Participated · Series B · Sep 2024

Morphotonics develops large-area Roll-to-Plate (R2P) nanoimprint equipment, processes, and materials to add complex optical structures—such as trillions of lenses over areas greater than one square meter—onto glass and foils. Its technology targets next-generation display products including glasses-free 3D displays, Smart AR Glasses, high-performance mobile screens, and outdoor-readable smartphones, combining high precision with large-scale, cost-efficient production. The company says its solutions enable energy-efficient optics for mobile devices and aim to make AR smart glasses more accessible. Morphotonics serves customers across Europe, the United States, and Asia from its base in the Brainport Region of Eindhoven, the Netherlands. On its 10th anniversary the company launched a Series B round and completed a first closing of $10+ million, with a second closing anticipated by year-end. With early customer success and an experienced leadership team, Morphotonics plans to scale operations and supply chain and expand its global customer base, particularly in Asia.

Participated · Equity · Aug 2021

Everactive, led by CEO Bob Nunn and based in Santa Clara, CA, sells batteryless, always-on wireless Internet of Things (IoT) sensors and cloud-based analytics. Its Eversensors are powered exclusively from harvested energy through ultra-low-power circuit design and wireless communication, enabling continuous data collection without batteries. The company provides networking and cloud software to deliver end-to-end services that generate self-sustaining data streams and high-value insights. Product offerings include Steam Trap Monitoring (STM) and Machine Health Monitoring (MHM), which aim to reduce steam loss and associated energy and emissions waste, lower downtime, improve efficiency, and extend asset life. Customers named in the article include Anheuser-Busch In-Bev, Colgate-Palmolive, Hershey’s and Merck, as well as several universities and the U.S. Government. Financially, Everactive added $16M in strategic funding that builds on an earlier Series C and brings the Series C total to over $50M. Everactive develops batteryless, always-on wireless IoT systems that power Eversensors exclusively from harvested energy to continuously measure, process, and transmit equipment health data. Its technology relies on proprietary ultra-low-power semiconductors that the company says require 1,000x less power than competing circuits. Everactive sells end-to-end monitoring solutions—hardware, networking, and cloud analytics—delivered as-a-service to simplify deployments and reduce upfront integration costs. The company targets high-volume industrial assets that are typically unmonitored due to the logistical and cost barriers of battery-powered sensors, including motors, pumps, compressors, and steam traps. Customers named in the articles include 3M, Colgate-Palmolive, Hershey’s, Merck, several universities, and the U.S. government. The firm plans to use new funding to accelerate sales, marketing, and product development in the industrial sector to enable pervasive remote monitoring and address skills gaps in manufacturing. Everactive was spun out of the University of Michigan and the University of Virginia in 2012 and is based in Santa Clara, Calif. Everactive produces always-on, batteryless wireless sensors and end-to-end analytics for industrial customers, powering devices from harvested energy rather than batteries. The company productized ultra-low-power silicon and built networking, software, and cloud analytics to deliver continuous condition monitoring and asset insights. Its initial products include a Steam Trap Monitor (launched in late 2018), a Machine Health Monitor for vibration on rotating equipment, and a Flare System Monitor for refineries. Everactive targets industrial use cases to reduce downtime, cut maintenance costs, improve safety, and lower environmental impact, and customers are in small-scale deployments today. The company rebranded from PsiKick to Everactive and says it is seeing rapid customer adoption driven by its go-to-market strategy. Everactive has offices in Santa Clara, CA; Charlottesville, VA; and Ann Arbor, MI. PsiKick builds wireless, self-powering Internet of Things (IoT) systems that eliminate dependence on batteries by combining energy-harvesting nodes with overhauled wireless communication and ultra-low-power radios. The company says its platform includes highly efficient wireless connectivity and robust node computation designed to enable scalable batteryless IoT deployments. PsiKick leverages technology developed at the University of Virginia and the University of Michigan. The firm plans to use the new financing to continue hiring IoT engineering talent and to develop completely batteryless systems based on its core technologies. PsiKick is based in Santa Clara, California, with design centers in Charlottesville, VA and Ann Arbor, MI. To date the company has raised over $22M in total funding.

Participated · Series B · Jul 2021

Led by CEO Davide Marini and based in Medford, MA, Inkbit develops a multi-material additive manufacturing system designed for volume production of complex polymer 3D printed parts. Its Vision-Controlled Jetting (VCJ) technology combines advances in computation, chemistry and process control to scale from prototyping to production on the same platform. The system targets rapid manufacturing of innovative products such as complex industrial fluidics and bio-inspired robots. Inkbit says its platform accelerates the translation of ideas into products and enables multi-material manufacturing across development and production. The company intends to use newly raised funds to expand operations and advance development efforts. No operating metrics (revenue/users) were disclosed in the article. Inkbit develops vision-guided, closed-loop 3D printers that use imaging and AI to detect and correct printing errors on the fly. The company’s Vista printer, released in February, builds on its Vision-Controlled Jetting (VCJ) closed-loop feedback technology. Inkbit holds exclusive licensing rights to technology developed with financial support from DARPA. Founded in 2017, the firm says it is experiencing significant growth and plans to scale its team to meet customer demand. The latest funding will be used to expand sales reach in the U.S. and into additional markets including Asia and Europe/Middle East/Africa. Total funding now stands at $45 million after the current round. Inkbit developed the first 3D printer driven by vision-based feedback control and artificial intelligence, using contactless material jetting to print multi-material parts with production-grade materials. The platform adds machine vision and machine learning to material jetting to increase accuracy, reliability and automated quality assurance for every printed part. The company aims to industrialize its system for multi-material and volume manufacturing, expand its materials set for medical, life sciences and robotics applications, and install first units for customers. Inkbit has run an early access program with customers such as Johnson & Johnson and plans to release first systems in 2021 to select customers. The company was spun out of MIT CSAIL in 2017 and is based in Medford, Massachusetts. Prior and public funders include DARPA, the National Science Foundation and MassVentures.

