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PR Newswire

Osome Raises a $16M Series A to Expand its AI-based Accounting Platform to Global Markets

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SINGAPORE, June 18, 2021 — Osome, a super-app that digitizes accounting and compliance services for SMEs, has raised $16M in a Series A funding from a group of investors including Target Global, AltaIR Capital, Phystech Ventures, S16VC, and Peng T. Ong, an angel investor. The capital enables Osome to expand its footprint internationally, as well as to fuel product integrations. 

"Back-office operations are annoying, tedious yet mission critical for businesses, especially for SMEs. Remarkably, an average entrepreneur spends 68% of their time to deal with routine tasks vs 32% to strategize and deliver on their long term goals. Osome combines artificial intelligence software with operational excellence to automate administrative, accounting, payroll and tax-related work and help entrepreneurs focus on what they can do the best – growing their business", Victor Lysenko, co-founder and CEO of Osome, says. "We strive to build a future where small business owners can fully rely on the technology in their administrative routine".

The demand for Osome services has accelerated with COVID-19 as clients recognized the importance of automation. This has led to more than 100% YoY revenue growth and $9.5M ARR with over 6,000 happy customers in Hong Kong, Singapore, and the UK. Additionally, the company has identified a product / market fit in the fast-growing e-commerce segment and will double down on it in the next 18 months. 

Osome’s core offering is online accounting services for SMEs, especially those involved in e-commerce — аccountants take over the documents and convert them into actionable numbers, tax filings and reports, making accounting and bookkeeping service for online sellers as simple as ever.

The company also helps with business set up and provides corporate secretary services — Osome checks compliance, tracks deadlines, files documents, and answers questions in a chat at any time of the day or week. The platform categorises and stores any documents users send, so nothing is lost, and then creates and files reports on time. 

"We have supported Osome since the early days and are excited to continue our partnership in the latest round. We are especially happy about the strong growth Osome has shown in the expanding e-commerce segment. Online Sellers require unique tools and custom approaches to be serviced effectively and Osome’s mix of technology and human expertise is the perfect solution", says Mike Lobanov, GP & COO of Target Global.

Media Contact:

Safiah Alias
safiah@osome.com
+65-6589-8807

PR Newswire

IQM announces KQCircuits – An open-source software to design superconducting quantum processors

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ESPOO, Finland, June 17, 2021 — IQM Quantum Computers (IQM) announced today its open-source software tool KQCircuits to automate the design of superconducting quantum processors. KQCircuits Is a Python library jointly developed by Aalto University and IQM using the KLayout design program.

IQM processor example
IQM processor example

Designing quantum processors is fundamental to build quantum computers. But it is a difficult, multi-step process that takes significant time and effort. With this initiative, IQM supports the broader quantum community by open-sourcing its state-of-the-art quantum processor design platform.

KQCircuits creates a community-driven universal platform that enables quantum chip development through a simple and open framework, from chip design and simulation to fabrication. With KQCircuits, quantum engineers and physicists can conveniently generate chip designs with a simple click. They can also check the signal routing before the device fabrication process to avoid making costly errors.

"At IQM, we’ve been using KQCircuits to design and develop our state-of-the-art quantum processors. By making it available as an open-source platform, we want to make our tools available for the entire quantum community. Using KQCircuits, researchers and companies worldwide can now focus on R&D and continue to innovate faster," said Dr. Johannes Heinsoo, Team Leader at IQM.

KQCircuits generates multi-layer two-dimensional-geometries representing common structures in quantum processing units (QPUs). It includes:

  • A framework and definitions of parametrized geometrical circuit elements 
  • Templates for manually drawn or code-defined circuit elements
  • A method for assembling a QPU design from elements. 

Also, to reduce the design turnaround time and to reduce manual errors, KQC includes helpers to export: 

  • Optical mask layouts and lithography patterns
  • Project files for easy simulations with popular FEM software such as Ansyss HFSS, Ansyss Q3D, and Sonnet
  • Netlist for SPICE simulations.

"KQCircuits leverages the work at KLayout design program, which has a history of over a decade of continuous development. We’d also like to acknowledge and thank the team at the QCD Labs of Aalto University and Mr. Matthias Koefferlein, Open-Source Developer of KLayout," added Dr. Heinsoo.

