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The Venture Codex

Delphi Ventures

160 Bovet Rd Ste 408, San Mateo, California, 94402, United States

Overview

Delphi Ventures is a venture capital firm that has focused on investing in biotechnology and medical devices for over two decades. With more than $1.1 billion in committed capital, Delphi Ventures has funded over 170 companies. More than 110 of our portfolio companies have either completed an initial public offering or have been acquired by a leading healthcare corporation.

Total investments
73
Lead investments
20
Investments · 12mo
4
Active investors
6

Sector focus

  • Biotechnology
  • Finance
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Investment portfolio

  • GenFlux

    Participated · Seed · Feb 2026

    Flux positions itself as the world’s first “AI hardware engineer,” using models trained on hundreds of thousands of real-world circuit designs to let users create electronics through plain-language prompts. Within the web interface, the system drafts PCB layouts, identifies and prices components, runs validation tests, and produces ready-to-manufacture files, while also flagging cost-saving measures and supply-chain work-arounds. The company’s value proposition is to collapse the cost and complexity of hardware design so that individuals and small teams can build bespoke devices as easily as software. More than one million makers and entrepreneurs have already used Flux to design roughly 6.5 million devices spanning wearables, drones, smart-home controllers, industrial IoT tools, and organ-on-chip platforms. By reducing engineering overhead to near zero, CEO Matthias Wagner believes Flux can unlock a long-tail market for custom electronics. The platform seeks to make hardware iteration feel more like app prototyping than traditional manufacturing.

  • ORO AI

    Led · Seed · Dec 2025

    ORO AI is developing a cryptography-driven data exchange layer where individuals can safely contribute their data for artificial-intelligence training while retaining privacy and earning rewards. The protocol relies on zero-knowledge (zk) cryptography to guarantee that raw data remain hidden while still verifiable for model improvement. By positioning itself as an infrastructure layer, ORO AI aims to power end-to-end decentralized AI pipelines, providing data provenance, contributor incentives and cross-chain compatibility. Backing from NEAR Protocol signals plans to deploy on scalable Layer-1 environments, while partnerships with 0G Labs point toward high-throughput compute orchestration. Investor networks such as Orange DAO and Ocular are expected to drive early developer and user adoption, particularly in emerging Web3 markets. Although the company has not disclosed revenue, user numbers or launch timing, the freshly raised seed capital is intended to fund protocol development, go-to-market efforts and further research in zk cryptography.

  • 375ai

    Led · Equity · Oct 2025

    Founded in 2022, Los Angeles-based 375ai deploys AI-powered 375edge devices—combining HD cameras, audio and environmental sensors with NVIDIA Jetson compute—to process raw data locally and deliver structured intelligence in real time. Each device compresses roughly 1 TB of daily input into just 35 MB of usable insights, a 26,000× reduction that lowers bandwidth costs and preserves privacy. The network already observes 1.5 million vehicles per day through high-value sites obtained via a partnership with Outfront Media, serving customers in advertising, logistics, public safety and urban planning. Current live deployments span Los Angeles, with roll-outs underway in New York and Miami and international expansion slated for 2026. 375ai positions itself as core infrastructure for “physical AI,” enabling smarter mobility systems, safer streets and more efficient autonomous operations. The company is led by CEO Harry Dewhirst and a team with prior experience at Juniper Networks, Palo Alto Networks, Fortinet and other telecom and security firms. To date, the startup has raised $10 million in equity funding, including its latest $5 million infusion that will fund denser network coverage and continued product development.

  • Sophont

    Participated · Seed · Sep 2025

    Sophont develops multimodal medical foundation models trained on large amounts of unlabeled clinical data to reason across diverse modalities such as pathology slides, brain scans, clinical notes, and lab results. The company is positioning itself as a medical AI infrastructure provider and plans to release state-of-the-art model backbones later this year to enable med-tech companies and pharmaceutical R&D teams to fine-tune models. Initial use cases mentioned include symptom triage, biomarker discovery, and patient selection for clinical trials. Sophont was built in partnership with academics, clinicians, and the broader machine learning community and publishes open-source medical AI research in venues including Nature Biomedical Engineering, NeurIPS, and ICML. Founders include CEO Tanishq Abraham and CTO Paul Scotti, who bring prior roles at Stability AI and academic experience. The company says it will use the new funding to expand its research team, accelerate model development, and launch pilot programs with healthcare institutions, healthtech companies, and pharmaceutical companies.

  • Gunzilla Games

    Led · Equity · Sep 2024

    Gunzilla Games is the studio behind the battle royale Off The Grid (OTG) and operates a gamer-first ecosystem and blockchain platform called GUNZ. The company pairs game development with a blockchain layer intended to support its gaming ecosystem. The team framed the recent investment as a sign of confidence in both Off The Grid and the broader GUNZ platform. The article notes Delphi Ventures — described as a crypto venture capital firm and a leading Web3 gaming fund — has taken on a prominent operational role. As part of the announcement, Delphi became the largest Gunzilla Validator Node operator through its investment. The article does not disclose revenue, user counts, or other financial metrics. Gunzilla Games is an independent AAA developer working on the cyberpunk-style battle royale third-person shooter Off The Grid and a blockchain-based digital-economy platform called GUNZ. The company operates from Frankfurt (HQ), with teams in Los Angeles and Kyiv, and was founded in 2020 by Vlad Korolov and Alexander Zoll. GUNZ is live as an Avalanche Subnet customised for high-speed gameplay and streamlined gas payments using its native token, enabling tradable NFT ownership of in-game items. Off The Grid is set to release on PC, PlayStation and Xbox and will deploy complete asset ownership and a player-driven in-game economy across seasons. Gunzilla says proceeds will fund the game launch and the initial wave of post-release content for the rest of the year. The team includes talent from studios such as Ubisoft, Electronic Arts and THQ. The announcement follows a previous funding round over a year earlier that raised €44.9M led by Republic Capital. Gunzilla Games is an independent AAA developer that announced a new platform, GunZ, to enable players to own and trade in-game possessions. The company said trading will be handled via an internal blockchain-based marketplace or any third-party marketplace that supports NFT technology. Two months before the funding, Gunzilla unveiled Off The Grid (OTG), a AAA Battle Royale 2.0 third-person shooter set in a dystopian cyberpunk future. Founded in 2020 by Vlad Korolev and Alexander Zoll, the studio operates across Frankfurt, Los Angeles, and Kyiv. Gunzilla plans to use the recent funding to build the GunZ platform and integrate optional crypto components into its free-to-play offerings. Company leadership and its lead investor have framed the move as marrying crypto and gaming and enabling player ownership of in-game items.

Team