Upstream Security Raises $36M from Mitsui Sumitomo Insurance to Disrupt the Telematics Insurance Space
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HERZLIYA, Israel and TOKYO, May 20, 2021 /PRNewswire/ Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, Inc. today announced a strategic partnership through capital investment into Upstream Security, which offers a cloud-based mobility cybersecurity and data analytics platform as part of the automotive OEM s vehicle security operations center (VSOC). MSI is leading Upstream s C-Round as part of a larger investment round that will be announced by Upstream during Q2 2021. In addition to MSI, I.D.I. Insurance Company, one of the Israel s leading insurance companies, also took part in the investment round. Earlier this year, I.D.I. together with MSI, launched a joint technology hub in Israel.
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ALLIANCE – The city is making progress with plans to redevelop the north side of the 500 block of East Main Street.
City Council passed an ordinance Monday approving an agreement between the city and Intellicore to acquire land owned by the company that Director of Public Safety and Service Michael Dreger said the city needs to reconfigure the area. This is for a small lot that sits next to where we currently have a parking lot, he said.
In February, Council approved an ordinance to demolish four buildings at 172, 176, 530 and 534 E. Main that had been condemned or certified delinquent. Dreger said the city aims to begin demolitions within the next two to three weeks. Alliance plans to repurpose the lots and put them back to use.
KALRAY: 2020 RESULTS IN LINE WITH PREVIOUSLY ANNOUNCED GUIDANCE AND CONFIRMATION OF 2021 OUTLOOK
Higher net cash, thanks to new financing, to cover company needs until operational breakeven point is reached;
Business development activities in line with the strategic plan for priority markets (Data Center and Automotive) and many additional opportunities under discussion on Edge Computing to position Kalray as the future European champion of intelligent processors;
Implementation of industrial operations, in order to engage volume production of Coolidge and Kalray accelerator cards in 2021;
Confirmation of higher net sales objective in 2021, with the ambition to reach € 100 million in 2023.
Grenoble - France, April 20, 2021 - Kalray (Euronext Growth Paris: ALKAL), a leading provider in new generation of processors specialized in Intelligent Data Processing from Cloud to Edge, communicates its annual results for 2020 and confirms short & mid-term objectives for the company.