" In research, we are always looking for collaboration opportunities and ways to design quantum processors that are of high quality and reproducible. We are extremely happy that our work at the QCD Labs of Aalto University is now continued by IQM. We hope to see other quantum companies and researchers utilize this tool and contribute by further developing KQCircuits," said Prof. Mikko Möttönen, Aalto University

Useful links:

About KQCircuits: www.meetiqm.com/developers/kqcircuits/

KQCircuits Documentation: https://iqm-finland.github.io/KQCircuits/

About IQM Quantum Computers:

IQM is the European leader in superconducting quantum computers, headquartered in Espoo, Finland. Since its inception in 2018, IQM has grown to 110+ employees and established a subsidiary in Munich, Germany, to lead the co-design approach.

IQM delivers on-premises quantum computers for research laboratories and supercomputing centers and provides complete access to its hardware. For industrial customers, IQM delivers quantum advantage through a unique application-specific co-design approach. IQM has raised € 71 Million from private and public funding.

IQM is building Finland’s first commercial quantum computer with VTT, and an IQM led consortium was awarded € 12.4 Million in February 2021 to commercialize application-specific quantum processors by the German Ministry of Education and Research

For more information, visit www.meetiqm.com.

Registered office:

IQM Finland Oy
Keilaranta 19
02150 Espoo
Finland
www.meetiqm.com

Media Contact:

Raghunath Koduvayur, Head of Marketing and Communications
Raghunath@meetiqm.com, +358-504-876-509

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IQM KQCircuits
IQM KQCircuits

 

IQM processor example
IQM processor example

 

 

 

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PR Newswire

Blackpoint Cyber Launches Blackpoint LogIC

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Simple, hyper-efficient compliance solution by Blackpoint adds to cybersecurity ecosystem

ELLICOTT CITY, Md., June 16, 2021 — Blackpoint Cyber, a leading technology-focused cybersecurity company, has announced the launch of their newest MDR add-on solution, Blackpoint LogIC (Logging with Integrated Compliance).

Blackpoint Cyber launches Blackpoint LogIC, a simple and hyper-efficient compliance solution
Blackpoint Cyber launches Blackpoint LogIC, a simple and hyper-efficient compliance solution

LogIC Development

Examining the increasing demand for cybersecurity compliance, Jon Murchison, CEO of Blackpoint Cyber, stated "We developed LogIC to offer MSPs and their partners a streamlined solution that eliminated the complexities of compliance without compromising security posture". For context, regulatory compliance is usually expensive and challenging to manage in the long-term even for larger, mature businesses. Due to the effort and cost of building compliance programs and teams, many are faced with the difficult decision to either put resources towards meeting compliance requirements or investing in real cybersecurity. Murchison explains, "The team here at Blackpoint spent over nine months developing a new and affordable compliance solution. We leveraged our existing nation state-grade 24/7 MDR technology to ensure that businesses can satisfy both needs with one powerful solution."

LogIC Highlights

Many requirements in security compliance frameworks require the collection of data, events, and logs. Blackpoint LogIC’s hyper-efficient logging architecture supports the real-time collection of Windows Event Logs, Windows File Integrity Monitoring (FIM), and applications supporting general system logging protocol (syslog). Collected data is tamperproof, resilient, encrypted (AES-256), and stored read-only in three different zones that meet SEC Rule 17a-4, PCI-DSS, HIPAA/HITECH, FedRAMP, EU GDPR, and FISMA specifications. Currently, LogIC supports CMMC, HIPAA, PCI-DSS, and CMMC (up to Level 3) security compliance frameworks. The company noted that more frameworks are planned for future iterations of LogIC to be expected throughout 2021 and 2022.

Blackpoint’s goal is to bring simplicity to the everyday management of logging and compliance. LogIC uses a simple, push-button setup to replace typical hardware, appliances, installs, and agent rollouts needed to implement compliance programs. Further, the launch features a new, intelligent web application allowing MSPs and their clients to configure log settings and generate compliance reporting to reduce the cumbersome reporting and assessment efforts usually involved with regulatory compliance. Based on the products and services partners have with Blackpoint, LogIC’s auto-answer capability automatically maps against hundreds of compliance requirements all at once. Finally, partners signing up for LogIC will receive 365 days of complimentary data log retention with options to request more storage by GB as needed.

