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WekaIO Raises $31.7 Million in Series C Funding



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New Capital to Drive Global Expansion and Accelerate Market Demand  

SAN JOSE, Calif.–(BUSINESS WIRE)–lt;a href=”” target=”_blank”gt;#AIlt;/agt;–WekaIO,
the innovation leader in high-performance, scalable file storage for
data-intensive applications, today announced it has closed $31.7 million
in a Series C funding round fueled by existing investors and new
strategic investors from the storage industry, including Hewlett Packard
Enterprise (HPE), Mellanox Technologies, NVIDIA, Seagate, and Western
Digital Capital, the strategic investment fund of Western Digital Corp.
(WDC), alongside Qualcomm which invested previously. The new funding
brings the company’s total capital raised to $66.7 million.

WekaIO plans to use the investment primarily to support the continued
acceleration of its market trajectory and international business
expansion through increased investments in engineering, sales, and
marketing, giving WekaIO Matrix™ clear market advantage in addressing
data intensive applications at scale in key verticals including
artificial intelligence (AI), machine learning (ML), life sciences,
finance and engineering.

Matrix, the world’s fastest file system and WekaIO’s flagship product,
is widely used by customers with I/O intensive workloads commonly found
in AI, ML, high velocity analytics, and high-performance computing
(HPC). WekaIO delivers its patented software on pre-engineered solutions
with HPE, Supermicro, and Western Digital or it can be installed on any
industry-standard Intel x86-based server or used on the AWS Cloud to
deliver enterprise grade HPC at cloud-scale economics. The company’s
capacity-based pricing model allows customers to start small and scale
as their needs grow. Matrix tightly integrates object storage for best
economics at scale and supports features such as snapshots, cloud backup
and disaster recovery, alongside multiprotocol support including NFS and
SMB. The NVMe-optimized and POSIX-compliant file system delivers the
industry’s leading performance and the lowest latency, as measured by
independent SPEC
SFS 2014
benchmark testing and VI4IO’s 10
Node Challenge list

“This latest round of financing sets the stage for substantial growth
and allows us to continue our mission to deliver an enterprise grade HPC
storage solution at cloud scale economics,” says Liran Zvibel, CEO and
co-founder of WekaIO. “Modern workloads need a modern file system and
legacy solutions just can’t keep pace. In under two years since our
launch from stealth, we’ve been lauded with industry awards and
accolades, been validated in production environments with leading
enterprise organizations, and broken records on industry leading
benchmark tests beating out some of the world’s largest supercomputers.
This additional capital will allow us to increase our presence worldwide
and continue to innovate in order to exceed the evolving needs of our

“We are seeing an explosion of artificial intelligence, machine and
deep learning along with high-performance computing in the enterprise
market,” said Paul Glaser, Head of Pathfinder, HPE. “By combining HPE’s
industry-leading server architecture with WekaIO’s performance-leading
software in an integrated, tested and validated package, we can deliver
best of breed solutions to our customers. This is a great example of
HPE’s Pathfinder program that seeks to partner with emerging companies
that are strategically aligned with HPE to drive innovative customer
solutions and benefits.”

“We have been demonstrating performance improvements for mutual
customers with WekaIO since they launched from stealth in 2017. The
combination of Matrix software and Mellanox Ethernet and InfiniBand
adapters delivers a high-performance storage solution that can address a
broad range of use cases in AI, machine learning, High Performance
Computing and high velocity analytics,” commented Nimrod Gindi, Senior
Vice President of M&A and Head of Investments, Mellanox Technologies.
“We are enthusiastic to support WekaIO in this round of funding to
encourage the development of emerging technologies, like Matrix.”

“As the world leader in accelerated computing, NVIDIA is at the
forefront of AI innovation,” added Jeff Herbst, Vice President of
Business Development, NVIDIA. “WekaIO has pioneered an impressive modern
parallel file system that delivers important capabilities to accelerate
AI and workloads at scale—with high throughput, high bandwidth and low
latency data access to GPU-based servers.”

“With the increase of data-hungry and low latency AI applications in
the enterprise, we anticipate that the combination of WekaIO’s
cutting-edge NVMe solutions tiered to S3 data pools on Seagate’s Multi
Actuator based storage products will provide unparalleled scale,
performance and TCO. We are excited to partner with WekaIO, and look
forward to a close relationship,” said Ravi Naik, Senior Vice President
of Corporate Strategy & CIO, Seagate. “Seagate’s mission is to maximize
data’s potential, so we are excited to support the development of
NVMe-native file systems like WekaIO Matrix that were built from the
ground up to maximize the efficiencies of flash to support these modern

WekaIO was awarded Gartner
Cool Vendor
, a spot in Silicon Review’s 10 Fastest Growing Storage
Companies list, the Artificial Intelligence
Excellence Award
and the AIConics
. These achievements highlight the company’s continued industry
momentum to deliver unmatched HPC-class storage with enterprise-level
features and services, all in one solution, that provides IT with a
robust platform to support data-intensive applications.

