Participated · Seed · Sep 2020

Manifold Bio has built the mDesign AI-guided discovery platform, which directly measures thousands to millions of biologic variants inside living systems to generate highly predictive data for drug design. This direct-to-vivo approach enables the rapid creation of tissue-targeted medicines—including antibodies, siRNAs, ASOs, and other biologics—by systematically identifying shuttles that move therapeutic payloads across biological barriers such as the blood–brain barrier (BBB). The company is already applying its technology to discover next-generation BBB shuttles that leverage multiple receptor portals to transport drugs into the brain. Manifold describes its long-term vision as constructing the world’s first “virtual organism” model, powered by the large-scale in vivo data it collects. Financially, the firm just secured a $55 million upfront payment from Roche, with the possibility of earning more than $2 billion in milestones and tiered royalties, providing significant non-dilutive capital for future growth. Manifold may also co-fund one of the partnered programs in exchange for enhanced royalties and retains freedom to apply its BBB shuttle technology to other internal or partnered initiatives.

Participated · Series A · Aug 2019

FNA develops a network analytics platform that leverages AI and machine learning to help financial institutions map and monitor complex financial systems and simulate operational and financial risks. Its product is used to plan for network changes, improve operational efficiency and identify and mitigate risks such as operational bottlenecks, concentration and liquidity risks. The company works with global regulators to manage systemic risk, with exchanges to understand risk concentrations and simulate operational risks, and with payments platforms and banks to optimize liquidity and manage financial crime risks. FNA was founded in 2013 and is led by CEO Dr Kimmo Soramäki. The company intends to use the Series A proceeds to further invest in its core technology and to enhance its deep academic partnerships. Due to continued client growth, FNA plans to build on its global presence, particularly in the US and Asia Pacific, and to expand beyond its existing client base of central banks, regulators and FMIs.

Participated · Equity · Oct 2018

Accion Systems builds tiled ionic-liquid electrospray (TILE) propulsion systems that use an ionic liquid propellant and electrospray emitters to generate thrust. The TILE design produces small, postage-stamp-sized thruster tiles that are modular and scalable from CubeSats to larger spacecraft. The company is developing a fourth-generation TILE system that increases emitter density nearly tenfold to deliver more thrust in the same area. Accion plans to ship its first fourth-gen thruster systems in mid to late summer 2022 and will scale manufacturing to support those deliveries. The company was founded in 2014 by Natalya Bailey and Louis Perna and manufactures and assembles its products at a facility in Charlestown, Massachusetts. TILE hardware has already flown on commercial spacecraft from Astra Digital and NanoAvionics on SpaceX’s Transporter-2 launch. Accion Systems develops the TILE (Tiled Ionic Liquid Electrospray) propulsion system, using postage-stamp-size ion electrospray thrusters and a non-toxic ionic liquid propellant to bring electric propulsion to small satellites. The TILE system is designed to increase satellite lifespan, maneuverability, station-keeping and de-orbiting capabilities while being smaller, lighter and more cost-effective than traditional ion engines. The company was spun out of MIT in 2014 and is based in Boston, MA; founders are Natalya Bailey and Louis Perna, with Bailey serving as CEO. Accion has multiple launches scheduled in 2020, including collaborations with the Irvine CubeSat STEM Program and MIT’s BeaverCube educational mission. It was selected as one of 14 companies in NASA’s Tipping Point partnership and received $3.9 million to work with JPL to replace cold gas propulsion on MarCO CubeSat replicas, with that project slated to launch in summer 2021. The company plans to ramp up production of its next-generation product and expand hiring. Accion Systems develops a tiled ionic liquid electrospray (TILE) propulsion system that can be scaled from postage‑stamp size upward. The company has tested TILE in terrestrial facilities and in space, though it has not yet flown on operational missions. Two student‑engineered cubesats equipped with TILE thrusters are scheduled to launch on RocketLab's 'It's Business Time' commercial payload in early November, and the IRVINE 02 cubesat carrying TILEs is slated to fly on a Falcon 9 resupply mission. Accion said the new funding will be used for research, operations, and staff expenses. Founder and CEO Natalya Bailey recently presented the technology at Disrupt. The company's last major fundraise was a $7.5 million round in 2016. Accion Systems commercialized a miniature electrospray ion engine developed at MIT that is small enough to include on small satellites and can be arrayed to scale for larger spacecraft. Each engine is about the size of a penny and generates thrust by accelerating charged particles at high speeds. The company says its patented design offers a longer operational lifetime than competitor Busek’s equivalent electrospray product. Accion has signed three initial partners—one government and two commercial—with first deliveries slated for 2017. Financially, the company previously raised $2.0 million in seed funding and secured $6.5 million through Department of Defense partnerships. With new capital, Accion plans to transition from engineering and product development into full production, grow the team, and build an operational foundation to start delivering orders. Accion Systems develops advanced electric propulsion systems for small satellites. The company is led by CEO and founder Natalya Brikner and is based in Cambridge, MA. Over the past year it began taking pre-orders for its first product, which is in development and slated to launch later in 2015. The startup raised seed funding to support product development and sales and to continue R&D into next‑generation materials and manufacturing techniques. Funds will also be used to hire engineers, materials scientists, and a sales and business development hire. No operating metrics were disclosed in the article.

Participated · Equity · May 2018

ProGlove builds a small-form-factor, lightweight scanner glove that delivers hands-free barcode scanning across manufacturing, logistics, transportation, e‑commerce and retail. Its smart glove gives users optical, haptic and acoustic feedback to reduce errors and speed workflows. ProGlove says the device can cut scanning time by up to four seconds per scan, representing as much as a 50% improvement in scanning efficiency for some customers. The company’s products are integrated at brands including Audi, BMW, Bosch, Daimler, DHL and Lufthansa Technik. ProGlove positions its wearables as an extension of workers’ tools to strengthen human roles in increasingly automated environments. The company plans to use new funding to expand its international footprint and further connect the human workforce with the Industrial Internet of Things (IIoT). ProGlove is a Munich, Germany–based Industrial IoT startup that connects workers to the industrial IoT and helps them work faster and more ergonomically in production and logistics environments. Its first product, MARK, is a hand-wearable scanner launched in October 2016 that can scan goods with no integration needed. The company is led by founder and CEO Thomas Kirchner. ProGlove completed a second $6.7M round of financing and has raised a total of $9.2M to date. The company plans to use the new funds to further scale its intelligent glove into North America. The product and strategy focus on improving speed and ergonomics for frontline workers in manufacturing and logistics. ProGlove builds smart gloves that augment workers’ hands with embedded sensors and scanners for manufacturing and logistics. The gloves enable staff to work faster and more safely by alerting workers immediately to operational errors. The system also allows automatic recording of workflow and process-compliance data. The company raised $2.2M in a Series A round and intends to use the funds to accelerate production and launch its smart glove system. ProGlove was founded in December 2014.