Reference Capital

Wayve is a company focused on developing a fully autonomous driving system for vehicles, utilizing end-to-end deep learning technology. This approach enables the creation of artificial intelligence capable of navigating complex driving scenarios across various urban environments. The company operates a fleet of electric vehicles equipped for autonomous operation, which facilitates technology development and real-world testing. Headquartered in London, Wayve aims to provide a scalable solution for autonomous driving that can adapt quickly and safely to new driving conditions globally.

Kingdom Supercultures specializes in the development and production of microbial cultures that assist food manufacturers in creating innovative food products. Founded in 2019 and based in Brooklyn, New York, the company offers Koji, a traditional Japanese ingredient used in various fermented foods and beverages. Their technology utilizes an extensive biobank of Generally Recognized As Safe (GRAS) microbial strains and employs automated systems to characterize and assemble these strains into new combinations. This enables the production of plant-based foods that replicate dairy flavors, low-alcohol beverages with rich taste, and effective natural preservatives. Kingdom Supercultures collaborates with clients across multiple sectors, including food, beverage, personal care, and beauty, focusing on enhancing the health and sustainability of food offerings.

All Day Kitchens develops delivery-optimized kitchens that support restaurants in adapting to the digital, delivery, and pick-up landscape. By leveraging data, the company identifies and secures prime locations for cloud kitchens, allowing restaurants to expand their reach without significant upfront costs. Their platform facilitates the establishment of technical networks that enhance food delivery operations, enabling restaurants to thrive in a competitive market.

T3 Pharmaceuticals AG is a biopharmaceutical company based in Basel, Switzerland, founded in 2015. The company focuses on the research and development of innovative bacteria-based therapies aimed at treating cancer. Recognizing the ongoing need for novel treatments despite advancements in classical therapies, T3 Pharmaceuticals aims to enhance the lives of cancer patients by developing highly specific and efficient immuno-oncology therapies. Their proprietary approach utilizes a bacterial type III secretion system to deliver therapeutic proteins directly to solid tumors, providing a potential breakthrough in cancer treatment.

Monzo is a digital bank that operates primarily through its mobile application, offering a range of banking services including current, savings, and business accounts, as well as overdrafts and loans. It provides real-time spending updates, categorized transactions, budgeting tools, and instant transaction notifications. Monzo's unique features include 'Pots', sub-accounts for saving towards specific goals, and Monzo Plus, a premium subscription service offering additional benefits. The company, founded in 2015 and based in London, aims to serve customers who prefer managing their finances digitally, without the need for physical branches.

T3 Pharmaceuticals AG is a biopharmaceutical company based in Basel, Switzerland, founded in 2015. The company focuses on the research and development of innovative bacteria-based therapies aimed at treating cancer. Recognizing the ongoing need for novel treatments despite advancements in classical therapies, T3 Pharmaceuticals aims to enhance the lives of cancer patients by developing highly specific and efficient immuno-oncology therapies. Their proprietary approach utilizes a bacterial type III secretion system to deliver therapeutic proteins directly to solid tumors, providing a potential breakthrough in cancer treatment.

SOPHiA GENETICS is a healthcare technology company specializing in data-driven medicine. It offers the SOPHiA DDM™ Platform, a cloud-based SaaS solution that analyzes complex multimodal datasets from various diagnostic modalities to generate insights. With over 780 global clients, including hospitals, laboratories, and biopharma institutions across three continents, the company aims to make data-driven medicine the standard of care in healthcare and life sciences research.

NovImmmune is committed to innovation by discovering and developing therapeutic monoclonal antibodies (mAbs) to treat patients suffering from immune-related disorders.

Neocutis is a manufacturer of cosmeceutical products focused on skincare solutions that promote healthy and youthful skin. The company develops innovative, physician-dispensed products utilizing advanced technology platforms rooted in scientific research. Neocutis offers a range of topical preparations that address various skincare concerns, including the signs of aging, discoloration, oxidative stress, skin redness, and dryness. Additionally, the company provides specialized products for scarless wound healing and dermatological and gynecological infections, enhancing skin texture and overall appearance. Through its commitment to quality and innovation, Neocutis aims to be a trusted leader in the skincare industry.

