Participated · Series C · Jul 2024

Hayden AI Technologies provides a vision AI platform that leverages geospatial data-collection sensor systems to deliver actionable urban intelligence. The platform can be mounted on virtually any vehicle to detect and enforce parking and moving violations, monitor city assets, predict congestion, and optimize transportation networks. Hayden AI is used by major transit agencies including New York’s MTA, Washington DC’s Metro, Los Angeles Metro, and AC Transit. The company cites measurable impacts in New York City: 5% faster buses on enforced routes, 20% fewer vehicle collisions, and an estimated 5–10% reduction in greenhouse gas emissions tied to automated camera enforcement. Hayden AI plans to use new capital to accelerate R&D, develop its platform into a broader urban operating system, and expand into additional use cases and new cities domestically and internationally. The company has been recognized on the GovTech100 list for four consecutive years and named by TIME as one of America’s Top GreenTech Companies of 2024. Hayden AI Technologies deploys cameras on school buses and other vehicles to detect traffic violations via image analysis and immediately report violations with image data to relevant authorities. The core product targets enforcement of rules such as stopping for school buses and parking infringements, enabling more efficient enforcement and improved urban traffic safety. The company also offers a traffic volume forecasting solution that leverages accumulated image data. Hayden plans to develop that forecasting capability into an urban traffic optimization platform to pitch to major U.S. cities. Mitsubishi Electric’s ME Innovation Fund has invested in Hayden AI and the companies are collaborating on a digital twin initiative. The digital twin effort aims to collect real-time image data to run highly reproducible simulations and predict traffic accidents and changes in traffic conditions. Hayden AI builds an AI/ML-powered platform and proprietary vehicle-mounted hardware that delivers geospatial intelligence and analytics for governments and businesses. Its system is deployed on commercial, fleet, and passenger vehicles to capture data used for traffic enforcement and operational optimization. Current deployments enable enforcement of violations that obstruct transit buses and supply data to improve transit ridership, traffic efficiency, and road safety. Use cases highlighted include bus lane and bus stop enforcement as well as digital twin modeling. The company frames its mission as helping cities deliver safer, smarter, and more sustainable mobility and public services. Hayden AI is headquartered in San Francisco. Hayden AI provides an autonomous traffic-management platform that combines mobile sensors with artificial intelligence to help governments monitor and enforce traffic and curbside regulations. The company partners with government agencies and converts public and private vehicle fleets into spatially aware sensors via its digital platform. Its system fuses IoT sensor data to create a real-time digital twin of roads and curbsides, generating insights to improve traffic flow, parking, and curbside management. The company raised a $20M Series A, bringing total funding to over $30M. Hayden AI plans to expand nationally and internationally and to accelerate hiring across R&D, cybersecurity, and customer support. Looking ahead, the company is pursuing integration with autonomous vehicles by embedding traffic enforcement rules into HD maps. It intends to partner with mapping companies so semantically annotated policy layers help self-driving vehicles automatically comply with city traffic laws. Hayden AI Technologies develops AI-powered smart-city solutions that combine mobile sensors with artificial intelligence to support safer streets, equitable transportation, and efficient urban mobility. Led by co-founder and CEO Chris Carson, the company partners with public transportation and mobility providers to deploy automated traffic law enforcement systems. It recently partnered with Conduent Transportation to deliver an automated bus lane enforcement solution using a transit bus-mounted perception system integrated with video analytics and violation processing. The platform also leverages sensor data and digital twin technology to simulate scenarios and generate actionable insights on hazardous driving areas, parking management, traffic patterns, and curbside management. The company intends to use the new funds to accelerate development and delivery of its AI-powered solutions. Financially, Hayden AI closed a $4.5M round, bringing total funding to $9.5M including a $5M seed round raised the prior year.