About WekaIO

WekaIO helps companies manage, scale and futureproof their data center
so they can solve real problems that impact the world. WekaIO Matrix™,
the world’s fastest shared parallel file system and WekaIO’s flagship
product, leapfrogs legacy storage infrastructures by delivering
simplicity, scale, and the best performance density per U, for a
fraction of the cost. In the cloud or on-premises, WekaIO’s NVMe-native
high-performance software-defined storage solution removes the barriers
between the data and the compute layer, thus accelerating artificial
intelligence, machine learning, genomics, research, and analytics

Western Digital and the Western Digital logo are registered trademarks
or trademarks of Western Digital Corporation or its affiliates in the
U.S. and/or other countries.


Media Contact
Waters Communications
Sarah Shkargi
[email protected]

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Innocan Pharma Announces Study Findings that LPT-CBD maintains its prolonged release in Rabbits




HERZLIYA, Israel and CALGARY, AB, Feb. 26, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the latest findings from the Company’s pharmacokinetic study of its LPT-CBD platform in rabbits.

The fundamentals of LPT-CBD lay in its ability to slowly release CBD into the blood stream. Studies conducted in various animal models including mice, dogs, goats, and sheep showed long pharmacokinetics of CBD that persisted up to several weeks. In the Company’s latest study conducted on rabbits, the results showed additional supportive data for the long exposure of CBD obtained following a single subcutaneous LPT-CBD injection.   

The Company is encouraged by these study results as they confirm the approach the Company is taking with its LPT platform. The results from studies of several organisms injected with the Company’s liposomal CBD –have consistently demonstrated that a detectable CBD level could be maintained for weeks following one injection. The Company will continue with human trials in the near future.

Pharmacokinetics (PK) is an important tool that helps evaluate the bioavailability and exposure level of a specific drug. Parameters such as maximal blood drug concentration (cMax), time to reach cMax (Tmax) and half-life of the drug are calculated based on data collected from blood analysis of the drug across a determined time. The collected PK parameters along with other tests help to define the required dose of a drug to achieve a maximal therapeutic effect. In the study conducted on rabbits, the animals were collected for blood analysis of the drug for up to 11 days. As expected, the animals presented a persistent CBD concentration in their blood that maintained through the entire testing period. This correlates to PK results obtained from other species, supporting the long CBD exposure and the necessity of only a single LPT-CBD injection to obtain a long and wide therapeutic window for CBD.   

About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales.

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025


Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. . The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.


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Schwazze Appoints Forrest Hoffmaster as Interim Chief Executive Officer




DENVER, Feb. 23, 2024 /PRNewswire/ — Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), today announced that Forrest Hoffmaster, the Company’s Chief Financial Officer, has been appointed to the additional role of interim Chief Executive Officer (“CEO”). This follows Nirup Krishnamurthy’s resignation as CEO and as a member of the Board of Directors (“Board”), effective February 20, 2024, due to personal reasons.

Mr. Hoffmaster, who joined the Company in January 2023, brings over 30 years of executive experience in finance and operations for both public and private companies. Prior to Schwazze, Mr. Hoffmaster served as CEO of New Seasons Market, a specialty gourmet food retailer, where he navigated the company through one of the most disruptive periods in the retail grocery industry. Under his leadership, Mr. Hoffmaster implemented a focused growth and cost optimization program, enabling the company to grow EBITDA by over 30% in two years. Prior to New Seasons Market, Forrest held leadership positions with other leading grocers including Whole Foods Market and H-E-B.

“Forrest is well-positioned to seamlessly step in and lead the Company’s day-to-day operations as we conduct our search for a permanent successor,” said Justin Dye, Chairman of the Board. “With Forrest’s proven track record and deep retail expertise, we plan to continue leveraging our operating playbook to drive strong Adjusted EBITDA margins and consistent cash flow generation. On behalf of the Board, I’d like to wish Nirup the best in his future endeavors.”

About Schwazze

Schwazze (OTCQX: SHWZ) (NEO: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.

Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth. To learn more about Schwazze, visit

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intends,” “plans,” “strategy,” “prospects,” “anticipate,” “believe,” “approximately,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected] 

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Hemp, Inc. Reports: Hemp-Based Foods Market Set to Reach $8.36 Billion by 2028



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