The Venture Codex

Participated · Equity · Jul 2026

Starlight Engine was established in April 2025 as a group company of Kyoto Fusioneering and is focused on advancing fusion energy through its FAST project. FAST is a privately led, industry–academia initiative that adopts a tokamak configuration and aims to demonstrate fusion power generation in the 2030s by generating and sustaining D–T burning plasma and demonstrating integrated power generation and fuel-cycle systems. The project has completed its conceptual design and is currently moving into engineering design and construction preparations. SLE is coordinating with leading fusion researchers and a wide set of private-sector partners and universities to develop the project and domestic supply chains. The company plans to use newly raised funds to accelerate engineering and technology development, site selection, regulatory processes, supply chain development, and organizational expansion. SLE intends to grow its headcount to about 200 employees over the next two years as it advances toward fusion power demonstration and future commercial plants.

Participated · Series B · Aug 2025

MetroWeather has developed a compact Doppler lidar that uses infrared lasers to visualize wind direction and speed over a wide area in real time, with observation data shown via a proprietary UI. The company’s strengths include signal analysis algorithms from years of atmospheric remote sensing research and a domestically optimized lidar design that integrates hardware and software. Its design reduces device size compared with conventional models while accurately measuring wind conditions up to approximately 15 km. Current customers and use cases include offshore wind power generation, airport management, and marine sports events. The firm recently raised capital (see deal) and plans to use proceeds to establish a mass production system, pursue dual-use deployment for defense and civilian applications, and fund R&D of next-generation models with object detection. MetroWeather aims to supply mass production models starting in 2025 and to contribute to safe infrastructure globally through expanded commercialization. Metroweather designs and manufactures Doppler‑lidar devices that use infrared lasers and signal processing to measure wind direction and speed in three dimensions in real time. Its systems can detect wind over a roughly 10–15 km radius and perform well in low atmospheric layers where radar is limited. The company highlights applications for safe drone and eVTOL operations, including expanding use cases for suspicious‑drone detection and other security applications. Metroweather’s technology was adopted by NASA in 2021 and has been deployed to a NASA drone test field in the current fiscal year. The firm is pursuing international expansion, notably accelerating U.S. business development. Financially, the company has increased its Series A cumulative funding to ¥1.2 billion following the latest extension.

Participated · Equity · Nov 2024

Tokamak Energy develops a squeezed, spherical tokamak for magnetic confinement fusion and also sells high-temperature superconducting magnets through its TE Magnetics division. Its ST40 prototype produced a record-setting 100 million degree C plasma in 2022. The company plans to operate a pilot power plant starting by 2034. To bridge the gap to commercial fusion revenue, Tokamak Energy is expanding TE Magnetics to monetize its magnet expertise. The startup was spun out from the UK Atomic Energy Authority in 2009 and is based in the UK. Financially, it has raised $275 million to date from private investors, including a recent $125 million raise. The new funds will be used to continue reactor development and expand TE Magnetics.

Participated · Series D · May 2021

Atonarp develops molecular sensing and diagnostics products using proprietary spectroscopic technology to detect, analyze, and quantify molecular information. Its product suite includes the ATON-360™, an end-to-end platform designed to deliver lab-quality results using optical sensors. The company targets healthcare, pharmaceutical, and semiconductor industries with its devices and platforms. Atonarp operates in Japan, India, and the United States. Founded in 2010 and led by founder and CEO/CTO Prakash Murthy, the company recently appointed Shaun Holt as COO. Atonarp intends to use new funding to expand operations and expedite development and commercialization of its molecular diagnostics products. The company has raised $111M in funding to date. Atonarp is a Tokyo, Japan–based hi-tech molecular diagnostics company advancing a quantitative, miniaturized process mass spectrometer called AMS. The company also develops AI-based platforms combining mass spectrometry and optical spectroscopy for process monitoring and healthcare diagnostics. Atonarp aims to deliver pain-free point-of-care blood testing with lab-quality accuracy and real-time actionable data. It intends to use new funding to grow its balance sheet and support ongoing product prototyping and commercialization into the healthcare market. Led by CEO Prakash Murthy, the company has advanced its AMS and related platforms since early 2014. Since early 2014 Atonarp has raised more than $61M in three rounds of equity financing, including this Series C. Atonarp develops miniaturized Smart Spectrometer™ instruments for real-time molecular data analytics targeted at industrial gas process analytics in the energy, pharmaceutical, petrochemical and semiconductor industries. The company is commercializing its first generation of Smart Spectrometers and intends to use newly raised funds to support that commercialization. Atonarp was established in November 2009 and is led by CEO Prakash Murthy. The firm raised up to $16m in funding in the reported round. The product offering focuses on compact spectroscopic instruments and associated analytics for industrial customers. The company is headquartered in Tokyo and serves industrial process analytics markets. Atonarp is developing a Smart Spectrometer technology platform that combines state-of-the-art electronics and data processing algorithms to perform chemical composition analysis. The platform aims to deliver breakthroughs in cost, size, accuracy and maintenance-free operation without the need for carrier gases. Initial target markets for the company’s products are the oil & gas and healthcare industries, including non-invasive personal healthcare monitoring. Atonarp is currently sampling its Smart Spectrometer to leading manufacturers of oil & gas and healthcare instruments. The company plans to enter volume production early next year. The recent $8 million Series A financing will accelerate development and commercialization of the platform.