Led · Series D · Jul 2022

SOURCE Global develops and sells SOURCE® Hydropanels, a solar-powered, air-to-water technology that creates mineralized drinking water from sunlight and ambient air. The Hydropanel system is programmable, distributed, infrastructure-free, and fully digitized, operating off-grid with built-in sensors and cloud-based 24-hour monitoring. Panels scale from small arrays to multi-thousand-panel water farms serving communities, businesses, and sustainable bottling operations, and function in a variety of climates including low-humidity locations. SOURCE says its technology addresses large unmet need for climate-resilient, sustainable drinking water and aims to reduce the impacts of extracting, treating, bottling, and transporting water. The company operates in more than 50 countries and is a public benefit corporation headquartered in Scottsdale, Arizona. SOURCE plans to further scale its commercial, community, and consumer offerings globally and to accelerate innovation in advanced renewable water technologies. Zero Mass Water develops SOURCE Hydropanels that create safe, mineralized drinking water from sunlight and atmospheric moisture. The solar-powered panels ozonate and store purified water and can be deployed in arrays from single-residence to community-scale installations. SOURCE systems are already installed in 45 countries. The company plans to scale global installations and launch direct-to-consumer initiatives, including residential panel installations beyond North America. The recent financing will be used to accelerate innovation and advanced renewable water technologies. Zero Mass Water is headquartered in Scottsdale, Arizona.

Participated · Equity · May 2022

Arcadia operates a utility data platform and manages a community solar program that unlocks energy data for businesses. Its platform is used to power solutions aimed at electrification and decarbonization. The company plans to use the recent financing to grow its community solar program and to invest in product innovation leveraging AI to enable new use cases built on its trove of energy data. Financially, Arcadia raised $50M in equity and concurrently closed a $30M credit facility with J.P. Morgan, and it amended an existing facility with TriplePoint Capital to lower its cost of capital. Macquarie Asset Management joined as a new equity investor alongside a group of existing backers. Founded in 2014 and led by CEO and founder Kiran Bhatraju, Arcadia is based in Washington, D.C. Arcadia builds the Arc platform, which unlocks energy data and exposes APIs so companies can build climate tech products and act on their environmental impact. The platform is used by over 300 new energy companies to personalize energy products and generate auditable carbon accounting reports, optimize EV charging schedules, create rooftop solar and storage proposals, and deliver community solar savings on a single bill. Led by founder and CEO Kiran Bhatraju, Arcadia focuses on enabling a zero-carbon economy through data-driven energy products. The company raised $125M to support continued development of the Arc platform and to accelerate its community solar business. Eric Scheyer of Magnetar will join Arcadia’s board as part of the financing. Arcadia is headquartered in Washington, DC. Arcadia operates the Arc data and API platform that supplies easy-to-use utility data, clean energy, and developer APIs to companies building climate and energy products. The company says its platform helps customers monitor, report, and act on their carbon impact and removes barriers around access to comprehensive utility data. Arcadia will use the new funding to expand data coverage — including commercial utility data — and to accelerate new product development and use cases. More than 100 innovators, including Ford, EnelX, Aurora Solar, and STEM, use Arc APIs across verticals such as EVs, solar, storage, and smart-home IoT. Recent momentum includes 155% year-over-year organic revenue growth in 2021, the November launch of the Arc platform, and passing a 700MW managed milestone as a leading manager of community solar in the U.S. The company has also added senior product and board hires as it scales the platform. Arcadia operates a platform that provides access to energy data and manages renewable energy programs, including the nation’s largest community solar subscriber portfolio. The company says the Arcadia Platform accesses more than 80 percent of U.S. electric utility accounts nationwide and manages a community solar portfolio expanded to 500 megawatts. Arcadia has pursued growth by acquiring Real Simple Energy and Nanogrid and by expanding product capabilities across new verticals such as electric vehicles and distributed energy resources. The company strengthened its executive team with hires including CFO John Rucker and Chief Data Officer Nancy Hersh. Arcadia plans to use new capital to accelerate its technology roadmap, scale its community solar offerings across residential and business sectors, attract talent, and broaden its product scope to make renewables more accessible and affordable. The company frames its work as enabling a decentralized, decarbonized power grid and advancing a 100 percent clean energy vision. Arcadia provides software that aggregates, analyzes, and packages a variety of energy options for residential utility customers, enabling access to community solar, wind, and virtual power purchase products. The company acts as a community solar manager and broker, connecting developers with buyers rather than financing or building projects itself. Arcadia reports hundreds of thousands of customers and finances hundreds of megawatts of community solar for developer partners. It is considered the country’s largest residential broker for retail electricity providers in competitive markets, with over $200 million in utility payments to date. The company currently serves customers in New York, Maryland, Rhode Island, and Washington, D.C., and plans expansion to Illinois, New Jersey, Colorado, and Massachusetts next year. Arcadia plans to release new energy subscription models in 2020 and expand financing options for in-home devices such as smart thermostats and LED lighting.