NEXX Systems, Inc. is a designer and manufacturer of advanced processing equipment focused on wafer-level packaging applications. The company provides a range of systems, including sputter deposition, electro-deposition plating, and plasma cleaning, which are essential for flip chip advanced packaging processes. NEXX's electro-deposition systems facilitate long deposition time processes for applications such as gold and solder wafer bumping, redistribution layers, and various MEMS layers. The technology offered by NEXX Systems supports industries including compound semiconductors, hard disk drive head manufacturing, and inkjet printing. Founded in 2001 and headquartered in Billerica, Massachusetts, the company has established a global presence with representatives and distributors in multiple countries, including the United States, Germany, Italy, France, Switzerland, China, Israel, Korea, Japan, Singapore, and Taiwan.

NEXX Systems, Inc. is a designer and manufacturer of advanced processing equipment focused on wafer-level packaging applications. The company provides a range of systems, including sputter deposition, electro-deposition plating, and plasma cleaning, which are essential for flip chip advanced packaging processes. NEXX's electro-deposition systems facilitate long deposition time processes for applications such as gold and solder wafer bumping, redistribution layers, and various MEMS layers. The technology offered by NEXX Systems supports industries including compound semiconductors, hard disk drive head manufacturing, and inkjet printing. Founded in 2001 and headquartered in Billerica, Massachusetts, the company has established a global presence with representatives and distributors in multiple countries, including the United States, Germany, Italy, France, Switzerland, China, Israel, Korea, Japan, Singapore, and Taiwan.

Novalar Pharmaceuticals, Inc., a pharmaceutical company, develops oral pharmaceutical products. It focuses on dental products. The company’s OraVerse product (phentolamine mesylate) reverses the effects of local anesthetic with a vasoconstrictor and accelerates the return of normal sensation and function. Novalar Pharmaceuticals, Inc. was founded in 2000 and is based in San Diego, California. As of March 22, 2011, Novalar Pharmaceuticals, Inc. operates as a subsidiary of Septodont Limited.

NovImmmune is committed to innovation by discovering and developing therapeutic monoclonal antibodies (mAbs) to treat patients suffering from immune-related disorders.

EndoArt is a synthetic implant that treats corneal edema by establishing a new form of corneal availability, hence protecting vision and restoring function.

Kuros Biosciences AG is a biopharmaceutical company based in Schlieren, Switzerland, dedicated to the discovery, development, and commercialization of innovative products for tissue repair and regeneration. Founded in 2000 as a spin-off from the Eidgenössische Technische Hochschule Zürich, Kuros has developed a robust pipeline of biopharmaceuticals targeting chronic diseases. Its key products include Neuroseal, a novel biomaterial for dural sealing, and the MagnetOs family of bone graft substitutes used in orthopedic, spinal, and dental applications. MagnetOs is approved for use in the EU and the US, with further formulations under development for regulatory submission. Kuros also has a range of clinical-stage products, including KUR-111 and KUR-113, which have completed Phase II clinical trials for treating specific bone fractures. The company has engaged in significant clinical research, enrolling over 600 patients in multinational trials, generating promising data regarding safety and efficacy in various applications, particularly within orthobiologics.

NEXX Systems, Inc. is a designer and manufacturer of advanced processing equipment focused on wafer-level packaging applications. The company provides a range of systems, including sputter deposition, electro-deposition plating, and plasma cleaning, which are essential for flip chip advanced packaging processes. NEXX's electro-deposition systems facilitate long deposition time processes for applications such as gold and solder wafer bumping, redistribution layers, and various MEMS layers. The technology offered by NEXX Systems supports industries including compound semiconductors, hard disk drive head manufacturing, and inkjet printing. Founded in 2001 and headquartered in Billerica, Massachusetts, the company has established a global presence with representatives and distributors in multiple countries, including the United States, Germany, Italy, France, Switzerland, China, Israel, Korea, Japan, Singapore, and Taiwan.

Founded in 1997, Daptiv is a prominent provider of project portfolio management (PPM) solutions, boasting over 100,000 subscribers. Based in Seattle, Washington, the company enhances strategic planning and business execution for organizations across various sectors, including healthcare, financial services, and telecommunications. Daptiv's offerings include comprehensive project and portfolio management software that covers demand management, resource planning, and time management, complemented by project execution services such as storage, version control, alerting, discussions, and polling. Originally established as eProject, Inc. by Shane Jones, the company rebranded to Daptiv in November 2007 to reflect its evolving capabilities in delivering flexible PPM solutions and expert professional services.

