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The Venture Codex

E12

980 N. Michigan Ave. Ste 300, Chicago, IL, 60611, USA

Overview

E12 Ventures is a new venture capital firm ,subsidiary of Mitsui & Co., Ltd., and Morado Ventures LLC.

Total investments
7
Lead investments
0
Investments · 12mo
3
Active investors
3
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Investment portfolio

  • Archetype AI

    Participated · Series A · Nov 2025

    Archetype AI, based in Palo Alto and founded by former Google engineers, offers a full-stack Physical AI platform anchored by its Newton foundation model. Newton fuses multimodal sensor inputs, video, and contextual data to create ‘Physical Agents’ that understand and act on real-world environments. Using the company’s Agent Toolkit, enterprises can assemble, test, and deploy agents for applications such as process monitoring, task verification, and safety compliance, running in the cloud, on-premise, or at the edge. Early adopters like NTT DATA, Kajima, and the City of Bellevue report gains in efficiency, reduced downtime, and improved safety across warehouses, construction sites, and city streets. The platform is currently in beta, with broader feature rollouts planned in the coming months. Fresh capital will fund expansion of the toolkit, scaling of the platform, and continued R&D to extend Newton’s ability to interpret and manipulate the physical world. No revenue or user figures were disclosed, but the company partners with Fortune Global 500 brands across automotive, consumer electronics, logistics, and retail sectors.

  • Neura Health

    Participated · Series A · Sep 2025

    Neura Health operates a virtual neurology clinic aimed at improving access and quality of care for patients suffering from chronic neurological conditions such as migraine, sleep disorders, seizures, TBI, stroke, tremors, long COVID, and memory disorders. The platform combines tele-neurology visits with integrated symptom tracking, personalized educational content, and dedicated care coaching. Since launch, the company has treated more than 43,000 patients across the United States and partners with health systems like Sentara Health to extend neurology capacity. It is in-network with over 40 health plans, including Aetna, Blue Shield of California, Cigna, Anthem Blue Cross, TriWest, and Medicare, which broadens patient affordability and reach. Co-founded by Elizabeth Burstein and Sameer Madan, Neura Health plans to use new capital to scale operations and advance product development. The company has now raised a cumulative $22 million in venture funding, reflecting growing investor confidence in its tele-neurology approach. No revenue figures were disclosed in the article, but the patient volume and payer relationships indicate early commercial traction.

  • Telo Trucks

    Participated · Series A · Sep 2025

    Founded in 2022, Telo Trucks operates from a 10,000-square-foot facility in San Carlos, California, where it is engineering the MT1—an ultra-compact electric pickup designed for city streets. The vehicle seats five, offers a full five-foot bed, and targets an estimated 350-mile range from a 106 kWh battery, with a starting price near $41,000. Telo has accumulated roughly 12,000 pre-orders and plans to build about 5,000 units a year via contract manufacturing, emphasizing early unit profitability over large-scale output. The company will keep headcount near 25 employees, supplementing with consultants and contractors linked to its co-founder network. Series A proceeds will finalize the production-intent design, complete U.S. safety homologation and crash testing, and move toward first deliveries by the end of 2026. Co-founders include designer Yves Béhar and Tesla co-founder Marc Tarpenning, whose reputations bolster investor and industry interest.

  • Ellipsis Health

    Participated · Series A · Jun 2025

    Ellipsis Health is a San Francisco, CA–based AI healthcare technology company that developed Sage, an emotionally intelligent AI voice agent for care management and behavioral health monitoring. Sage is powered by the company’s patented Empathy Engine and is designed to expand provider capacity, streamline workflows, and elevate patient engagement. The company serves leading healthcare providers and payers, focusing on patients with complex physical, behavioral, and social needs that drive the majority of healthcare costs. Ellipsis plans to use new funding to accelerate Sage adoption across healthcare providers, payers, and care management organizations, enhance its AI capabilities, and deepen integration with clinical systems. The company was founded and is led by CEO Mainul Mondal. Financially, Ellipsis has secured a $45M Series A to support these product and go-to-market initiatives. Ellipsis Health, based in San Francisco, develops an AI-powered speech-based vital sign to quantify and manage stress, depression, and anxiety at scale. Its integrated behavioral health solution uses machine-learning algorithms and cloud-based deep learning models to assess patient speech and generate automated assessments for clinical decision support. The company helps healthcare providers and payers identify and stratify patient populations. Ellipsis intends to use the new funding to grow its customer base, expand global partnerships, build a multidisciplinary team, and continue research and development of voice-based technology. It also plans to expand its voice vital sign to address the mental health of children and adolescents. Financially, the company raised a $26M Series A that brought total funding to $31M.