Participated · Series B · Mar 2022

Mori uses a proprietary process that extracts natural silk protein with just salt, water, and heat to create a consumable coating that protects food and slows spoilage. The treatment is designed to integrate seamlessly into existing production processes with minimal or no additional capital expenditure. The technology is broadly applicable across fresh and shelf-stable food categories and, after extensive testing and trials with initial customers, Mori will soon launch its first commercial products in multiple segments. The company recently opened a silk protein manufacturing facility and moved its headquarters to Boston. Mori holds 25 granted patents, 35 utility applications, and trade secrets worldwide; Mori Silk™ is a dietary protein consumable in the USA, Mexico, and Costa Rica and listed as a Non-Novel and Traditional food ingredient in countries including Canada, Japan, and South Korea. Mori announced a $50 million Series B1 financing to support commercialization, product development, and geographic expansion. Mori uses a proprietary process that extracts protein from silk using just salt, water, and heat to form an all-natural, edible protective layer that can be applied to fresh and shelf-stable foods. The coating is designed to be undetectable, extend shelf life, add supply-chain flexibility, and reduce both food and packaging waste. Mori positions its technology for integration at any point from farm to shelf to help producers, processors, and retailers reach new markets and improve food access. The company emphasizes sustainability and equitable food access as core benefits of its solutions. Mori holds a substantial intellectual property portfolio—21 issued patents and 27 patent applications—backed by trade secrets worldwide. The company plans to use new funding to accelerate commercialization across categories and geographies, expand its product development pipeline, and bring multiple manufacturing streams online by the end of the year. Mori (formerly Cambridge Crops) extracts protein from Bombyx mori silk using a water- and salt-based process to form a natural, edible protective barrier applicable to whole and cut produce, meat, fish, and processed goods. The silk protein coating helps prevent oxidation, improve water retention, and slow microbial growth, which extends shelf life across multiple stages of the supply chain. The company has obtained Self-Designated GRAS status from an expert panel for its silk proteins, with further FDA and USDA certifications expected. Mori’s technology is protected by about 20 patents, 25 patent applications, and numerous trade secrets worldwide. The firm intends to scale manufacturing capabilities and pursue commercial partnerships across multiple food categories to reduce food waste and improve freight and market access. Mori is based in Boston, Massachusetts. Cambridge Crops develops a silk-powered, edible protective coating that slows gas exchange, prevents oxidation, improves water retention, and slows microbial growth to extend food shelf life. The solution is made from a protein extracted from silk via a water-based process and forms an imperceivable, tasteless layer when applied to food surfaces. The technology originated in Professor Fiorenzo Omenetto’s silk lab at Tufts and was co-invented with MIT Professor Benedetto Marelli. The coating has demonstrated efficacy across whole and cut produce, meat, fish, and other food products and can be integrated at wash or coating stations in the supply chain. Cambridge Crops intends to use the funding to complete FDA and USDA regulatory milestones, invest in production scale-up, and continue developing commercial partnerships in the food and agriculture industry. The company is based in Somerville, Massachusetts.