Founded in 1997, Daptiv is a prominent provider of project portfolio management (PPM) solutions, boasting over 100,000 subscribers. Based in Seattle, Washington, the company enhances strategic planning and business execution for organizations across various sectors, including healthcare, financial services, and telecommunications. Daptiv's offerings include comprehensive project and portfolio management software that covers demand management, resource planning, and time management, complemented by project execution services such as storage, version control, alerting, discussions, and polling. Originally established as eProject, Inc. by Shane Jones, the company rebranded to Daptiv in November 2007 to reflect its evolving capabilities in delivering flexible PPM solutions and expert professional services.

M7 is a provider of web application development tools designed for both individuals and businesses. Founded in 1999, the company focuses on offering solutions for software developers, including the M7 Enterprise Repository, which allows application architects to expose Java objects, web services, and business processes. Additionally, M7 provides the M7 Enterprise Server, enabling uniform data access to back-end systems through a high-performance caching persistence engine. Another key offering is the M7 workflow, which streamlines application flow management by eliminating the need for hard-coding, thereby simplifying the maintenance of web applications. M7 was acquired by BEA Systems in 2005.

Novalar Pharmaceuticals, Inc., a pharmaceutical company, develops oral pharmaceutical products. It focuses on dental products. The company’s OraVerse product (phentolamine mesylate) reverses the effects of local anesthetic with a vasoconstrictor and accelerates the return of normal sensation and function. Novalar Pharmaceuticals, Inc. was founded in 2000 and is based in San Diego, California. As of March 22, 2011, Novalar Pharmaceuticals, Inc. operates as a subsidiary of Septodont Limited.

Kuros Biosciences AG is a biopharmaceutical company based in Schlieren, Switzerland, dedicated to the discovery, development, and commercialization of innovative products for tissue repair and regeneration. Founded in 2000 as a spin-off from the Eidgenössische Technische Hochschule Zürich, Kuros has developed a robust pipeline of biopharmaceuticals targeting chronic diseases. Its key products include Neuroseal, a novel biomaterial for dural sealing, and the MagnetOs family of bone graft substitutes used in orthopedic, spinal, and dental applications. MagnetOs is approved for use in the EU and the US, with further formulations under development for regulatory submission. Kuros also has a range of clinical-stage products, including KUR-111 and KUR-113, which have completed Phase II clinical trials for treating specific bone fractures. The company has engaged in significant clinical research, enrolling over 600 patients in multinational trials, generating promising data regarding safety and efficacy in various applications, particularly within orthobiologics.

Native Networks is a London-based developer of products for optical access networks. The company is based in Coventry, United Kingdom.

Thommen Medical is a medical device company focused on the development, production, and sale of dental implants under the brand name SPI (Swiss Precision Implant). The company emphasizes innovation and design excellence in its implant systems, which are crafted to enhance patient comfort during surgery and ensure long-term stability. In addition to dental implants, Thommen Medical also offers biomaterial solutions for bone and tissue regeneration. The company's products are developed in collaboration with leading scientific and dental clinicians, ensuring precision and ease of use in their applications.

NEXX Systems, Inc. is a designer and manufacturer of advanced processing equipment focused on wafer-level packaging applications. The company provides a range of systems, including sputter deposition, electro-deposition plating, and plasma cleaning, which are essential for flip chip advanced packaging processes. NEXX's electro-deposition systems facilitate long deposition time processes for applications such as gold and solder wafer bumping, redistribution layers, and various MEMS layers. The technology offered by NEXX Systems supports industries including compound semiconductors, hard disk drive head manufacturing, and inkjet printing. Founded in 2001 and headquartered in Billerica, Massachusetts, the company has established a global presence with representatives and distributors in multiple countries, including the United States, Germany, Italy, France, Switzerland, China, Israel, Korea, Japan, Singapore, and Taiwan.

Neocutis is a manufacturer of cosmeceutical products focused on skincare solutions that promote healthy and youthful skin. The company develops innovative, physician-dispensed products utilizing advanced technology platforms rooted in scientific research. Neocutis offers a range of topical preparations that address various skincare concerns, including the signs of aging, discoloration, oxidative stress, skin redness, and dryness. Additionally, the company provides specialized products for scarless wound healing and dermatological and gynecological infections, enhancing skin texture and overall appearance. Through its commitment to quality and innovation, Neocutis aims to be a trusted leader in the skincare industry.

