The Venture Codex

Participated · Series A · Feb 2026

DG Matrix’s core product, the Interport, is a solid-state transformer that acts like a power router, combining and distributing electricity from sources such as solar, batteries and the grid. Each Interport can handle up to 2.4 MW, replacing multiple legacy transformers and uninterruptible power supplies while shrinking space requirements from two large skids to a single four-by-four-foot unit. The device boosts overall conversion efficiency to 95-98% compared with 82-90% for traditional setups and reduces component count by as much as 85%, which the company says should increase reliability. Initial customer units are rolling out in June, and 90% of the sales pipeline targets data centers, with the remainder focused on fleet EV charging. DG Matrix is also developing a rack-level “sidecar” product and envisions deploying Interports in micro- and mini-grids for remote communities to alleviate energy poverty. Future expansion plans include broader building-power applications and larger grid-edge projects. The company’s financial footing was strengthened by a recent $60 million Series A round, its first disclosed institutional raise.

Led · Seed · Nov 2025

NexDash acquires established mid-sized trucking companies and transitions their diesel fleets to electric vehicles while operating them through its proprietary AI platform, NexOS. The startup is a spinout of Platform Horizons (P6N) and was founded by Michael Cassau, former founder and CEO of Grover. Its stated plan is to scale electrification fleet by fleet and route by route across Europe, beginning with its first acquisition, March Transporte in Rheinbach (NRW). The company is partnering with EIT Urban Mobility, which invested €2.5 million as a pre-Series A commitment to support expansion and conversion of fleets. NexDash aims to leverage the investor’s pan-European ecosystem to accelerate adoption of zero-emission freight and strengthen supply chain resilience. Financial metrics such as revenue or user counts were not disclosed in the reporting.

Participated · Series B · Sep 2025

Founded in 2021, OXCCU is developing proprietary catalysts and reactor designs that directly hydrogenate CO₂ to create hydrocarbon syncrude branded as OXFUEL, which can be refined into jet-fuel-grade SAF. Its single-step, iron-based Fischer-Tropsch process eliminates the RWGS stage and reduces hydrogen demand, promising lower capital and operating costs than competing e-fuel pathways. The company operates from Begbroke Science Park and London Oxford Airport, where its OX1 demonstration plant was validated in 2024. OXCCU is positioning OXFUEL to help the UK meet its target of 10% SAF in jet fuel by 2030 and is now researching how its fuel can limit non-CO₂ warming effects such as soot-induced contrail formation. Financially, the start-up secured €20.6 million of initial funding in June 2023, followed by a €23.7 million round in September 2025, and most recently obtained a €2 million grant from the ATI Non-CO₂ Programme. These funds support technology scale-up, commercial deployment and climate-impact validation, underscoring OXCCU’s emergence as a leading UK climate-tech innovator.

Participated · Equity · Jul 2025

Hertha Metals has developed a single-step, tunable pyrometallurgical process that converts low-grade iron ore, fines, and millscale directly into molten steel or 99.97%+ high-purity iron. The company has operated a continuous 1 tonne-per-day pilot plant since late 2024 and says the process is about 30% more energy efficient than conventional coal-based methods. Hertha’s furnace can run on natural gas or hydrogen (without hardware changes), cutting emissions by at least 50% on natural gas and enabling up to 98% reductions on hydrogen. The system is modular and designed to integrate into existing steel mills, allowing profitable operation at scales as small as 500,000 tonnes per year. Hertha says the technology unlocks low-purity domestic ore reserves and waste streams, reducing input costs and improving onshoring of steel and high-purity iron supply. The company has announced plans to break ground on a production facility in January 2026 to reach more than 9,000 tonnes per year initially and ultimately scale toward 500,000 tonnes per year of steel capacity. Hertha Metals develops a steelmaking process that the company says reduces emissions by 95% while remaining financially accessible. The company focuses on producing lower‑emission steel for the market. Hertha was founded in 2022 by Laureen Meroueh, a mechanical engineer and materials scientist. It is based in Conroe and is a member of Greentown Houston. Hertha was nominated by Greentown Labs and is participating in the inaugural cohort of the Breakthrough Energy Innovator Fellows. Recently the company received recognition and direct funding through Department of Energy programs.

Led · Series A · May 2025

Exterra Carbon Solutions develops proprietary processes (LOW™ and ROC™) to convert legacy mining waste into low‑carbon metal oxides, valuable by-products, and permanently mineralize CO2. The company’s commercialization strategy centers on its upcoming Hub I project, scheduled to begin construction in 2027 in Quebec, which will process over 300,000 tonnes of asbestos mine tailings annually and fully destroy remaining asbestos fibres. Exterra has de-risked its technologies through pre-commercial pilot operations in Val‑des‑Sources, Quebec. After Hub I’s inauguration, the company plans to integrate its technologies into larger-scale mining and mineral-processing applications internationally, including acid recycling and emissions mineralization. The business is led by CEO Olivier Dufresne and intends to use newly raised funds to accelerate integration of the mining industry into the circular economy. Financially, the company closed a CAD$20M Series A and has raised CAD$32M in total to date.