Interested in streamlining your compliance and cybersecurity? Visit the Blackpoint LogIC website or sign up to see a demo of the solution here.

About Blackpoint

Blackpoint Cyber offers the only world-class, nation state-grade cybersecurity ecosystem serving the MSP community. Using its own software and SOC, Blackpoint’s True 24/7 Managed Detection and Response (MDR) service not only detects breaches earlier than any other solution on the market, but also provides an actual response rather than just an alert to keep your and your clients’ networks safe from widespread damage.

For more information, please contact:
Nicole LaDue
240.538.7598
info@blackpointcyber.com   
https://blackpointcyber.com/ 

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PR Newswire

Medidata Becomes First Company to Offer End-to-End, Unified, Secure Platform for Decentralization of Clinical Trials (DCT)

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  • The first company in the world to unify direct patient data capture technology with study oversight and monitoring, Medidata redefines end-to-end decentralization for sponsors and CROs
  • The unique Medidata Trial Dial™ concept provides the industry’s highest level of customization for clinical trial decentralization – enabling fully decentralized or hybrid studies

SINGAPORE, June 16, 2021 — Medidata, a Dassault Systèmes company, today announced the launch of the Medidata Decentralized Clinical Trials (DCT) Program, the most comprehensive set of unified, secure technologies that enable full decentralization across the clinical trial continuum. For the first time ever, drug, vaccine, and medical device developers (sponsors) and contract research organizations (CROs) can take advantage of the only platform offering on the market which combines:

  • Technology and workflows to virtualize patient participation
  • Tools that facilitate sponsor oversight of patient safety and data quality
  • Direct-to-patient services, including facilitation of delivery of study drugs to the home

The Medidata DCT Program captures participant data remotely from anywhere, at any time. It aggregates and transforms that data, monitors the data to identify quality issues to mitigate risk and ensure patient safety, and runs powerful analytics to draw new insights leading to better outcomes for patients, researchers, sites, sponsors, and CROs.

"The life science industry has seen accelerating interest and adoption of decentralized trial technology in the wake of the COVID-19 pandemic," said Anthony Costello, president, patient cloud at Medidata. "Sponsors and CROs are increasingly turning to decentralized trial models in an effort to bring increased efficiency, security, and accessibility to the clinical research process."

Through a range of capabilities on a common platform that can be individually turned "on" or "off" in various combinations using the Trial Dial™ concept, the Medidata DCT Program provides the highest level of customization of decentralizing solutions based on study protocol design. This allows study sponsors to adjust and choose everything from traditional onsite trials, to fully decentralized models, and every hybrid trial design in between.

The Medidata DCT Program revolutionizes the paradigm of sponsor study oversight by supporting sponsors and CROs to easily adopt risk-based approaches to study execution, rather than historically reactionary and inefficient on-site practices. Embedded capabilities for risk identification, monitoring, and mitigation allow for truly digital oversight, where physical and virtual interaction with sites can be optimized while maintaining patient safety and data quality. The Medidata DCT Program also allows for powerful workflows driven from patient-centric data, such as shipping investigational product directly to the patient and automated dosage adjustments.

"We are very proud to say that, as a trusted partner to the life science sector for more than 20 years, Medidata is now the only company providing a full suite of virtual capabilities to enable complete trial decentralization, encompassing both patient and site interactions," added Costello. "The DCT Program marks an important evolution in Medidata’s vision for how we can better serve patients and customers, by accelerating research and bringing novel therapies to market in record time."

To date, Medidata has applied its decentralizing technologies across more than 44,000 clinical sites around the world in multiple languages involving more than 600,000 patients with a wide array of illnesses. Nearly 350 sponsors and CROs have trusted Medidata to handle the increasing speed and volume of electronically sourced patient data generated by modern trials. The single platform minimizes the opportunity for data discrepancies and transfer lags, which can lead to security concerns and increased risk of trial disruption.

According to Gartner, a leading research and advisory company, "Life science CIOs advancing healthcare and life science digital optimization and modernization should… establish a technology strategy by prioritizing digital trial solutions that combine wearables, mobile apps, IoT and advanced data analytics. This will enable a truly patient-centric and decentralized approach to clinical research."[1]

The COVID-19 crisis emphasized the pivotal role of technology in accelerating safe clinical trial development. In fact, Medidata technology helped to bring a COVID-19 vaccine through the full clinical trial life cycle in under a year. For this effort, the vaccine developer used a suite of Medidata technologies, including Rave EDC (electronic data capture); eCOA (electronic clinical outcomes assessment), and Detect (centralized statistical monitoring)—these tools allowed study teams to course-correct before trial quality and timing were affected by potential risks.