PAION AG is a biopharmaceutical company based in Aachen, Germany, that specializes in the development and commercialization of innovative medical solutions for procedural sedation, anesthesia, and critical care. Founded in 2000, the company focuses on addressing significant unmet medical needs through its lead product, remimazolam. This ultra-short-acting intravenous benzodiazepine sedative/anesthetic is characterized by its rapid metabolism to an inactive form, allowing for controllable sedation and anesthesia. PAION has completed clinical development of remimazolam for procedural sedation in the United States, while it is also approved for use in general anesthesia in Europe. The company operates through its subsidiaries, providing support and resources to advance its product offerings.

Thommen Medical is a medical device company focused on the development, production, and sale of dental implants under the brand name SPI (Swiss Precision Implant). The company emphasizes innovation and design excellence in its implant systems, which are crafted to enhance patient comfort during surgery and ensure long-term stability. In addition to dental implants, Thommen Medical also offers biomaterial solutions for bone and tissue regeneration. The company's products are developed in collaboration with leading scientific and dental clinicians, ensuring precision and ease of use in their applications.

Native Networks is a London-based developer of products for optical access networks. The company is based in Coventry, United Kingdom.

PAION AG is a biopharmaceutical company based in Aachen, Germany, that specializes in the development and commercialization of innovative medical solutions for procedural sedation, anesthesia, and critical care. Founded in 2000, the company focuses on addressing significant unmet medical needs through its lead product, remimazolam. This ultra-short-acting intravenous benzodiazepine sedative/anesthetic is characterized by its rapid metabolism to an inactive form, allowing for controllable sedation and anesthesia. PAION has completed clinical development of remimazolam for procedural sedation in the United States, while it is also approved for use in general anesthesia in Europe. The company operates through its subsidiaries, providing support and resources to advance its product offerings.

M7 is a provider of web application development tools designed for both individuals and businesses. Founded in 1999, the company focuses on offering solutions for software developers, including the M7 Enterprise Repository, which allows application architects to expose Java objects, web services, and business processes. Additionally, M7 provides the M7 Enterprise Server, enabling uniform data access to back-end systems through a high-performance caching persistence engine. Another key offering is the M7 workflow, which streamlines application flow management by eliminating the need for hard-coding, thereby simplifying the maintenance of web applications. M7 was acquired by BEA Systems in 2005.

Axovan AG is a Switzerland-based biopharmaceutical research company focused on developing novel drugs targeting G protein-coupled receptors. The company aims to facilitate the discovery and creation of medications that can be delivered to patients in a timely manner. By concentrating on this specific area of drug development, Axovan seeks to advance therapeutic options and improve patient outcomes.

PAION AG is a biopharmaceutical company based in Aachen, Germany, that specializes in the development and commercialization of innovative medical solutions for procedural sedation, anesthesia, and critical care. Founded in 2000, the company focuses on addressing significant unmet medical needs through its lead product, remimazolam. This ultra-short-acting intravenous benzodiazepine sedative/anesthetic is characterized by its rapid metabolism to an inactive form, allowing for controllable sedation and anesthesia. PAION has completed clinical development of remimazolam for procedural sedation in the United States, while it is also approved for use in general anesthesia in Europe. The company operates through its subsidiaries, providing support and resources to advance its product offerings.

NEXX Systems, Inc. is a designer and manufacturer of advanced processing equipment focused on wafer-level packaging applications. The company provides a range of systems, including sputter deposition, electro-deposition plating, and plasma cleaning, which are essential for flip chip advanced packaging processes. NEXX's electro-deposition systems facilitate long deposition time processes for applications such as gold and solder wafer bumping, redistribution layers, and various MEMS layers. The technology offered by NEXX Systems supports industries including compound semiconductors, hard disk drive head manufacturing, and inkjet printing. Founded in 2001 and headquartered in Billerica, Massachusetts, the company has established a global presence with representatives and distributors in multiple countries, including the United States, Germany, Italy, France, Switzerland, China, Israel, Korea, Japan, Singapore, and Taiwan.

