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Pharos Closes $8 Million Seed Round Led By Lightspeed Faction and Hack VC

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The funding round is announced alongside a partnership with ZAN to jointly explore hardware acceleration, infrastructure technologies, and more

ROAD TOWN, British Virgin Islands, Nov. 8, 2024 /PRNewswire/ — Pharos , a full-stack, parallel layer-1 blockchain network, today announced the completion of an $8 million seed round investment co-led by Lightspeed Faction (“Faction”) and Hack VC, with additional participation from strategic anchor investor SNZ Capital and other investors including Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.

The company plans to utilize the funding to accelerate the development of the Pharos protocol and drive the growth of the ecosystem and community. The company will maintain its vision of driving mass adoption through efficient blockchain technology implementation into the verticals of decentralized finance, real world assets, and more.

In tandem with the funding round, Pharos has announced a strategic partnership with ZAN, the Web3 brand of Ant Digital Technologies, to jointly explore and develop web3 infrastructure, focusing on node service, security and hardware acceleration.

“We are incredibly grateful for the trust and support from our investors,” said Alex Zhang, CEO of Pharos. “This is just the beginning of an exciting journey. At Pharos, we are driven by our belief to bridge existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem. This seed round propels us closer to realizing that vision.”

With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access. Pharos envisions a real-time payment network that not only delivers unparalleled scalability and performance but also connects existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem.

Investor Quotes:

Clara Boh, Deal Partner at Faction : “Pharos’ unique approach to parallelism and high-performance architecture positions it as a game-changer for bringing real-world assets and decentralized finance together. We are thrilled to be a part of Pharos’ seed funding round as it advances its vision of a truly interconnected, scalable blockchain network.”

Alex Pack, Managing Partner at Hack VC : For blockchains to go mainstream and get true mass adoption they must become orders-of-magnitude more scalable and performant. The Pharos team has been working on this problem for years, at the highest level, and we’re excited to support them now in solving these problems with the Pharos protocol.

About Pharos:

Pharos is a full-stack parallel blockchain, pushing the boundaries of decentralized innovation. With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access.

Pharos is committed to bridging existing FinTech services with trustless Web3 innovations, to onboard billions of new users and real-world assets into the Web3 ecosystem.

About Lightspeed Faction:

Lightspeed Faction (“Faction”) is the leading blockchain-native venture capital firm that merges Silicon Valley VC experience with deep blockchain expertise. Faction typically invests in early-stage startups across the blockchain ecosystem that are in their Seed or Series A funding rounds. Faction is firmly committed to the growth of the crypto space, investing in projects with the potential to meaningfully contribute to and advance the industry and society at large.

For more information, please visit: https://www.faction.vc 

About Faction’s Relationship with Lightspeed

Faction Ventures, LLC (“Faction”) and Lightspeed Management Company, L.L.C. (“Lightspeed”) are separate businesses that operate independently of each other. Faction is a registered investment adviser under the United States Investment Advisers Act of 1940, as amended. Faction advises its own fund(s) and does not advise any Lightspeed clients, and Lightspeed does not advise Faction or any of its clients.

About Hack VC:

Hack VC is a Web3 venture capital firm that partners on- and off-chain with hackers building the future of the Internet at the earliest stages. The firm invests in infrastructure, such as AI, blockchain protocols, and financial technology, with investments across 100+ companies and protocols. Hack VC runs hack.labs(), an in-house tech platform for institutional grade network participation, through which its team of blockchain engineers and quant researchers provide liquidity, stake, make open-source contributions, and more. In addition, Hack VC created and hosts hack.summit(), a global developer community and one of the world’s largest blockchain programmer events, with 130K+ attendees from 150+ countries across events to date.

About SNZ Capital:

SNZ is a crypto-native, research-driven investment company based in HK, Singapore and US, with 200+ portfolios. Active since 2014, beyond investment, the SNZ team has been dedicated to community building and incubation, notably as one of the earliest backers of Ethereum in Asia, and the strategic partner for western projects to expand in Asia. SNZ is an engaging and proactive investor that grows with portfolios. In addition, SNZ has deep industry know-how and great network with Web 2.0 and trafi ecosystems, committed to connecting different stakeholders to empower the development of Web 3.0.

About ZAN:

ZAN is the technology brand of Ant Digital Technologies for Web3 products and services. Powered by AntChain Open Labs’ TrustBase open-source technical stack, ZAN provides rich and reliable services for business innovations and a development platform for Web3 endeavors. The ZAN product family includes ZAN eKYC, ZAN KYT, ZAN Smart Contract Review, ZAN Node Service, with more products being on the way.

Media Contact: faction@mgroupsc.com

View original content:https://www.prnewswire.com/news-releases/pharos-closes-8-million-seed-round-led-by-lightspeed-faction-and-hack-vc-302300329.html

SOURCE Pharos

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CompTIA Community recipient of IT Nation Torch Award

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Named Community of the Year at IT Nation Connect 2024

DOWNERS GROVE, Ill., Nov. 8, 2024 /PRNewswire/ — The CompTIA Community is pleased to announce it was honored with the prestigious IT Nation Torch Award as Community of the Year by the IT Nation, a global community of peers, thought leaders, and experts dedicated to elevating the IT ecosystem to new heights.