Regulatory agencies around the world have begun embracing remote technology solutions, especially remote monitoring, electronic informed consent (eConsent), telemedicine, and direct shipment of investigational products to patients. Specifically, the United States Food & Drug Administration (FDA) is expected to issue a draft guidance regarding decentralized clinical trials this year, with special emphasis on endpoint analysis, data quality and control, and the appropriate use of eConsent. As a pioneer in decentralizing the clinical trial process, Medidata is primed to support the industry in the adoption and best use of these innovative new technologies.

Medidata is a wholly owned subsidiary of Dassault Systèmes, which with its 3DEXPERIENCE platform is positioned to lead the digital transformation of life sciences in the age of personalized medicine with the first end-to-end scientific and business platform, from research to commercialization.

[1]Gartner, Life Science CIOs: Map Your Pathway to Digital Trials, Jeff Smith, 18 August, 2020.

About Medidata

Medidata is leading the digital transformation of life sciences, creating hope for millions of patients. Medidata helps generate the evidence and insights to help pharmaceutical, biotech, medical device and diagnostics companies, and academic researchers accelerate value, minimize risk, and optimize outcomes. More than one million registered users across 1,700+ customers and partners access the world’s most-used platform for clinical development, commercial, and real-world data. Medidata, a Dassault Systèmes company (Euronext Paris: #13065, DSY.PA), is headquartered in New York City and has offices around the world to meet the needs of its customers. Discover more at www.medidata.com and follow us @Medidata.

Medidata is a registered trademark of Medidata Solutions, Inc., a wholly owned subsidiary of Dassault Systèmes.

About Dassault Systèmes

Dassault Systèmes, the 3DEXPERIENCE Company, is a catalyst for human progress. We provide business and people with collaborative 3D virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers push the boundaries of innovation, learning and production. Dassault Systèmes brings value to more than 290,000 customers of all sizes, in all industries, in more than 140 countries. For more information, visit www.3ds.com.

3DEXPERIENCE, the Compass icon, the 3DS logo, CATIA, BIOVIA, GEOVIA, SOLIDWORKS, 3DVIA, ENOVIA, NETVIBES, MEDIDATA, CENTRIC PLM, 3DEXCITE, SIMULIA, DELMIA, and IFWE are commercial trademarks or registered trademarks of Dassault Systèmes, a French "société européenne" (Versailles Commercial Register # B 322 306 440), or its subsidiaries in the United States and/or other countries.

Related Links :

http://www.medidata.com

PR Newswire

The Future of Work: WorkForce Software Launches First Integrated Employee Experience and Workforce Management Platform to Meet the Needs of the Modern Workforce

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Integrated employee experience features set a new bar for advanced workforce management solutions designed for global enterprises

LIVONIA, Mich., June 15, 2021 — WorkForce Software, the leading provider of enterprise SaaS-based workforce management solutions today announced the availability of its WorkForce Suite with a fully integrated set of employee experience (EX) capabilities designed to facilitate meaningful, in-the-moment interactions between managers and their deskless employees. Critical capabilities delivered in the newest release include two-way communications and real-time workforce data, which managers can use to engage staff, capture feedback, and act on employee sentiment. Harnessing these digital interactions through the WorkForce Suite can drive more effective employee engagement, provide for a safer, more compliant work environment, and boost employee retention for greater organizational resiliency and agility.

"In our work with some of the largest global employers, we can see that focusing on improvements to employee experience are being prioritized even more highly than before the pandemic," said Mike Morini, CEO of WorkForce Software. "A tightening labor market, lower barriers to job change, and an increasingly diverse and digitally native employee population with higher expectations creates a demand for employers to re-imagine their workforce management technology and include solutions aimed at improving the employee experience."

Today, there are 2.7 billion deskless workers in the global workforce—many of whom indicate a disconnect due to a growing technology gap, which makes it difficult for employers to communicate with employees and keep their workforce engaged at scale.