MakeMusic, Inc. is a prominent leader in music technology, specializing in developing innovative software solutions for musicians, educators, and students. The company is known for its flagship product, Finale, which is recognized as the best-selling music notation software globally. Additionally, MakeMusic offers Garritan, a leading provider of high-quality virtual software instruments, and SmartMusic, an interactive platform that supports music practice with an extensive library of accompaniments and immediate performance feedback. Furthermore, MakeMusic is the creator of MusicXML, an open standard format designed for the exchange of digital sheet music. Together, these products enhance the musical experience for composers, arrangers, teachers, and performers alike.

Axovan AG is a Switzerland-based biopharmaceutical research company focused on developing novel drugs targeting G protein-coupled receptors. The company aims to facilitate the discovery and creation of medications that can be delivered to patients in a timely manner. By concentrating on this specific area of drug development, Axovan seeks to advance therapeutic options and improve patient outcomes.

NovImmmune is committed to innovation by discovering and developing therapeutic monoclonal antibodies (mAbs) to treat patients suffering from immune-related disorders.

Lysis specializes in digital television and audio-visual rights management. The company provides a platform that enables the management of end-to-end workflow of TV content, from rights management, metadata, and content pricing to video-on-demand delivery, personalized content recommendation, and analytics. The customers of the company include many digital players from Disney, Paramount, British Film Institute to Virgin Media, Telefonica, Korea Telecom, Broadcast.com (Yahoo), Dish Network, and US Government.

Trintech is a software company that specializes in automating reconciliation and financial processes for financial institutions. The company offers a suite of cloud-based solutions designed to enhance the record-to-report process, including account reconciliations, transaction matching, task management, audit capabilities, financial reporting, and risk management. By streamlining these financial processes, Trintech enables users to achieve increased efficiency, visibility, and control, ultimately minimizing resource use, costs, and risks. Its tools are aimed at reducing manual accounting tasks, thereby mitigating potential errors and enhancing overall financial governance for clients in the United States and globally.

Actelion Pharmaceuticals, established in 1997 and headquartered in Allschwil, Switzerland, is a biopharmaceutical company specializing in the discovery, development, and commercialization of low molecular weight drugs for unmet medical needs. Its primary focus is on pulmonary arterial hypertension (PAH), offering a range of treatments including Tracleer, Opsumit, Uptravi, Ventavis, and Veletri, which cater to different stages of the disease and administration methods. Additionally, Actelion provides Zavesca for Gaucher disease and Valchlor for a rare form of blood cancer. The company markets its products globally and has built a robust commercial infrastructure for its approved orphan drugs. Actelion supplements its internal pipeline through strategic in-licensing and acquisitions, operating as a subsidiary of Johnson & Johnson.

Virata Corp. is a fabless semiconductor company. It provides integrated circuits, software, and system designs for broadband applications that enable the high-speed transmission of data, voice, and video-over-copper telephone lines. The company's digital subscriber line (DSL) products include a range of solutions for all DSL applications such as ADSL, HDSL, HDSL2, SDSL, and VDSL. Its processor-independent software products deliver universal plug and play, security, and embedded web management capabilities; voice-over-packet applications; and MPEG2 encoder and decoder single chip solutions for next-generation digital video products. Virata Corp. was founded in 1998 and is based in Santa Clara, California.

SCM Microsystems offers conditional access security systems for encryption, payment, and data storage.

Identiv is a global security technology company focused on establishing trust in the connected world by providing solutions that secure and manage access to physical locations, information, and everyday items. The company operates through two main segments: the Premises segment, which addresses security needs for government and enterprise through access control, video surveillance, and analytics, and the Identity segment, which offers products for secure access to information, including cybersecurity measures and IoT protection using RFID technology. Identiv serves a variety of sectors, including government, education, retail, transportation, and healthcare, and its solutions are designed to help organizations reduce risk, ensure compliance, and safeguard their brand identity. The company's offerings leverage standards-based technology, encompassing digital certificates, mobility, and cloud services, and are delivered through its Identiv Trust Services platform.

Identiv is a global security technology company focused on establishing trust in the connected world by providing solutions that secure and manage access to physical locations, information, and everyday items. The company operates through two main segments: the Premises segment, which addresses security needs for government and enterprise through access control, video surveillance, and analytics, and the Identity segment, which offers products for secure access to information, including cybersecurity measures and IoT protection using RFID technology. Identiv serves a variety of sectors, including government, education, retail, transportation, and healthcare, and its solutions are designed to help organizations reduce risk, ensure compliance, and safeguard their brand identity. The company's offerings leverage standards-based technology, encompassing digital certificates, mobility, and cloud services, and are delivered through its Identiv Trust Services platform.

