Led · Series A · Dec 2023

PCG Power (碧澄能源) develops, finances and operates distributed photovoltaic and energy-storage power plants, positioning itself as a new-type power-system investment manager and operator. Its core offering combines plant investment and construction with power-asset operation, integrated energy services, power trading, carbon-asset management and energy-IoT technology. The company runs six domestic operation centers—in Hangzhou, Guangzhou, Shanghai, Beijing, Suzhou and Xi’an—covering more than 100 Chinese cities, while its overseas projects reach the Middle East, Southeast Asia and Oceania. PCG Power claims an accumulated grid-connected capacity exceeding 1.5 GW. In late 2025 it launched the sector’s first inter-institutional REIT for distributed clean-energy assets, underscoring an innovative financing model that attracted continued international capital. Existing shareholders include Temasek, GLP and several top Chinese industrial funds, providing a solid capital base for expansion. The firm’s B-round proceeds are slated to scale its project portfolio and deepen global market penetration.

Participated · Series E · Nov 2021

Deliverr provides fulfillment services to e-commerce merchants on marketplaces including Shopify, Walmart, Amazon, eBay and Target, using predictive analytics to anticipate demand and preposition items close to customers. The company operates a network of more than 80 warehouses, cross-docks and sort centers and reports that half of the U.S. population lives within 100 miles of its network. Deliverr says its merchants have grown 90% year-over-year and the company is poised to power over $2.5 billion in gross merchandise value by the end of the year. It has doubled the size of its team and opened offices around the world while expanding its warehouse and carrier network to provide one-day fulfillment to the largest metro areas. Management plans to use new capital to improve technology and product development, hire more employees, expand next-day capabilities and build new services such as returns, prep, LOT tracking and temperature control. The company says it is positioned to capitalize on elevated e-commerce demand and ongoing global supply chain constraints. Deliverr provides software-driven fulfillment that places goods in third-party warehouses and selects the fastest, lowest-cost delivery method to guarantee two-day delivery to consumers. The company does not own warehouses; it rents space and negotiates evolving commercial arrangements with fulfillment providers. Deliverr is ramping a next-day delivery product to expand its service offering. CEO Michael Krakaris says the business is capital-intensive and benefits from scale, describing the market as winner-take-all. The company started 2020 with 50 employees, added 100 since, and plans to roughly double headcount this year. Deliverr reported rapid growth during the pandemic but also faced operational challenges such as regional COVID shutdowns and supply shortages. Deliverr provides a networked fulfillment service that lets merchants offer two-day (and a recent next-day) delivery by placing inventory in available warehouse space and integrating with those warehouses' Warehouse Management Systems. The company uses inbound and outbound algorithms to optimize where inventory is stored and the fastest, cheapest carrier for each order. Deliverr maintains relationships with national and regional carriers and a nationwide network of warehouses, leveraging unused warehouse capacity rather than owning real estate or trucks. The platform integrates with marketplaces (including Amazon and Walmart) and merchants' own sites to enable Prime-like delivery offers. Deliverr launched in 2017 and serves thousands of merchants with about 60 employees. It reports a fulfillment success rate of over 95%. Deliverr is a one-year-old San Francisco-based startup that helps e-commerce businesses offer rapid delivery experiences. Its core product uses machine learning and predictive intelligence to determine which warehouses should store clients' goods and to place inventory across typically three to five locations. Deliverr operates out of more than 10 warehouses in Texas, Missouri, Pennsylvania, Ohio and New Jersey, among other states, while not owning the warehouses themselves. The company describes its strategy as an "Uber for fulfillment," filling excess warehouse capacity and using brand-neutral packaging to serve multiple marketplaces. Deliverr has raised a $7.1M Series A led by 8VC with participation from Zola founder Shan-Lyn Ma, Flexport CEO Ryan Peterson and others. The company plans to use the investment to scale its team and ink partnerships with additional online retailers.

