its first commercial installation operational, Oxyle is now securing multiple-year treatment contracts for 2025 and beyond.

The technology’s effectiveness has been proven across multiple applications. In groundwater treatment, it reduces PFAS concentrations from 8,700 ng/l to below 14 ng/l. For soil wash water, it achieves 99.8% removal of 11 different PFAS species. It eliminated 98% of short-chain PFAS and reduced trifluoracetic acid (TFA) concentrations by 96% in trials with an industrial customer. Most significantly, in November 2024, Oxyle deployed its first full-scale system in Switzerland, treating 10 cubic meters of contaminated groundwater per hour at less than 1 kWh/m³.

“We are proud to lead the investment in Oxyle, whose pioneering technology addresses the massive global challenge of PFAS pollution,” says Thomas Nivard, Partner at 360 Capital. “Unlike traditional methods that merely contain these harmful chemicals, Oxyle’s solution destroys them permanently, setting a new standard for tackling this urgent environmental crisis. This is a game changer. The team’s exceptional commercial and technical momentum has laid a strong foundation for establishing a true technology leader in the coming years.”

The timing for Oxyle’s solution is critical. Rising waves of PFAS-related lawsuits and multi-billion-dollar settlements in the U.S. are pushing companies to adopt preventative solutions. Stricter regulations in both the EU and U.S. are increasing demand for advanced treatment technologies that can ensure compliance and minimize liability. New data from the Forever Lobbying Project shows the cost of inaction is staggering—cleaning up Europe’s soil and water from PFAS contamination could cost €100 billion per year, totaling €2 trillion over the next 20 years.

Looking ahead, Oxyle aims to treat 100 million cubic meters of contaminated water in the next five years. The company plans to expand its solution across industries, from chemical and consumer goods manufacturing to semiconductor production and municipal water treatment – ultimately restoring and protecting our waters from Forever Chemicals, down to the very last drop.

Ends 

Notes to the editor
Media images can be found here.

About Oxyle
Oxyle is the world’s first economical, sustainable, and permanent answer to PFAS contamination. Our breakthrough PFAS catalytic destruction technology empowers industrial and environmental remediation companies in their fight against PFAS. We don’t just filter or adsorb PFAS, we eliminate it entirely to below detection limits. With 15x lower average energy consumption than other destructive treatments, it is the most energy efficient, cost effective treatment on the market. Established in 2020, we’re on a mission to protect our water from PFAS – down to the last drop.

About 360 Capital
360 Capital is a leading European venture capital firm specializing in early-stage investments across Deep Tech, Climate Tech, and Digital-First solutions. Since 1997, it has partnered with visionary entrepreneurs across Europe, supporting over 160 startups. With €500 million in assets under management, a portfolio of more than 60 active companies, and offices in Paris and Milan, 360 Capital is a prominent force in Europe’s venture ecosystem

Founderful
Founderful is Switzerland’s leading pre-seed fund, backing founder teams building tech companies with the potential to become global market leaders. Founderful has a track record of supporting exceptional founders in creating breakthrough companies and has the passionate conviction that the Swiss startup ecosystem is just starting to write its best success stories.

SOSV

SOSV is a multi-stage, deep tech venture investor committed  to “human and planetary health,” and invests beginning at a startup’s inception, the “First Check in Deep Tech®.”  Headquartered in Princeton, NJ, SOSV operates the deeply resourced startup development programs in New York City and San Francisco (IndieBio) and Newark, NJ (HAX) equipped with labs for bio-safety, chem, food, EE, analytics and mechatronics.  The SOSV ecosystem spans the globe, with 800+ startups operating in 40 countries.

Axeleo Capital 

Axeleo Capital (AXC) is an Emerging independent early-stage VC, trusted and backed by seasoned entrepreneurs and industry experts across Europe, focusing on B2B software and Greentech startups. With €300 million in assets under management, 4 successful fund raises so far and 13 employees, the firm has made over 70 investments across the EU, and has achieved 18 successful exits within the past 36 months. AXC provides a unique framework for European early-stage startups. It offers a comprehensive range of support, including equity investments from seed to Series B stages, operational guidance and strategic assistance. The firm boasts an active ecosystem of more than 150 high-level partners, sector experts and mentors who have been instrumental in numerous success stories across Europe and the US. Axeleo Greentech Industry I aims to foster green innovation and sustainable development in Europe, with a focus on energy, chemicals, agriculture, and mobility sectors

CONTACT: For further information please contact the Oxyle press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257.