A 2021 survey recently conducted by WorkForce Software revealed a significant disparity in how employers and employees perceive the digital and technological support provided to meet workplace needs. According to the report, employers felt they had provided adequate job training, employee recognition, and scheduling flexibility, among other criteria, but many employees surveyed disagreed. This disconnect further exacerbates the struggle many organizations face to retain talented employees.

"Companies can no longer afford to consider solutions primarily aimed at the office worker and must include solutions that work for the entire workforce, especially those who don’t perform their work from behind a desk," said Morini. "To cultivate an inclusive corporate culture with highly engaged employees, companies must now invest in solutions that offer the consumer-grade experiences modern workers expect while enabling organizations to adequately engage their employees and keep operations running efficiently."

Organizations can now benefit from advancements to the WorkForce Suite that include:

WorkForce Experience – Creates powerful employee experiences that strengthen workplace bonds with communication and collaboration channels, easy access to information, in-the-moment feedback, micro-training, self-service, and automation.

WorkForce Labor Forecasting – Harnesses the power of machine learning to improve forecast models by evaluating new and historical data to more accurately predict labor needs and demand levels and ensure optimal staffing.

WorkForce Scheduling – Enables a flexible, collaborative approach to scheduling while still ensuring the needs of the business and internal and external policies are met. Employers can ensure qualified employees are placed when and where work needs to happen, while employees can communicate availability and resolve last-minute conflicts.

WorkForce Insights – Assists managers and executives to make faster, more accurate decisions based on key performance indicators, dynamic executive dashboards, data visualizations, and real-time insights that help them proactively take action to avoid undesirable labor costs, shortages, or negative employee experiences.

"With these solutions, employers can deliver a compelling value proposition to their employees today and as their needs continue to adapt in the future," said Morini.

To learn more about the WorkForce Suite, including the new WorkForce Experience (EX) solution, visit:  www.workforcesoftware.com/workforce-suite/employee-experience/

About WorkForce Software
WorkForce Software is the first global provider of workforce management solutions with integrated employee experience capabilities. The company’s WorkForce Suite adapts to each organization’s needs—no matter how unique their pay rules, labor regulations, and schedules—while delivering a breakthrough employee experience at the time and place work happens. Enterprise-grade and future-ready, WorkForce Software is helping some of the world’s most innovative organizations optimize their workforce, protect against compliance risks, and increase employee engagement to unlock new potential for resiliency and optimal performance. Whether your employees are deskless or office workers, unionized, full-time, part-time, or seasonal, WorkForce Software makes managing your global workforce easy, less costly, and more rewarding for everyone.  For more information, please visit WorkForceSoftware.com.

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PR Newswire

Cyient to Release Mobius, a SaaS-Based Solution for Utility Company Outage Planning and Scheduling, Powered by Microsoft Azure

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– Solution from Microsoft Gold Partner Cyient leverages Microsoft technologies to address challenges faced by utilities industry

HYDERABAD, India, June 15, 2021 — Cyient, a global engineering and technology solutions company, has announced the launch of Mobius, a software-as-a-service (SaaS)-based solution and decision support platform. Mobius—hosted on Microsoft Azure—consolidates the outage planning and approval process within a central location to provide improved information flow for optimizing schedule plans.

Mobius provides customers with:

  • A robust and secure outage planning, scheduling, and visualization system built on a strong communication platform for addressing ongoing and future outages and curtailments
  • Transparency in communicating planned outages to all connections that may be impacted
  • Reduced outages on their network and easy risk/opportunity tracking, helping reduce outage costs that can affect operational budgets

Commenting on the launch, Kimberley Reed, Product Owner at Cyient, said, "We’re excited about the launch of Mobius. Planned network outages are a routine requirement for most utilities. With the growing need for decarbonization initiatives and increasing number of distributed energy resource (DER) customers connecting to existing networks, utilities are faced with the challenge of improved communication and transparency of planned outages with DER customers."