Participated · Series E · Jun 2021

Bringg builds software to help retailers manage last-mile logistics, providing tools and access to delivery networks for fulfillment. The company reported 180% growth in new customers over the past year and counts customers including Walmart, Albertsons, Co-Op (U.K.), Coca-Cola and Panera. Bringg says it has amassed a connected network of millions of drivers that customers can tap to supplement in‑house fulfillment. The $100M Series E, which values the company at $1 billion, will be used to grow Bringg’s customer base, expand product capabilities and likely pursue acquisitions to consolidate logistics and fulfillment links. Product roadmap items include expanding beyond the last mile into the middle mile, more in‑store delivery options, greener bundled deliveries and tighter integrations with partners such as Salesforce. CEO Guy Bloch said the company aims to perfect the customer experience and is focused on building a lasting, independent company. Bringg provides an end-to-end delivery logistics platform used by customers including Walmart, McDonald’s and Coca‑Cola, offering tools to mobilize and manage in-house and third‑party fleets. Its product set includes AI-based routing and inventory‑sync tools to optimize last‑mile delivery and integrate with online ordering platforms. The company recently launched BringgNow to serve small and medium businesses that need to mobilize their own or third‑party delivery fleets. Bringg works across retailers, restaurants, grocery stores, large distributors, field service providers and healthcare organizations. Revenues have been rising over the past year and the company reported growth of 24% in a single recent week. Bringg has also provided pro bono support to local governments and nonprofits to help coordinate volunteer delivery efforts during the COVID‑19 crisis. Bringg provides a delivery logistics platform that enables retailers, restaurant chains and third-party couriers to orchestrate last-mile operations. Its product optimizes driver schedules, automates dispatch, sends smart alerts, and supports click-and-collect, crowdsourced fleets and returns management. Customers cited in the article include Walmart, McDonald's and DoorDash. Bringg is active in 50 markets and plans to use new funding to expand into more. The company is co-headquartered in Chicago and Tel Aviv. Financially, Bringg raised $25M in the reported Series C and has raised $53M to date. Bringg offers a delivery logistics platform that gives retailers and enterprises Amazon‑ or Uber‑like visibility into delivery operations, including driver tracking on a map, delivery notifications, driver‑to‑customer communications and rating tools. The product is used across retail, e‑commerce, food, services and logistics, and the company counts customers in over 50 countries including Coca‑Cola, Kimberly‑Clark, Panera Bread, Cdiscount and Hilti. Bringg has expanded from a few large clients to over 30 projects in various phases of roll‑out and has doubled its headcount from under 30 to over 60, with plans to hire 60 more in Tel Aviv, Chicago and New York. The company is not yet profitable but is generating revenues in the millions, and signs annual contracts that often range in the six‑ to seven‑figure band. With strategic investors onboard, Bringg aims to enter new verticals (for example automotive and freight) and is working on customer projects such as Coca‑Cola’s direct‑to‑consumer service that has not yet launched. The founders are Raanan Cohen and Lior Sion; the company was founded in 2013 and operates out of Chicago and Tel Aviv. Bringg provides a customer-centric logistics platform for enterprises to streamline the delivery of goods and services, creating operational efficiencies and improved customer experiences. The open platform offers a set of APIs and SDKs that customers can use to customize the solution and integrate it with existing systems. Bringg serves retail, ecommerce, CPG, food and 3PL/4PL customers in more than 50 countries, including some of the world’s leading brands. Led by Co‑Founder & CEO Raanan Cohen, the company plans to use new funding to grow marketing and sales presence in existing and new markets and to expand its R&D, success and support teams. Bringg is based in NYC, Chicago and Tel Aviv.

Participated · Equity · Nov 2020

Inceptio Technology is a Shanghai-based autonomous driving truck technology and operating company. It develops a self-developed full-stack autonomous driving system called Xuanyuan for heavy-duty trucks. Since 2019 the company and Chinese OEMs have jointly developed a line of mass-produced autonomous heavy-duty trucks. Inceptio has built an autonomous driving freight network used by top-tier shippers and fleets in China. The company intends to use new funds to accelerate Xuanyuan's development and to speed up deployment in electrification. The article reports a US$270m Series B equity financing to support product development and deployment. Inceptio Technology develops full-stack autonomous driving systems for heavy-duty trucks and operates a “Technology + Operations” business model. Founded in April 2018 by Julian Ma, the company partners with Dongfeng Commercial Vehicles and SINOTRUK on Level 3 autonomous truck development. It has signed over 100 logistics clients and expects volume production by the end of 2021. Inceptio’s self-developed stack includes ultra-long-range 3D perception and an on-board computing platform rated at 245 TOPS. The company claims leadership in functional safety design and is the first to support homegrown AI chips. It plans to use new funding to accelerate volume production and commercialization of Level 3 autonomous heavy-duty trucks and to extend its lead in China’s autonomous truck market. Inceptio develops full-stack autonomous driving software and an on-board computing platform for L3 heavy-duty trucks and adopts an end-to-end business model to build and operate a nationwide autonomous trucking network. The company partners with OEMs to preload its proprietary software and computing hardware into production trucks and works with global Tier-1 suppliers such as Knorr-Bremse for drive-by-wire steering and braking systems. In March 2020 Inceptio and Dongfeng Trucks completed A-sample validation for volume production—the first such A-sample validation in China’s autonomous driving industry. Its L3 autonomous heavy-duty trucks were planned to roll off OEM production lines by the end of 2021, and Inceptio planned to begin operating its network in 2022. More than 100 logistics and freight companies had signed up for Inceptio's Smart Truck Asset Service, signaling early commercial traction. The company announced completion of a US$100 million capital raising to support its productization and commercialization efforts.

Led · Series A · Apr 2020

Parsyl combines IoT hardware and software to monitor, understand and mitigate risks to perishable goods in transit and storage. Its platform enables shippers to insure cargo using data-driven insights and connected sensor data. The company has launched ColdCover™ by Parsyl Insurance, a suite of connected cargo insurance products powered by its IoT platform. Parsyl is an approved Coverholder with Lloyd’s of London and its policies are backed by Ascot Group. It is licensed to offer cargo insurance in multiple U.S. states and the United Kingdom. The company plans to expand its insurance product suite into additional states, advance industry-specific product degradation algorithms and grow its team.