Led · Equity · Nov 2025

Indivi is an ISO 13485 and ISO 27001-certified TechBio company headquartered in Basel, Switzerland that creates precision-medicine software and sensor-based tools to generate functional and electrophysiological biomarkers for neurological disorders. Its platform combines multimodal deep phenotyping—merging biological electrophysiology data with sensor-derived cognitive and motor assessments—to deliver clearer Proof-of-Biology and Proof-of-Concept signals in clinical trials. The technology is aimed at de-risking early clinical development for indications such as multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, muscular dystrophies and other neuromuscular disorders by improving the signal-to-noise ratio of trial endpoints. Indivi recently partnered with Clouds of Care to unify R&D efforts around this multimodal approach. With fresh financing, the company plans to launch a proof-of-concept trial in 2026 that will seek new functional and electrophysiological biomarkers responsive to β-amyloid-depleting therapies in Alzheimer’s disease. Successful validation could increase the likelihood of detecting treatment efficacy earlier and accelerate time-to-market for biopharma partners. The latest CHF15 million raise expands Indivi’s resources to validate and deploy its biomarker platform across neuroscience drug development.

Participated · Equity · Dec 2024

SandboxAQ develops physics-grounded AI tools—centered on its ReAQT platform and Large Quantitative Models (LQMs)—that generate high-fidelity simulation data and predict properties of yet-to-be-synthesized materials. The company uses workflows such as AQCat and AQVolt to screen catalyst and battery chemistries with near-quantum-chemistry accuracy, and it has collaborated with NVIDIA on AQCat. SandboxAQ has published technical work in journals including Nature NPJ Computational Materials and Chemical Science. Its models are trained on the laws of physics, chemistry, and biology rather than human language, enabling virtual screening of millions of candidate materials to reduce lab trial-and-error. Following the CHIPS award, SandboxAQ plans to advance top candidates into scaled domestic manufacturing through American manufacturing partners and to invest the award funds into its platform and model enhancements.

Participated · Equity · Apr 2024

Blaize provides a purpose‑built, full‑stack programmable processor architecture and a low‑code/no‑code software platform (Blaize AI Studio and Blaize Picasso SDK) for edge and data‑center AI. Its solutions target automotive, mobility, retail, security, industrial automation, healthcare and other markets, emphasizing low power consumption, minimal latency and high efficiency. The company’s architecture and software aim to enable rapid development and deployment of applications with a highly optimized total cost of ownership. Blaize says current and next‑generation offerings will support computer vision, transformers and multimodal generative AI, and are designed to scale from the edge to the data center. The company has a comprehensive partner ecosystem and more than 200 employees across offices in El Dorado Hills (CA), San Jose (CA), Cary (NC), Hyderabad (India), Leeds and Kings Langley (UK), and Abu Dhabi (UAE). Blaize previously raised $224 million from strategic and financial investors and recently completed a $106 million financing to strengthen its balance sheet and accelerate its roadmap. In December 2023 Blaize announced its intention to go public via a business combination with Nasdaq‑listed BurTech Acquisition Corp. Blaize develops AI System-on-Chips (SoCs) and the Blaize AI Studio end-to-end application lifecycle software platform for edge and automotive computing. Its GSP architecture underpins first-generation edge hardware released in 2020 and a multi-year pipeline of products. The company targets automotive (in-cabin, out-of-vehicle, and autonomous functions), smart retail, smart city/metro and industrial markets. Blaize emphasizes power-efficient performance advantages for electric vehicles and centralized automotive compute, positioning its SoCs to improve efficiency and lower cost. The company will use the $71M Series D to accelerate its product roadmap and develop next-generation hardware and software to meet demand for higher performance, lower power and lower cost AI solutions. Prior to the Series D Blaize had raised US$87M from strategic and venture backers and employs 300+ people with headquarters in El Dorado Hills, California and teams/subsidiaries in Campbell and Cary (US), Hyderabad, Manila and the UK. ThinCI is an Artificial Intelligence computing architecture startup developing computing platforms for the expanding AI/machine learning market. Its core product is the Graph Streaming Processor (GSP) and a Software Development Kit (SDK), a general purpose fully programmable computing architecture. The GSP and SDK are designed to accelerate and optimize machine learning, deep learning, neural networks and computer vision workloads. ThinCI targets deployment across data center servers, edge infrastructure platforms and client platforms, from massive machine learning farms to sensor fusion and advanced neural networks for autonomous driving. The company said it will use proceeds from the Series C to continue to expand operations. ThinCI is led by CEO Dinakar Munagala and has teams in California, Hyderabad, India and the UK. Thinci develops machine-learning technology, including silicon and software, to enable embedded deep learning and vision processing in electronic systems. Led by CEO Dinakar Munagala, the company targets automotive applications such as advanced driver assistance systems and autonomous driving. Its technology can also be integrated into personal electronics and smart home automation systems. Thinci's product focus is on embedding vision processing into vehicle electronics to improve thermal system efficiency and optimize powertrain productivity. The article does not disclose revenue, user metrics, or the financial terms of the investment.