In developing Mobius, Cyient extensively employed the following Microsoft offerings:

    1. Azure DevOps was used to manage the solution backlog and roadmap, enabling continuous enhancement and functionality for Mobius with minimal disruption during customer rollouts.
    2. Azure provides a scalable environment to offer Mobius as a SaaS solution by boosting connectivity among corporate users and accounts, as well as between external DER customers and network planners.
    3. Azure Portal is employed to manage application elements.
    4. Azure Blob Storage is used to store outages and site attachments so they can be created and viewed by all users in a centralized location.
    5. Azure Application Insights and Dashboards enables the Cyient product support team via the continuous monitoring of the application and microservices.
    6. Azure SQL Database provides the ability to manage and easily scale the database as required.

"The Microsoft Azure cloud platform was the development back end for Mobius. Integration with Azure DevOps completely removed any manual deployment tasks and provided a repeatable deployment process that enabled Cyient to focus on testing, with the certainty that any issues after deployment would be the result of code changes rather than missed dependencies during deployment," Reed explained. "Azure DevOps provided a centralized tool to enable us to manage our product backlog, define sprints, and store our code in the Git-backed code repository. This greatly simplified the product release process and subsequent rollout to customers and end-users."

Learn more about Mobius here.

About Cyient:

Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and digital technology solutions company. As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems. 

Cyient partners with customers to operate as part of their extended team in ways that best suit their organization’s culture and requirements. Cyient’s industry focus includes aerospace and defense, medical technology and healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial products, and energy and utilities.

Rudra Bose | Satyaki Maitra 

Cyient Press Office – Genesis BCW 

+91 9811626585 | +91 99580 41503

rudra.bose@genesis-bcw.com | satyaki.maitra@genesis-bcw.com

 

Devina Wallang | Michelle Lobo

Cyient PR Team 

+91 7829673285 | +91 9833307424

devina.wallang@cyient.com | michelle.lobo@cyient.com

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PR Newswire

Axxel Marketing Continues to Passionately Serve their Customers Amidst COVID-19 by Launching a Unified Mobile Platform Built by HokuApps

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New Mobile Platform Transforms All the Aspects of Axxel’s Business Functions like Procurement and Inventory System to Streamline Digital Sales

SINGAPORE, June 15, 2021 — One of the largest corporate gift suppliers in Singapore, Axxel Marketing, strives to provide the best solutions and services for its customers every time. They have created unique, meaningful, and impactful brand experiences for over 2,500 clients and delivered more than 200,000 gifting products to date. Managing more than 2,000 SKUs of gift products with over 65,000 square feet of the warehouse is a feat of organizational skill. When the company felt the need to convert operations to a purely digital model, they partnered with Singapore-based HokuApps, a global player in next-generation enterprise mobility services, to create a powerful and efficient mobile platform that has driven Axxel’s digital transformation. The timing was perfect because with the restrictions of COVID-19, having a unified online platform allowed Axxel to continue serving its customers without any disruptions.

Axxel Marketing has consistently seen rapid growth over the years, thanks to the support of their clients in various industries and countries. Driven by passion and commitment to serve from the heart, they believe in going the extra mile to provide a professional service alongside quality gift products. In the pursuit of creating this experience, they dedicated themselves to enhancing Axxel’s value-added services.

Working with HokuApps as their technology partner, Axxel Marketing, built a robust mobile application that brings order to every aspect of the company’s operations. It enables sales teams to easily manage their stock and sample inventory while also serving as a knowledge base to review items that were featured during sales or exhibitions. The app serves as a bridge between the sales and procurement teams for fast and accurate communications. It has also enhanced Axxel’s warehouse system by tracking the sales and sample activity for various items in addition to ID numbers, inventory, and location.

"The Hoku Apps team has been very helpful and diligent in their work, continuously fixing any bugs that might arise after the app was launched," said Jonathan Yang, CEO of Axxel Marketing. "Our Project Manager from HokuApps, Paresh, is very helpful and patient with us and our requirements. Their mobile platform has greatly streamlined our business processes, improved efficiency, automated process flow, knowledge management, and inventory transfers."

"We appreciate the opportunity to assist Axxel Marketing with its extensive digital upgrades," said Nand Kapoor, Director of HokuApps. "Our goal is always to produce a product that unquestionably boosts efficiency and reduces labor."

About HokuApps

HokuApps is the fast-growing rapid application development platform that empowers organizations to develop innovative technology solutions incredibly fast. With a cutting-edge automated development engine, HokuApps can build custom solutions for any part and any size of the business 10X faster and at a fraction of cost. This technology platform has enhanced mobile and data integration capabilities to enable companies to speedily deploy mobile and web applications. HokuApps empowers organizations to usher in their digital transformation journey to better engage with customers, partners, and employees.

