The Venture Codex

Participated · Series C · Jun 2026

Founded in 2023, Dream develops sovereign AI and cyber defense platforms for governments and critical infrastructure and operates from offices in Tel Aviv, Abu Dhabi, and Vienna. The company has three core platforms: Sphere, a national cyber defense system combining cyber intelligence, exposure management, attack path analysis, and AI detection and response; Hero, an autonomous AI security researcher that discovers vulnerabilities and stress-tests defenses; and Atlas, a sovereign AI platform that connects fragmented national data and enables deployment of mission-specific AI agents and models within secure government environments. Dream began commercial operations in late 2024 and has secured nearly $300 million in total contract value since then. The company employs approximately 350 people. After the latest $260 million round Dream is valued at $3 billion and has raised $412 million to date, and plans to use the new capital to accelerate global deployment of its platforms across multiple regions.

Participated · Series A · May 2026

OurSky merged with PlaneWave Instruments in February 2025 to create Observable Space, a vertically integrated hardware-and-software space company building laser communications ground stations, ground-based sensing systems, and in-space optical payloads. Observable Space operates facilities in Los Angeles and Michigan and plans to scale manufacturing in Detroit as it raises production capacity. The company announced a $90M Series A to support production growth and international expansion. It has also secured an IDIQ contract from the U.S. Space Force worth up to $94M, with $22M in initial task orders awarded. Observable Space plans to send its compact Iguana in-space imager into orbit this year aboard an Apex Space satellite bus; the system is offered to customers with about eight weeks’ lead time. Leadership has stated the merged company aims to provide real-time orbital insights by combining hardware and software into a single offering.

Led · Seed · Jan 2026

GIGR is a San Francisco startup developing Playad, an AI-driven creative workflow launched in Q3 2025 that applies cooperating marketing agents to the entire ad-making lifecycle—briefing, production, experimentation, measurement and iteration. The system’s first focus is interactive ads for gaming, where granular user actions such as taps and swipes provide rich feedback loops that feed Playad’s rapid A/B testing engine. By automating creative iteration, customers report up to 90 % reductions in production cost alongside improvements in acquisition efficiency. The platform is designed to expand beyond playables to encompass image and video formats within the same workflow, positioning GIGR as a broader AI-native creative platform. A seven-founder team with backgrounds at Bagelcode, Devsisters, PlayStation, YouTube and top universities drives the product. To finance development and go-to-market, the company has secured $5.4 million in pre-seed funding. No revenue or user numbers for GIGR have been disclosed to date.

Participated · Seed · Jun 2025

Spekter Games publishes high‑quality, roguelite mobile games augmented with passive Web3 incentives designed to avoid disrupting core gameplay. Its debut title, Spekter Agency, is a rogue‑lite action game launching on Telegram’s Mini Apps, leveraging Telegram’s built‑in wallet and 1B+ monthly active users for frictionless onboarding. The studio emphasizes traditional free‑to‑play monetization (IAP) while layering passive blockchain rewards to boost retention, virality, and loyalty. The company plans to scale Spekter Agency to other chat‑based super apps and traditional mobile stores such as the App Store and Google Play. Capital from the recent raise will also fund development of a second game already underway. Spekter is led by founder Taehoon Kim (TK), an industry veteran with 20+ years’ experience and prior exits, including leading nWay to 100M+ downloads.

Participated · Series B · Jul 2024

Subtle Medical builds vendor-neutral, AI-powered imaging software designed to operate across existing MRI, PET and CT scanners regardless of manufacturer. Its portfolio includes 11 FDA-cleared software products and its technology is deployed on more than 1,300 scanners globally. The company is developing an AI Imaging Hub intended to help providers manage imaging performance across modalities and scanner fleets. Subtle Medical has been recognized by TIME and by CB Insights on multiple industry lists. Financially, the company has raised a total of $86 million following a $33 million growth financing led by Morgan Stanley Expansion Capital. The company plans to use the new capital to accelerate product development and commercial expansion in the U.S. and international markets.