Participated · Series A · Jan 2020

Socially Determined provides Social Risk Intelligence through its SocialScape® SaaS platform and advisory services, aggregating data and proprietary analytics to reveal where social risk exists and how it affects health outcomes. The platform is designed for payers, life sciences companies, providers and other stakeholders to reduce healthcare disparities and improve engagement. The company has an expanded partnership with CareFirst BlueCross BlueShield to serve CareFirst’s 3.5 million members through an enterprise-wide deployment of SocialScape. Socially Determined said it has gathered data sets on factors like food insecurity, transportation barriers, and financial strain and built analytics and expertise to standardize SDOH assessment at scale. Headquartered in Washington, D.C., it was recently named by Fierce Healthcare as one of the 15 most promising healthcare companies. The company closed a $26 million Series B and will use proceeds to fund product enhancements, sales and marketing, and R&D focused on further technology and platform automation. Socially Determined builds analytics focused on the science and measurement of social determinants of health (SDOH). Its flagship platform, SocialScape®, quantifies social risk and delivers insights into how SDOH affect utilization, cost, and outcomes. The technology is supported by a team of experts who provide SDOH program evaluation, deep cohort analysis, and guidance to clients. The company helps clients grow lines of business into new geographies and risk arrangements through analytic insights. Socially Determined plans to use the Series A proceeds to continue expanding operations and its business reach. The company was co-founded in 2017 by Trenor Williams, MD, Ryan Bosch, MD, and Anthony Beverina and is based in Washington, DC, with a second office in Blacksburg, VA.

Participated · Equity · Nov 2013

Ecovative develops materials and food products using a proprietary AirMycelium platform that grows mycelium at industrial scale for applications including MyBacon, Mushroom Packaging and Forager eco-materials. The company produces material at scale—claiming it can grow three million sq ft of material annually on one acre—and has MyBacon in over 600 retailers across the U.S. coasts. Recent capital is being used to expand MyBacon distribution from 600 to thousands of stores through 2025, and to scale production via a tripled packaging facility at its Green Island headquarters and an expanded Canadian plant that can add 1,000,000 lbs of product by 2025. Ecovative plans to commercialize AirLoom alt-leather hides for the 2025 season; those hides are grown in nine days with about half the emissions of conventional leather and are designed to integrate with existing tannery infrastructure. The company is converting Dutch mushroom farms into mycelium production facilities and says several commercial mushroom farms have expressed interest in joining its partner network. Ecovative develops and manufactures mycelium-based materials—grown on leftover plant fibers—for applications across fashion and apparel, food, packaging, automotive and construction. Its core product lines and services include the Forager business (textiles and foams), Mushroom® Packaging, and the Mycelium Foundry for custom material development. The company also operates MyForest Foods, a food subsidiary founded in 2020, and is expanding its retail footprint across the Eastern Seaboard. Over the last year Ecovative commissioned 120,000 sqft of new manufacturing for mycelium bacon, textiles and foams, built and handed off the world’s largest AirMycelium™ farm, acquired a raw materials facility in the Netherlands, and expanded Mushroom® Packaging with 20,000 sqft of production capacity. It partners with more than 15 brands and manufacturers, including ECCO Leather, Vivobarefoot, Wolverine Worldwide, BESTSELLER, Pangaia and PVH Corp. The company emphasizes that its materials are home compostable, plastic free and cruelty-free, and is focused on scaling manufacturing and retail distribution to meet growing brand and consumer demand. Financially, Ecovative announced an initial Series E closing of over $30 million (with $15 million reinvested into MyForest Foods) and has raised $120 million to date. Ecovative develops mycelium-based materials using biofabrication and modern materials science to serve industries including textiles, food and packaging. The company built the Mycelium Foundry and the AirMycelium™ manufacturing platform to produce mycelium at industrial scale. It recently activated 100,000 pounds per year of new manufacturing capacity to meet growing partner demand, including packaging suppliers and tanneries. Led by CEO and co‑founder Eben Bayer and founded in 2007, Ecovative works with partners to grow custom mycelium solutions for everyday needs. The company intends to use new funding to power a next‑generation Mycelium Foundry and further boost production. To date the company has raised $100M in total capital, including the recently announced round. Founded in 2007, Ecovative Design develops patent‑protected mycelium‑based materials that grow home‑compostable composites to replace plastic foams used in protective packaging, automotive components, building materials, shoes and floral foam. The company has also applied its mycelium expertise to create a lighter engineered‑wood replacement that eliminates the need for toxic glues. Ecovative works with licensing partners such as Sealed Air to scale production and commercial deployment. It recently opened a facility in Cedar Rapids, Iowa, to support growth of its Restore™ Mushroom® Packaging business in North America. The company plans additional protective‑packaging facilities in Europe and Asia and is actively seeking strategic partners. Ecovative raised equity financing to fund U.S. scaling and expansion into new markets including building materials, automotive components and structural cores.