The CompTIA Community was recognized by IT Nation for its outstanding collaboration, engagement, and support for its members and the industry through knowledge-sharing, networking, and professional growth.

“Knowing that the IT Nation Torch Award comes from peers, thought leaders, and experts who are collectively pushing the industry to new heights makes it especially humbling for us,” said MJ Shoer, chief community officer at CompTIA. “We’re honored and proud to provide the industry with a global community that is committed to helping every channel professional and business succeed.”

“We are thrilled to introduce the IT Nation Torch Awards, celebrating excellence within the IT community,” said Gregg Lalle, senior vice president and general manager of IT Nation. “These awards aim to recognize the remarkable achievements and contributions of individuals, organizations, and media professionals who have made a significant impact on the industry. We invite all members of the IT community to participate in this exciting awards program and join us in honoring the best and brightest in our industry.”

The CompTIA Community is the leading global, vendor-neutral and non-profit technology channel association for MSPs, vendors, distributors, and other companies serving the technology ecosystem. It is a trusted group of industry peers who have access to exclusive tools and resources needed to build a thriving business and contribute to the growth of the IT channel. This community includes regional groups around the world; cybersecurity resources, such as the Information Sharing and Analysis Organization (ISAO) and Cybersecurity Trustmark; market research; events; industry education and training and more.

IT Nation Torch Award winners were nominated by leaders across the IT ecosystem and recognized for their exceptional dedication, innovation, and commitment within the IT channel community. Awards were presented tonight at IT Nation Connect, a top annual industry conference focused on education, inspiration, and networking to help individuals solve MSP challenges and grow. For more information about the IT Nation Torch Awards, including nomination details and eligibility criteria, visit https://www.connectwise.com/theitnation.

About CompTIA 
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5 trillion global information technology ecosystem; and the estimated 75 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world’s economy. Through community, education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for unlocking the potential of the tech industry and its workforce. http://Connect.CompTIA.org

About IT Nation
The IT Nation is a vibrant and inclusive community that brings together the brightest minds from Managed Solution Providers (MSPs) and IT channel vendors worldwide. Our shared culture, rooted in the Go-Giver philosophy, enables us to harness collective wisdom for mutual growth. Our mission is to empower individuals who align with this worldview by providing purpose-built tools and success frameworks. These resources are designed to help our members define goals, create strategic plans, and execute with precision. At IT Nation, we are dedicated to cultivating an environment where innovation, education, planning, accountability, and celebration serve as the pillars of success. The IT Nation inspires excellence, collaboration fuels advancement, and shared success drives us toward our mission: Wise Together, Rise Together. Learn more at https://www.connectwise.com/theitnation.

Media Contacts
Steven Ostrowski
CompTIA
sostrowski@comptia.org
+1.630.678.8468

Inkhouse for ConnectWise
ConnectWise@Inkhouse.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/comptia-community-recipient-of-it-nation-torch-award-302300350.html

SOURCE CompTIA

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Notice of Data Security Incident

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SCHAUMBURG, Ill., Nov. 8, 2024 /PRNewswire/ — Set Forth, Inc. (“Forth”) and Centrex Software, Inc. (“Centrex”), are notifying individuals of a data security incident that may have impacted consumer personal information. Forth and Centrex provide cloud-based customer relationship management (CRM) solutions powered by the Set Forth platform. This platform allows businesses to collect and share consumer information, with their permission, between its users. Neither Forth or Centrex have any indication that any personal information has been used for fraud or identity theft.

On May 21, 2024, Forth and Centrex discovered suspicious activity from an unauthorized user on their systems. They immediately implemented their incident response protocols, began an investigation, and engaged independent computer forensic specialists to help. The investigation determined, on July 1, 2024, that the unauthorized user gained access to documents on their systems. The review of potentially impacted documents determined that the following data elements may have been contained in the documents: names, Social Security numbers, dates of birth, and addresses.

Letters are being mailed on November 8, 2024, providing recipients with information about what occurred, steps taken in response and offering credit monitoring and identity restoration services through IDX at no cost. Impacted individuals should also monitor their credit reports and financial statements for suspicious activity.

Forth and Centrex have taken steps to prevent a similar incident from occurring in the future, including hardening web application firewalls, completing additional third-party penetration testing, adding additional full-time resources for security specific code reviews and anomalous system user/activity behavior, and enhancing other existing security controls.

Individuals should contact 1-877-210-5107 Monday through Friday from 9 am – 9 pm Eastern Time to determine whether they were affected by this incident or if they have any questions. Forth and Centrex take the need to protect the privacy and security of all information in their respective care very seriously, and deeply regret any inconvenience or concern that this matter may cause.

View original content:https://www.prnewswire.com/news-releases/notice-of-data-security-incident-302299568.html

SOURCE Set Forth, Inc.