PR Newswire

Recon Technology Announces Pricing of $55.0 million Registered Direct Offering

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BEIJING, June 14, 2021 — Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") announced today it has entered into a securities purchase agreement with certain accredited investors on June 14, 2021 to purchase $55.0 million worth of its Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) in a registered direct offering, and Class A ordinary shares warrants in a concurrent private placement.

Under the terms of the securities purchase agreement, the Company has agreed to sell 8,814,102 Class A ordinary shares or pre-funded warrants in lieu thereof, and warrants to purchase up to 8,814,102 Class A ordinary shares in a concurrent private placement transaction. The pre-funded warrants have an exercise price of $0.01 per share and will be exercisable immediately upon the date of issuance until they are exercised in full. The pre-funded warrants will be issued to certain purchasers who have elected to purchase them in lieu of Class A ordinary shares in this offering, as those purchasers would otherwise have exceeded 9.99% (or such lesser percentage as required by the investor) beneficial ownership of our Class A ordinary shares immediately following the offering. The ordinary share warrants will be exercisable immediately upon the date of issuance and have an exercise price of $6.24. The ordinary share warrants will expire five and a half years from the date of issuance. The purchase price for one ordinary share (or pre-funded warrant in lieu thereof) and a corresponding ordinary share warrant will be $6.24. The gross proceeds to the Company from this registered direct offering are estimated to be $55.0 million before deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering is expected to close on or about June 16, 2021, subject to the satisfaction of customary closing conditions.

Maxim Group LLC ("Maxim") is acting as the sole placement agent in connection with this offering.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form F-3 filed with the Securities and Exchange Commission (SEC) dated November 13, 2019, and declared effective on November 26, 2019, and Form F-3MEF filed thereafter. A prospectus supplement related to the offering will be, filed with the SEC and available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplements relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by telephone: at (212) 895-3500.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Recon Technology, Ltd.

Recon Technology, Ltd. (NASDAQ: RCON) is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE: SNP) and The China National Petroleum Corporation ("CNPC"), with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, Recon has taken leading positions on several segmented markets of the oil and gas filed service industry. Recon also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: www.recon.cn.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, whether we will sign any additional contracts with the North China Branch, the final revenue from providing services to the North China Branch, actual results of our solutions in the field, levels of spending in our industry as well as consumer confidence generally; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

For more information, please contact:
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: info@recon.cn

 

Related Links :

http://www.recon.cn/

PR Newswire

Meridian Capital-Backed Zhipin.com Lands on Nasdaq

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BEIJING, June 12, 2021 — On June 11, China’s largest online recruitment platform, Zhipin.com, successfully listed on the Nasdaq Stock Exchange, with the stock code BZ. In this IPO, 48 million American Depositary Shares (ADS) were issued, and the total funds raised exceeded USD1 billion. The company’s overall valuation exceeds USD8 billion.

Meridian Capital is an important institutional investor of Zhipin.com. After Zhipin.com’s founding in 2014, an in-depth communication between Meridian Capital and Zhipin.com’s founders started at the beginning of 2015, and by September of that year Meridian Capital had developed the investment framework and term sheet to become the company’s lead investor in the first round of Series C funding.

Subsequently, Meridian Capital increased its investment in Series C2 financing, and has been helping and accompanying the growth of Zhipin.com for more than 6 years.

Ji Wei, the founding Managing Partner of Meridian Capital, said, Zhipin.com has subverted the traditional resume-centric recruitment mode, promoting the efficient connection between recruiters and job seekers, and greatly improving the efficiency of talent matching.

In this case, initially, Meridian Capital was also a user of Zhipin.com, and later became its investor.

Ji Wei, Founding Managing Partner of Meridian Capital, Gaonan Zhang, Managing Partner of Meridian Capital with the Founder of Zhipin.com
Ji Wei, Founding Managing Partner of Meridian Capital, Gaonan Zhang, Managing Partner of Meridian Capital with the Founder of Zhipin.com

Meridian Capital is a leading venture capital firm in China. Up to now, Meridian Capital has managed over RMB8.5 billion of capital and invested in more than 190 companies. Meridian Capital has continually been active in the digital economy space, especially with regard to technology empowerment enterprises.

