Participated · Equity · Feb 2026

Axelera AI is a European semiconductor company designing next-generation AI accelerators optimized for energy-efficient inference at the edge. Its Europa and Metis platforms combine custom chips with tightly integrated software, enabling customers to run AI workloads locally within strict power and thermal envelopes while preserving data privacy. The firm has shipped hardware to more than 500 customers across sectors such as defense, public safety, manufacturing, retail, agritech, robotics and security, demonstrating early commercial traction. Axelera’s edge-first architecture tackles escalating energy and cooling constraints that limit conventional data-center AI deployments, positioning the company for the projected $250 billion inference market by 2030. To drive adoption, Axelera operates a Partner Accelerator Network that unites software vendors, model makers, system integrators and solution providers, and it offers the Voyager SDK for easy workflow integration. The new capital will scale manufacturing through TSMC and Samsung, expand customer-success and ecosystem programs, and advance its software tools. Including the latest round, Axelera AI has attracted over $450 million in equity, grants and venture debt since its July 2021 incorporation, making it the most heavily funded AI chip startup in the EU.

Led · Equity · Dec 2025

Gonka is a blockchain-based network purpose-built to deliver high-efficiency AI compute by allowing anyone with hardware—from a single GPU to a full data center—to contribute capacity directly to AI workloads. Unlike typical proof-of-stake systems that waste most GPU cycles on consensus, Gonka’s proof-of-work design routes nearly 100% of contributed power toward productive tasks. Launched in August 2025, the network already aggregates performance equivalent to more than 6,000 NVIDIA H100 GPUs after only three months of operation. Governance is fully on-chain; a 120 million GNK community pool (12% of lifetime supply) manages treasury decisions, ensuring no single entity can control the protocol’s evolution. The project was incubated by U.S. software company Product Science, whose founders include the Liberman siblings. Gonka generates native-token rewards (GNK) for compute providers and offers permissionless access to researchers, builders, and enterprises needing scalable AI infrastructure. The company’s balance sheet has been bolstered by a recent $50 million strategic investment from Bitfury, providing significant runway to expand the protocol and ecosystem.

Participated · Safe · Oct 2019

NuCypher develops encryption services based on proxy re-encryption, enabling files to be encrypted to many recipients while allowing administrators to grant and revoke access. The company launched a public testnet and has said it is nearing mainnet launch. NuCypher has adopted a token model to decentralize infrastructure: node operators will run the software, earn tokens via new emissions and network fees, and staking operators such as Bison Trails, Grassfed Networks and Staked are already running nodes. The protocol uses an initial ERC-20 token supply of 1 billion with token economics that include inflation diminishing over time as fees grow. NuCypher has also announced a WorkLock distribution (users put ETH into a smart contract to receive tokens, with ETH burned unless tokens are staked) and plans to designate roughly 250–400 million tokens for that program. To foster app development it ran a hackathon with CoinList and several MVPs are live, including Stridon, Snowden and NuBox. NuCypher builds a proxy re-encryption layer that lets enterprises process sensitive data across distributed big‑data platforms (Hadoop, Kafka, Spark) without exposing encryption keys. The team pivoted from an encrypted database to a generalized encryption SDK and library and today is launching an open‑source release. It is running pilot deployments with major banks (about six to seven pilots) and is seeing early traction in healthcare and telcos. The product integrates with hardware security modules and NIST‑standard crypto so customers can keep existing algorithms like AES‑256. NuCypher licenses its software (term‑based subscriptions and a consumption model for cloud deployments) and does not host customer data. The company is small (two founders and seven people) and plans to expand pilots into high double‑digit or low triple‑digit customers while broadening supported platforms in future.

Led · Equity · Dec 2017

Moeco is a Berlin developer of a service platform designed to let clients deploy city-scale IoT networks with blockchain. The platform is positioned for urban IoT deployments and emphasizes blockchain as part of its architecture. The company was founded by Russian entrepreneur Dmitry Gorilovsky, a former Yota employee and one of the participants in the YotaPhone project. In July 2020 Moeco received a $1M investment reported by TMT Investments. The article does not provide operating metrics, product roadmaps, or additional financial details. Moeco is a Hong Kong–based blockchain platform with offices in Berlin and San Francisco that crowdsources IoT connectivity by using smartphones' integrated Bluetooth LE to create a mesh of proximity-activated IoT hotspots. Its network encrypts data end-to-end, and the company says Bluetooth LE prevents sensors from collecting user data. Moeco has a regional partnership with UAE voice and chat app Yzerchat to roll out a library that will turn Bluetooth-enabled devices with the app into IoT hotspots, with Dubai planned as the first test market. The startup says its approach can reduce IoT costs by up to 30x and enable more fine-grained sensor data for retail, transportation, smart city, infrastructure, and smart buildings. Competitors cited in the article include IoT-Narrowband, Sigfox, and Helium. Moeco recently raised $5M from the Bitfury Group.

Participated · Series A · May 2017

RSK Labs develops Rootstock (RSK), a two-way pegged sidechain that grafts Turing-complete smart contract functionality onto Bitcoin and issues smartBTC pegged 1:1 to bitcoin. The platform relies on merge-mining rather than creating a separate token and adds an off-chain protocol for near-instant payments. RSK currently reports ~400 payment transactions per second and aims to reach 2,000 tps using a second-layer Lumino solution. The company opened its Ginger production testnet to the public to enable broader developer testing. Financially, RSK raised $1.0m in seed funding a little over a year earlier and announced an additional $3.5m in pre-Series A contributions to fund R&D, security hardening and mainnet deployment. RSK is Buenos Aires–based and says its network is already supported by miners representing more than 55% of Bitcoin's hashing power, with another ~30% having expressed intent to join merge-mining. RSK Labs, based in Buenos Aires, Argentina, develops RootStock, a smart-contract platform with a two-way peg to the Bitcoin blockchain. The platform is secured by Bitcoin and is compatible with Ethereum. The company completed a $1M seed funding round to further develop the platform and expand its presence from Latin America to Asia, Europe and the US. RSK plans to open a private testnet by the end of April to a small number of miners, partner companies and users. In the following months wallets, block explorers and further network enhancements will be implemented by the company and its partners. A functional beta testnet is expected to be launched in September 2016.