SCM Microsystems offers conditional access security systems for encryption, payment, and data storage.

Seatex is a leading developer and manufacturer of precision positioning and motion sensing systems, while Autronica makes marine sensors and liquid cargo monitoring and control systems.

Dolphin Interconnect Solutions specializes in PCI Express software and hardware tailored for multi-computing systems. Established in 1992, the company has focused on creating innovative solutions for embedded systems, scientific applications, and original equipment manufacturers (OEMs). With a strong emphasis on enhancing data transfer and processing capabilities, Dolphin has positioned itself as a leading provider in the multi-computing sector.

Voice recognition solution

Mathsoft Engineering & Education, Inc. specializes in developing software solutions tailored for the math, science, and engineering sectors, catering to business, academic, research, and government clients. The company emerged from the former MathSoft in 2001 when it was acquired by its division managers and has since focused on its core products. It continues to enhance and market its flagship product, Mathcad, along with the Mathcad Calculation Server, which facilitates the sharing of technical calculations in enterprise environments. Additionally, Mathsoft Engineering & Education creates custom math programs tailored to specific client needs and offers a data analysis package known as StatServer, reinforcing its commitment to providing robust solutions for complex computational challenges.

WESCO International, Inc. is a leading distributor of electrical, industrial, and communications maintenance, repair, and operating (MRO) products, as well as construction materials, operating both in North America and internationally. The company offers a wide array of general supplies, including wiring devices, connectors, tools, safety equipment, and various MRO items. Additionally, WESCO provides specialized products such as structured cabling systems, solar modules, and electrical distribution equipment like circuit breakers and transformers. The company also delivers value-added services such as supply chain management, logistics, and procurement solutions tailored to large national and multinational customers. Founded in 1922 and headquartered in Pittsburgh, Pennsylvania, WESCO serves a diverse clientele, including industrial firms, contractors, utilities, and governmental entities, focusing on enhancing operational efficiency and optimizing supply chain costs.

SanDisk, established in 1988, is a multinational corporation headquartered in Milpitas, California. It specializes in designing, developing, manufacturing, and marketing data storage solutions globally. The company's product portfolio includes removable storage cards for consumer devices like digital cameras, smartphones, and e-readers, under brands such as SanDisk Ultra, Extreme, and Extreme PRO. Additionally, it offers embedded products for mobile devices, automotive, and connected home applications, as well as solid-state drives (SSDs) for client and enterprise computing. SanDisk sells its products through various channels, including direct sales, distributors, and retailers.

Valtronic SA is an electronic medical device contract manufacturer that focuses on the production of miniaturized electronic products, specifically for medical device partners. The company specializes in the development of implantable electronics and micro mechanics, offering both engineering and contract manufacturing services. Valtronic serves clients in the medical device and high-tech industries, providing solutions that include microelectronics, active implants, and complex assembly builds.

SanDisk, established in 1988, is a multinational corporation headquartered in Milpitas, California. It specializes in designing, developing, manufacturing, and marketing data storage solutions globally. The company's product portfolio includes removable storage cards for consumer devices like digital cameras, smartphones, and e-readers, under brands such as SanDisk Ultra, Extreme, and Extreme PRO. Additionally, it offers embedded products for mobile devices, automotive, and connected home applications, as well as solid-state drives (SSDs) for client and enterprise computing. SanDisk sells its products through various channels, including direct sales, distributors, and retailers.

Caere is a developer of software solutions for scanners and digital cameras.

SanDisk, established in 1988, is a multinational corporation headquartered in Milpitas, California. It specializes in designing, developing, manufacturing, and marketing data storage solutions globally. The company's product portfolio includes removable storage cards for consumer devices like digital cameras, smartphones, and e-readers, under brands such as SanDisk Ultra, Extreme, and Extreme PRO. Additionally, it offers embedded products for mobile devices, automotive, and connected home applications, as well as solid-state drives (SSDs) for client and enterprise computing. SanDisk sells its products through various channels, including direct sales, distributors, and retailers.