In addition to Zhipin.com, Meridian Capital has also invested in industry leading companies including Weimob, Biren Technology, DeepBlue Technology, Joyou.com, Beagledata. Meridian Capital has acted as the lead investor for 91% of all of its investment projects.

From the statistical data it can be seen that Meridian has successfully exited from more than 40 portfolios either through an IPO or through M&A, and nearly two-thirds of the companies it has invested in have completed multiple subsequent rounds of financing.

Zhao Peng, founder and CEO of Chinese tech sector recruitment leader Boss Zhipin
Zhao Peng, founder and CEO of Chinese tech sector recruitment leader Boss Zhipin

In the future, there is still considerable room for growth for Zhipin.com. CIC research data shows that the scale of China’s online recruitment market is expected to increase from RMB55.1 billion in 2020 to RMB223.4 billion in 2025, with a CAGR of 32.3%. 

Contact: gloria.xiang@meridiancapital.com.cn

 

PR Newswire

Recon Updates Progress on its Technology-Driven Solutions for Electric Submersible Progressing Cavity Pump with $5 Million Orders Secured

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BEIJING, June 11, 2021 — Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company") today announced that its subsidiary, Beijing BHD Petroleum Technology Limited, signed two contracts with North China E&P Company (the "North China Branch") of China Petroleum & Chemical Corporation ("Sinopec"). Pursuant to these two contracts, the Company has provided technical service with ultra-deep electric submersible progressing cavity pump ("ESPCP") to one gas well at the Dongsheng Field of the Second Gas Production Plant (the "Plant No. 2") of the North China Branch and will provide the same service to another gas well at the Plant No. 2. Total amount of these two contracts is RMB 3,277,000 (approximately $0.51 million).

Management Statement

"We are extremely excited to make more breakthroughs in the ultra-deep submersible progressing cavity pump business," said Mr. Guangqiang Chen, founder and CTO of Recon, "Since last year when we signed a contract with the North China Branch and completed our first trial, we have now signed service contracts for RMB5.077 million (approximately $0.8 million) with the North China Branch for three gas wells. We are in the process of communicating with the North China Branch for ESPCP and related services for 15 more wells and expect to complete services by the end of calendar year 2021. Added together, we expect these services will bring us about $5 million of income."

Mr. Chen continued, "Beyond our own AI-based technology, we further integrated and upgraded downhole gas-liquid separation metering technology with equipment such as the ultra-deep screw pump from National Oilwell Varco Inc. (NYSE: NOV) and the downhole multi-parameter sensing devices from Power Max Petroleum Technologies Ltd, a Canada based company. We completed the construction for one gas well at Plant No. 2 with our comprehensive solution by April 16, 2021. According to our observation and testing for almost two months, the drainage and gas boosting effect has been stable, and the production status of the whole set of equipment has been reliable. Without this solution, submersible pumps used by oil companies generally have a working life cycle of only three months, after which time sand jams and equipment wear tend to result in interruption of gas well production. As a result, oil and gas companies incur costly inspection and repair fees. Our solution is expected to guarantee stable operation for more than one year, thus saving the high inspection and repair service costs, equipment and accessories replacement costs, electricity costs and sewage treatment costs. Taken together, our solution can help our clients increase their margin by up to 40%. We held an on-site technical exchange and promotion meeting with the North China Branch on May 20, 2021 and we were told that the North China Branch will promote our ultra-deep screw pump same well recovery and injection technology to all the new gas wells to be invested by the North China Branch. In the future, we plan to continue upgrading our technology in the same well recovery and injection business to provide more value-added services to our clients, and bring more long term returns to the Company."

About Recon Technology, Ltd

Recon Technology, Ltd (NASDAQ: Recon) is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE: SNP) and The China National Petroleum Corporation ("CNPC"), with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, Recon has taken leading positions on several segmented markets of the oil and gas filed service industry. Recon also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: www.recon.cn.

Forward Looking Statements 

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, whether we will sign any additional contracts with the North China Branch, the final revenue from providing services to the North China Branch, actual results of our solutions in the field, levels of spending in our industry as well as consumer confidence generally; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

For more information, please contact:

Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: info@recon.cn

Related Links :

http://www.recon.cn/