o DC-based Synergos Fund Launches; Aims to Raise $150 Million
o McLean-Based ServicePower Acquires France’s Inveniam
o College Park-Based IonQ Acquires Quantum Memory Startup
o Gaithersburg’s GeneDx Acquires Fabric Genomics
o College Park-Based IonQ Completes Deal for ID Quantique
o Briefly Noted: Coign, KlariVis, Digital Global Systems (DGS)
DC-based Synergos Fund Launches; Aims to Raise $150 Million
Washington, DC – Synergos Holdings, a New York-based private investment group, announced that it seeks to deploy up to $150 million in a new fund that will focus on startups in the DC area and those focused on the government sector. Led by managing partner Michelle Urben, The Synergos Fund will target startups in manufacturing, energy security, energy transition materials and agricultural technology. The fund was the lead investor in a $14 million seed round for Curio, a DC-based nuclear energy technology company. Synergos Holdings, the parent group, is led by Yehudah Moskowitz and Rabbi Yechezkel Moskowitz.
“We’re investing across multiple funding rounds and different sectors, removing some of the risk that is inherent in standard evergreen funds,” Urben said in a statement. “We don’t necessarily invest in companies with an eye to an exit. While that is one way to get ROI, the point of our Fund is to create durable companies that will succeed long-term.”
McLean-Based ServicePower Acquires France’s Inveniam
McLean, Va. – ServicePower, a McLean-based developer of field service management software, said it has acquired France’s Inveniam, a developer of computer vision technology designed to automate quality assurance for field operations. Financial terms of the deal were not disclosed. Inveniam’s visual intelligence tools allow clients – particularly in the telecommunications, utilities and infrastructure sectors – to conduct real-time quality assurance and operational assessments, as well as guide the work technicians are performing in the field. ServicePower said it plans to integrate Inveniam’s capabilities into its platform over the coming months.
College Park-Based IonQ Acquires Quantum Memory Startup
College Park, Md. – IonQ, the College Park-based quantum computing and networking company, said on Wednesday it will acquire Boston-based Lightsynq Technologies, a startup founded by former Harvard University quantum memory experts. Financial terms of the deal were not disclosed. IonQ said the deal will significantly accelerate its quantum networking and quantum computing roadmaps.
“IonQ’s vision has always been to scale our quantum networks through quantum repeaters, and scale our quantum compute power through photonic interconnects,” said Niccolo de Masi, the CEO of IonQ. “[Lightsynq’s] groundbreaking technology will accelerate IonQ’s commercial quantum computer delivery to 10,000s and ultimately millions of qubits.”
Gaithersburg’s GeneDx Acquires Fabric Genomics
Gaithersburg, Md. – GeneDx, a Connecticut-based genomics company with labs headquartered in Gaithersburg, said on Wednesday it has acquired California-based Fabric Genomics, a developer of AI-powered genomic interpretation tools. Financial terms of the deal were not disclosed. GeneDx said the combination of its exome and genome testing and rare disease data with Fabric Genomics’ AI interpretation services will establish a “new ecosystem” for genomic testing. Fabric Genomics will operate independently as a unit of GeneDx.
“Healthcare is at an inflection point where genomic insights must be integrated into standard care to improve outcomes and reduce costs,” said Katherine Stueland, the president and CEO of GeneDx. “With Fabric Genomics now part of GeneDx, we’re uniquely positioned to deliver earlier and more accurate diagnoses worldwide, from NICUs and pioneering newborn screening programs to health systems across the globe.”
College Park-Based IonQ Completes Deal for ID Quantique
College Park, Md. – IonQ, the College Park-based developer of quantum computing and networking systems, said on Tuesday it has completed its deal for a controlling stake in Switzerland-based quantum networking company ID Quantique (IDQ) from owner SK Telecom. Financial terms of the all-stock deal, first announced in February, were not disclosed. IonQ said the acquisition will give it access to IDQ’s team, products and growing quantum networking business, as well as the company’s portfolio of nearly 300 patents and patent applications.
“The acquisition of IDQ expands upon IonQ’s significant advantage in the quantum networking market and positions us as the global powerhouse for secure compute and communications,” said Jordan Shapiro, the president and general manager of quantum networking at IonQ. “By combining IonQ’s high-performance quantum computing and networking capabilities with IDQ’s expertise in quantum-safe communications and quantum detection systems, we are well-positioned to deliver comprehensive quantum solutions that address our customers’ critical needs and serve as the foundations for the Quantum Internet.”
Briefly Noted:
(McLean, Va.) McLean-based fintech company Coign has named Rodney Yoder as its CFO. Yoder most recently served as the CFO of Sunlight Financial, and previously held senior leadership positions for more than a decade at Barclays.
(Roanoke, Va.) Roanoke-based KlariVis, a developer of data analytics tools for financial institutions, said it has expanded its sales team to meet increased demand for its products from community banks. The company said it has hired Gaham Waldrop, Meaghan Kincaid, Heather Knight, Martin Horak, Nathan Neblung and Taylor Hamm as sales executives.
(Tysons, Va.) Tysons-based Digital Global Systems (DGS), a developer of radio frequency spectrum and sensor intelligence technology, has named Lewis Merletti to its advisory board. Merletti earlier served as director of the U.S. Secret Service, overseeing the protection of Presidents Reagan, Bush and Clinton.