Participated · Equity · Dec 2025

Founded in 2022 in Belfort by a team of power-energy engineers, Neext focuses on enhancing the performance and durability of thermodynamic and industrial energy systems through proprietary “reactive fluids.” The company has secured an exclusive licensing deal with SATT Sayens to commercialize these fluids, which are designed to improve the efficiency of thermal power plants, heat pumps, and other energy infrastructures. Neext plans to channel its technology beyond the new-nuclear sector into waste-heat recovery, industrial energy systems, geothermal, and solar-thermal applications. The freshly raised capital will finance the move from laboratory research to industrial production, including commissioning a test bench scheduled for 2026. The firm ultimately aims to begin large-scale deployment once the industrial pilot is validated. This public funding marks the first tranche of a larger €7.3 million envelope allotted under the national France 2030 program, underscoring governmental support for decarbonization technologies.

Participated · Series B · Mar 2023

Zeda provides advanced 3D manufacturing and nanotech solutions, with a focus on metal 3D printing for medical, aerospace, defense, space, and energy applications. The company leverages advanced manufacturing technology to address complex engineering and materials challenges for customers in those sectors. Zeda will use the Series B proceeds to fund a new advanced manufacturing digital foundry in Cincinnati, Ohio and to expand its facilities globally. The company also plans to expand into the Asian market for its medical implant applications. Zeda closed a $52M equity and debt financing as part of this Series B and has raised $68M in total capital to date. The company is led by CEO Shri Shetty and is headquartered in Fremont, CA.