Led · Equity · Sep 2023

Multiwave Technologies develops an ultra-portable MRI system that combines AI and metamaterials to make magnetic resonance imaging more affordable and accessible. The company’s team spans computational physics, material science, and engineering. Its core product is positioned to expand diagnostic access in both developed and developing countries. Multiwave operates from a Geneva incubator (Fongit) and has a research arm in Marseille, France. The firm received a dual-phase capital boost in July–August 2023 and is pursuing an additional financing round by year-end to support regulatory approval. Its French division secured a European Commission grant (EUR 700,000) that feeds into a broader Horizon Europe grant totaling EUR 3.5 million. Multiwave Technologies develops MGNTQÔ, which it describes as the world’s lightest portable MRI device, and has begun delivering units to the imaging community. It delivered its first portable MRI devices to Mount Sinai Hospital in New York and to Brighton and Sussex Medical School in July and August 2022. The device has not yet received regulatory approval, but the company has a backlog of orders for research machines from universities, research institutes and foundations in Europe and the US. Multiwave plans to file for FDA 510(k) clearance and CE marking in the coming quarters and intends to raise a larger financing round by the end of 2022 to support regulatory approval. Financially, the group has raised more than CHF15.5 million to date, including CHF1 million just closed as a convertible note, $5.5 million from angel investors, and about CHF10 million in non-dilutive capital from initiatives of the European Commission, France, and Switzerland. The company was founded in 2015, is headquartered at incubator Fongit in Geneva, and maintains a research arm in Marseille, France.

Participated · Convertible Note · Jul 2022

Northvolt is a Swedish manufacturer of battery cells for electric vehicles, operating a flagship gigafactory (Northvolt Ett) in Skellefteå and Northvolt Labs in Västerås. The company has filed for Chapter 11 bankruptcy protection in the US to enable restructuring, reorganisation and additional fundraising while continuing operations. Northvolt says operations will continue as normal during the bankruptcy and expects to complete the restructuring by Q1 2025. Founders include former Tesla executives Peter Carlsson and Paolo Cerruti; Carlsson will step aside as CEO, take a Senior Advisor role, and remain a Board member. The company has previously raised over $13.8 billion but has struggled with falling EV demand, intense Chinese competition, a €2 billion lost BMW contract, and large workforce reductions (1,600 layoffs). Operational metrics show it missed a production goal of 100,000 cells per week, shipping roughly 20,000, and it reports having enough cash for about one week of operations despite securing new financing. Northvolt is a Swedish battery startup building large-scale gigafactories to produce lithium-ion cells and packs for electric vehicles. The company aims to ramp production capacity to about 60 gigawatt hours, which the article equates to enough cells for over 1 million Volkswagen ID.3 vehicles. Northvolt says it has offtake contracts totaling more than $55 billion with automakers including BMW, Volkswagen, Volvo and Scania. It is expanding its manufacturing footprint with additional factories in Germany and Montreal; the Montreal site is intended to attract U.S. production tax credits under the Inflation Reduction Act. Financially, Northvolt secured a $5 billion debt package that includes refinancing an existing $1.6 billion facility from 2020, improving its runway for factory build-out and scale-up. Northvolt develops and manufactures sustainable battery cells and systems, with activities spanning R&D, manufacturing and recycling. It operates Europe’s first homegrown gigafactory, Northvolt Ett in Skellefteå, and runs an R&D and industrialization campus, Northvolt Labs, in Västerås. The company has received $55 billion in orders from major customers including BMW, Volvo Cars, Volkswagen Group, Scania and Fluence, and is supported by over 5,000 employees across Sweden, Germany, Norway, Poland, Portugal, the US and Canada. Northvolt is developing additional projects across Europe and the Northvolt Six fully integrated battery factory in Saint‑Basile‑le‑Grand and McMasterville, Québec, which when built will target up to 60 GWh annual production and on‑site cathode, cell and recycling facilities. Groundwork for Northvolt Six was expected to start by the end of 2023. The company was established in 2016 in Stockholm, Sweden. Northvolt makes lithium-ion batteries and is developing next-generation lithium-metal cell technology, including work on electric aviation at a California facility. The company operates a gigafactory in Skellefteå and is building another in Gothenburg with Volvo, plus plants in Germany and an energy storage factory in Poland. This round is intended to fund expansion into North America and further growth in Europe; sources say Northvolt is close to finalizing plans for a multibillion-dollar factory in Canada. Financially, Northvolt has secured more than $55 billion in customer orders and has raised a total of $9 billion in debt and equity since 2017. The company has previously issued convertible notes, including $1.1 billion last year, and continues to use convertible instruments as it prepares for future milestones. Northvolt is a Stockholm-based maker of sustainable lithium-ion batteries. The company produces cells at a Sweden gigafactory, having produced its first battery cell just before 2022 and making first commercial deliveries in spring of this year. Its core product is sustainable lithium-ion battery cells intended to supply decarbonization efforts. Financially, Northvolt has secured close to $8 billion in equity and debt to support its expansion. The latest financing is a $1.1 billion convertible note, following approximately $2.75 billion in equity funding announced about a year earlier. The company says the capital will support plans to establish a supply of sustainable batteries to enable the decarbonization of society. CEO Peter Carlsson said the company is thankful for investor support and will work to deliver on its promise to build the world’s greenest battery.