Participated · Series B · Dec 2022

Lumen developed a handheld hardware device with a built-in CO2 sensor that determines metabolic fuel usage (whether the body is burning carbs or fat) and pairs with a smartphone app to provide personalized food, exercise and sleep recommendations. The device, which resembles a vape, is sold starting at about $250 with higher-priced personalized plans available. Lumen says the hardware replicates metabolic measurements that previously required expensive lab equipment and enables more frequent, at-home data collection. The company reports two million monthly metabolic measurements are taken using its devices. Co-founder and chief scientist Merav Mor said the product also opens new possibilities for research protocols by making data collection easier and more scalable. Lumen plans to use new funding to support business growth and new research. Lumen produces a pocket-sized device that measures metabolic gases in a single breath and uses a companion app to translate readings into daily personalized meal plans. The founders, Merav and Michal Mor, are both PhDs in physiology and cell biology; CEO Daniel Tal is also a co-founder. After four years of R&D they developed a method to measure respiratory quotient (RQ) in under three minutes; the technology is patent-pending and Frog design helped with product design. The company has raised $7 million over the past four and a half years and recently exceeded $1 million on an Indiegogo campaign. More than 300 beta users have averaged a 6.8 lb weight loss within the first 30 days of using the device. Lumen differentiates itself from competitors by requiring no cartridges, filters, or replacements and offering a free app.

Participated · Series A · Aug 2021

Messari provides market intelligence products combining analysis, data, news, and tools for individuals and institutions to improve transparency and participation in crypto. Led by CEO Ryan Selkis, the company develops offerings for measuring protocol health and usage. It has launched Protocol Metrics to standardize transparent data comparisons across networks and a Data Apps marketplace for customized data sets. Data Apps is in beta and available to select Enterprise users, with broader Enterprise availability planned. Messari also hosts Mainnet, an annual summit that gathers crypto leaders for product demos, workshops, and networking. The company intends to use new funding to expand its team and further develop its product suite. Messari builds a cryptoasset industry disclosures library and data analytics platform that enables investment professionals to evaluate opportunities in the emerging asset class. Led by CEO Ryan Selkis and based in New York City, the company combines formerly disparate market intelligence functions into Pro and Enterprise product suites used by Coinbase, Gemini, BlockTower, and Chainalysis. Since its founding in January 2018, Messari has launched an array of qualitative and quantitative data, research, and compliance products for crypto funds, infrastructure providers, and token creators. The company closed a $21M Series A to expand the global reach of its Pro and Enterprise suites and to triple the size of its engineering and research teams. It plans to introduce new offerings to streamline participation in decentralized projects and their communities and to grow its institutional footprint and its community research and educational content. Messari will also produce Mainnet 2021, its annual summit, which it will host September 20-22 in New York City.