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Augmented Reality Market to Grow by USD 461.8 Billion from 2024-2028, as Rising Investments Drive Revenue with AI Redefining the Market Landscape – Technavio

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NEW YORK, Nov. 8, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global augmented reality (AR) market size is estimated to grow by USD 461.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 46.1% during the forecast period. Increasing investments in AR technology is driving market growth, with a trend towards increasing AR integration in mobile devices. However, privacy concerns over ar technology poses a challenge.Key market players include Alphabet Inc., Atheer Inc, Dynabook Inc., Inglobe Technologies Srl, Marxent Labs LLC, Maxst Co. Ltd., Meta Platforms Inc., Microsoft Corp., Optinvent, PTC Inc., Qualcomm Inc., RealWear Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp., Ultraleap Ltd., Upskill, Vuzix Corp., Wikitude GmbH, and Zugara Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware and Software), End-user (Enterprise, Retail, Healthcare, Media and entertainment, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Alphabet Inc., Atheer Inc, Dynabook Inc., Inglobe Technologies Srl, Marxent Labs LLC, Maxst Co. Ltd., Meta Platforms Inc., Microsoft Corp., Optinvent, PTC Inc., Qualcomm Inc., RealWear Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp., Ultraleap Ltd., Upskill, Vuzix Corp., Wikitude GmbH, and Zugara Inc.

Key Market Trends Fueling Growth

The augmented reality (AR) market is experiencing significant growth, with smartphone vendors like Apple and Samsung integrating hardware and software for AR mobile platforms. AR solutions enhance user experience and increase the value proposition of mobile devices, including smartphones, phablets, and tablets. The market expansion is driven by the popularity and penetration of AR technology in industries such as 5G providers, AR chipsets, AR glasses, automotive sectors, defense & aerospace industry, education, gaming, media and entertainment, medical education, retail, and safety management. AR applications offer benefits in areas like design and visualization, engineering, drug information, interactive showrooms, and professional training. Technologies like OLED and spatial computing are also contributing to the market’s growth. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

 Augmented Reality (AR) market encompasses various industries, including manufacturing, retail, education, gaming, and healthcare. AR technology offers enhanced experiences in sectors like automotive, drug information, and professional training. However, privacy concerns loom large due to the collection and processing of user data. AR can access personal information from social media and threaten user privacy through hacking. Smart glasses, with their ability to screen and process environments, raise privacy concerns for individuals and those around them. These challenges may hinder the AR market’s growth during the forecast period.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This augmented reality (ar) market report extensively covers market segmentation by

Component 1.1 Hardware1.2 SoftwareEnd-user 2.1 Enterprise2.2 Retail2.3 Healthcare2.4 Media and entertainment2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Hardware- The Augmented Reality (AR) market is segmented by component into hardware and software. The hardware segment, which includes AR glasses, chipsets, and smartphones, is currently leading the market in terms of revenue share in 2022. This dominance is attributed to the expanding use of AR technology in various industries and verticals, such as the manufacturing industry for quality control and operations, media and entertainment for experiences, and the medical industry for medical education and augmented surgeries. Meta, a tech giant, and several startups are investing heavily in AR technology, leading to the development of advanced AR devices like Mixed reality (MR) smart glasses using OLED technology. The retail industry is also leveraging AR for virtual fitting rooms and virtual walkthroughs, while the automotive sectors are using AR for brand engagement and design visualization. Spatial computing, 5G providers, and computer vision are other emerging areas in the AR industry. Stanford University and other institutions are conducting research in AR technology for safety management, professional training, and wellbeing applications. The AR hardware market is expected to continue its growth trajectory during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

In the dynamic and innovative realm of technology, the Augmented Reality (AR) market is experiencing unprecedented growth. This cutting-edge technology is revolutionizing various sectors, including media and entertainment, gaming, and retail industries. In the gaming sector, AR is enhancing user experience by overlaying digital information on the real world. The integration of 5G providers and computer vision technology is enabling seamless AR experiences on smartphones. Tech players and startups are investing heavily in AR research and development, focusing on spatial computing and design and visualization. In the media industry, AR is being used for training, quality control, and safety management in operations. Stanford University and other educational institutions are incorporating AR into their curricula to prepare the next generation of engineers. The AR industry is also making strides in the retail sector, offering virtual try-on features and enhancing the shopping experience.

Market Research Overview

The Augmented Reality (AR) market is a rapidly growing industry that blends digital information with the physical world, creating experiences for consumers. AR technology is used in various sectors such as education, healthcare, retail, and manufacturing. It enhances user experience by overlaying digital content onto real-world environments, providing valuable information and interactive experiences. AR is revolutionizing industries by improving productivity, enhancing customer engagement, and providing new opportunities for innovation. The market is driven by advancements in technology, increasing consumer demand, and investments from major industries. AR is expected to continue its growth trajectory, transforming the way we interact with the world around US.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareEnd-userEnterpriseRetailHealthcareMedia And EntertainmentOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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