  • First Resonance

    Participated · Equity · Dec 2024

    First Resonance develops ION Factory OS, a platform that introduces efficiency, responsiveness, and sustainability to manufacturing operations. The company plans to deepen customer support, enhance platform reliability, and continue product innovation. It will launch the ION Marketplace to enable developers and integration partners to build digital solutions on ION Factory OS; launch partners Silkline, Hadrian, and Duro are already offering solutions. First Resonance is expanding its network of integration partners to bring digital solutions to a broader set of manufacturers and embedding AI-driven manufacturing workflows into daily operations. The platform has seen rapid adoption across various industries and is being used by companies advancing toward FAA certification for electric aircraft as well as established firms like Blue Canyon Technologies and Radiant Nuclear. The company was founded in 2019 and reports growing customer traction and strategic partnerships with both startups and Fortune 500 companies. First Resonance is a Los Angeles, CA-based manufacturing software startup led by co-founder and CEO Karan Talati. Its core product is ION Factory OS, a discrete manufacturing platform that provides a digital thread to connect day-to-day operations, production, supply chain procurement, and quality workflows. The platform includes ION Analytics, which gives decision-makers real-time visibility into manufacturing-process problems to enable faster iteration and time to market. First Resonance serves companies building complex hardware across industries, including spacecraft, power plants, and robots. The company says ION helps remove barriers by improving collaboration, freeing information flow, and delivering data-driven insights that improve quality and accelerate delivery. It intends to use proceeds from a recent investment to accelerate growth and development of ION Factory OS; financial details and operating metrics were not disclosed in the article. First Resonance’s Ion platform provides an all-in-one OS to manage manufacturing lines, supply chains, engineering and design for hardware companies. Founded by a team of former SpaceX engineers and led by CEO Karan Talati, the company applies SpaceX-style part and process tracking to other hardware industries. Ion offers automated, granular tracking of parts (serial and lot level) across purchasing, receiving, installation and servicing to surface actionable insights. The platform has grown from 15 customers at the end of 2020 to about twice that number now, with customers including Joby Aviation, Reliable Robotics and Astranis. First Resonance plans to scale its go-to-market team and continue product evolution, including integrating more sources of data into intelligence streams and expanding its SDK to support more factories and hardware types. The company recently raised new funding to support that growth and product work. First Resonance develops Ion, a factory-management and inventory software that automates and streamlines manufacturing workflows for aerospace and other advanced manufacturers. Originally focused on aerospace customers (including rocket-part maker Phase Four), it has expanded into automotive and robotics. The software provides work collaboration, supply-chain and inventory management, plus data visualization and analytics to help troubleshoot designs. The company aims to support next-generation mobility projects, from jetpacks to air taxis, and to broaden its customer footprint beyond Los Angeles. First Resonance launched in 2018 and has a six-person engineering team drawn from SpaceX, Toyota and NASA; the team began working remotely last March. The new funding will be used to develop Ion further and to double or triple headcount by the end of the quarter as it expands in Los Angeles. After roughly two years in stealth, First Resonance is publicly offering a suite of software products designed to let manufacturers build and operate factories using processes its founders used at SpaceX. The core product is a factory operating system and data platform that coordinates workflow, supports remote monitoring and at-home factory workflows, and feeds manufacturing data back into design and development. The software aims to reduce waste, improve efficiency and enable more flexible, iterative manufacturing processes, and the company says it works best for firms building new manufacturing capabilities without heavy legacy infrastructure. Early customers include Phase Four, Joby Aviation and Iron Ox, and the company currently has six customers (the bulk signed in June and July). First Resonance charges per-seat in a traditional software-as-a-service model. The company harvested talent from SpaceX, NASA, Lexus and other manufacturers, and cites a Markets and Markets estimate provided by the company that the relevant industrial software market could reach $14.9 billion.

Team

  • Ash Patel

    Founding Partner and Co-Managing Partner

    LinkedIn
  • Sunao Nishimura

    Founding Partner, Co-Managing Partner, and Managing Director

    LinkedIn
  • Aya Runderkamp

    CFO

    LinkedIn