Participated · Equity · Mar 2024

Sealed is a residential energy efficiency startup based in New York that provides software and solutions to contractors to accelerate home weatherization and electrification projects. The company recently launched Sealed Pro, a software platform focused on accelerating home energy improvement and electrification projects and initially focused on securing rebates for contractors. Its product suite includes a one-stop rebate solution, investment-grade energy savings predictions, customer qualification and education tools, and data and analytics for contractors. Sealed also acts as an aggregator for utility and government incentives, handling rebate processing and payments on behalf of contractors and enabling participation in measured savings and Virtual Power Plant (VPP) programs. The company raised $30M in funding and is using the proceeds to expand operations and development efforts. Sealed is led by co-founder and CEO Lauren Salz. Sealed provides end-to-end design, management, and financing of home weatherization and electrification upgrades, including insulation, air sealing, smart thermostats, lighting, and heat pump HVAC. After a remote home assessment Sealed prescribes the right combination of improvements and covers upfront costs, with a payment program based on actual energy reductions so the company is accountable for impact. The company says resulting efficiencies can cut energy use by as much as 50% and enable taking homes completely off fossil fuels. Sealed grew 350% from 2020 to 2021 and has expanded beyond New York State into Connecticut, New Jersey, the Philadelphia metro area and recently the Chicago metro area as it pursues national expansion. Management says surging homeowner interest positions the company to scale to millions of American homes. Sealed was founded in 2012 and is based in New York City. Sealed is an NYC-based home wellness company that empowers home heating and cooling with upgrades such as insulation and HVAC technology. The service matches homeowners with the right contractor, covers upfront costs, and gets paid if a house saves energy. Its performance-based financing is built on a patent-pending machine learning algorithm that uses real usage and consumption data to predict energy use and savings. Founded in 2012 by Lauren Salz (CEO) and Andy Frank (president), Sealed has partnerships with all major New York utilities, including Con Edison, Orange and Rockland Utilities, National Fuel Gas, Central Hudson Utilities, NYSEG and RG&E. The company intends to use the funds to accelerate nationwide expansion, beginning with launches in New Jersey and Connecticut and additional market entries over the next year focused on areas with older homes and extreme weather. Greg Smithies of Fifth Wall joined Sealed's board as part of the financing.

Participated · Series A · Sep 2022

TeraWatt Infrastructure builds and owns fleet-focused EV charging centers and a charging-focused property portfolio, combining asset financing, project development, and charging and energy management expertise. The company acquires properties in locations strategically relevant to fleets and develops the energy and charging infrastructure necessary to operate at scale. Its Charging Centers offer reservable, reliable space and high-power charging for light, medium, and heavy-duty commercial fleets across metro areas, logistics hubs, and key highway corridors. TeraWatt launched out of stealth in May 2021 and is led by co-founder and CEO Neha Palmer. The company has attracted increased commitments from existing investors and new institutional capital to support growth. TeraWatt secured more than $1 billion in committed capital to accelerate its portfolio buildout and hire talent to support expansion.

Participated · Series A · Sep 2022

Terawatt operates what it describes as the nation’s largest network of purpose‑built AV and commercial EV charging sites and counts leading AV rideshare companies and heavy‑duty fleets among its customers. The company owns and operates every layer of the charging infrastructure stack, including real estate, power, chargers, power management software, and charging operations. Terawatt converts high capital expenditures for fleet operators into a streamlined operating expense and emphasizes high uptime charging operations. The new bank facility will accelerate the company’s acquisition and development of additional depots across the U.S. Terawatt announced the financing from its San Francisco headquarters; no prior funding rounds or revenue figures were disclosed in the announcement.

Participated · Series A · Mar 2021

Aero operates premium, custom-designed 16-seat aircraft that fly direct between private terminals, targeting premium leisure travelers. Led by CEO Uma Subramanian, the company provides personalized Concierge services from booking to touchdown and markets a distinctive fleet of black planes. In the U.S. its flights run as public charters operated by its wholly owned subsidiary USAC Airways 695 LLC (FAA Air Carrier Certificate 5U5A029Q), and Aero acts as both public charter operator and indirect air carrier under DOT Part 380. The company serves curated destinations across the U.S. and Europe, enriching the guest experience at private terminals. Current routes include Aspen, Los Cabos and Sun Valley from Los Angeles (Van Nuys) and San Francisco (SFO), and Ibiza, Mykonos and Nice from London’s Farnborough Airport. Aero intends to use new funding to drive global market expansion and to address increased demand on existing routes. Aero offers "semi-private" air travel that flies out of private terminals on small, spacious planes retrofitted from 37 seats down to 16 and supported by a concierge team. The company currently operates a single route between Los Angeles and Aspen with one-way tickets priced at $1,250. CEO Uma Subramanian said Aero sold a lot of seats after borders reopened and was gross margin positive in July and August. Aero ran test flights between Mykonos and Ibiza prior to the pandemic and began offering flights as travel resumed. The startup is backed by Garrett Camp’s startup studio Expa. Management plans to use new funding to grow the team, add more flights, launch a Los Angeles–Cabo San Lucas route in April, and return to Europe later in the year. Aero is a premium air travel startup that matches travelers heading to the same destination onto direct flights into and out of private airports, aiming to offer private-jet luxury for less than commercial first class. The company emphasizes a luxurious, social in-flight experience and the ability for customers to skip airport security. It ran test flights this summer in partnership with a European air carrier between Mykonos and Ibiza and plans to start selling tickets to Telluride and La Paz next month. Aero is developing a mobile-first booking and ticketing system to support its service. The startup has raised $16 million in funding and is backed by Garrett Camp’s startup studio Expa, with additional investment from GGV Capital. A company spokesperson said customers skew toward millennial and Gen Z, experience-driven travelers.

Participated · Series A · Mar 2021

Aero Technologies is a next-generation, semi-private leisure airline operating limited routes in the U.S. and Europe. It operates small jets—16-seat Embraer 135 regional aircraft and 13-seat Legacy 600 planes—using private terminals and seasonal, demand-driven schedules focused on leisure travel. Routes include U.S. service from Los Angeles and San Francisco to destinations such as Aspen, Los Cabos and Sun Valley, and European flights from a London base to Ibiza, Mykonos and Nice. Average fares across the network are about $1,700 (one-way San Francisco to Los Cabos ≈ $2,300), positioning the product between first-class and private-jet charters. The company plans to expand its fleet and enter new markets with the new funding; because it tends to own its jets, fleet expansion is a primary capital expense but also enables rapid route changes. Aero has seen recent growth in Europe, drives acquisition via word-of-mouth and partnerships with high-end member clubs and hotels, and uses a model of nightly returns to base to attract pilots. Aero Technologies operates a next-generation premium air travel service offering premium seats on direct flights between private terminals using custom-designed 16-seat aircraft. Led by CEO Uma Subramanian, the company runs all U.S. flights as public charters through its wholly owned subsidiary USAC Airways 695 LLC (FAA Air Carrier Certificate 5U5A029Q). The company is San Francisco, CA-based. Its business model focuses on point-to-point premium service from private terminals rather than traditional commercial hubs. Aero raised a $20M Series A to fund growth and to propel future flight paths in the U.S. The round brought the company’s total funding to date to $50M.