The Venture Codex

Led · Equity · Jan 2022

iwi produces plant-based omega-3 and protein by cultivating Nannochloropsis algae in large pond systems on non-arable land in the deserts of Texas and New Mexico. The company uses saltwater and solar energy in a process that consumes hundreds of tons of CO2 and yields a proprietary omega-3 product claimed to have the highest absorption on the market as well as a unique protein. iwi sells direct-to-consumer and through retailers including Whole Foods, Sprouts, Vitamin Shoppe, Central Market, Kroger, and Amazon. The company plans to launch a line of protein solutions in 2022. Proceeds from the recent investment will be used to accelerate sales and to ramp development, marketing, and growth of its new protein-based product while entering new international markets. iwi is headquartered in Houston, Texas.

Led · Debt Financing · Jan 2022

Qualitas Health, known as iwi, produces plant-based omega-3 and protein supplements sold direct-to-consumer and to retailers across the United States. Its nutrition ingredients are sustainably sourced from company-owned cultivation pond systems the size of football fields in New Mexico and Texas. The company plans to accelerate sales of existing products and ramp development, marketing, and growth of new protein-based products, and to enter international markets. The business recently received an $8 million financing package comprising $5.5 million in senior secured term debt and a $2.5 million direct equity investment. Other investors in the company include Grupo Indukern, Gullspång Re:food VC, PeakBridge VC, Arancia Group, Trucent, SASA, and Minrav. The company is based in Houston. Qualitas Health, doing business as iwi, produces proprietary, clinically proven, high-absorption polar lipid EPA omega-3 derived from plant sources. Led by CEO Miguel Calatayud and founded by Erich Sieber and Nadav Berger, the company markets 15 supplement SKUs in the U.S., including soft gels and functional gummies. iwi has built a strong direct-to-consumer platform and maintains a presence in more than 5,000 U.S. retailer outlets. The company completed a first close of a funding round, securing $10M at a $73M post-money valuation to support growth. Proceeds will be used to accelerate customer acquisition, commercialize its plant-based protein, deepen clinical science and intellectual property, and expand into additional geographies. The firm emphasizes clinical evidence and proprietary IP around its plant-based omega-3 formulation as it scales commercialization.

Participated · Series A · Jan 2019

Essentium develops a new generation of industrial 3D manufacturing platforms serving sectors such as automotive, aerospace, biomedical, contract manufacturing, and oil and gas. Led by co-founder and CEO Blake Teipel, the company offers 3D printing solutions for industrial additive manufacturing. In January 2019 it raised $22.2m in Series A funding to support growth. The company intends to use the proceeds to scale manufacturing, engineering, international distribution, sales, and marketing operations. Essentium has operations in College Station, Texas; Orange County, California; and Shanghai, China.

Led · Equity · Jan 2013

ipDatatel designs, engineers and manufactures Internet-ready home area network (HAN) wireless devices that connect alarm system controls to the Internet and HAN connections. Its devices turn smartphones and wireless devices into multi-functional, portable controls and add two-way functionality to existing systems. The ipDatatel product suite provides alarm installers, service providers and equipment manufacturers enhanced capabilities while preserving customer branding and relationships. The company has penetrated 80 percent of the equipment manufacturer market, including Honeywell, DSC and General Electric, for signal distribution through the Internet and HAN connections. Its devices provide affordable wireless alarm communication and auto-aware services and integrate with existing equipment to avoid costly replacement. The company plans to use new funding to scale operations and further penetrate the security installation and OEM markets. ipDatatel was founded in 2007 by veterans with more than 37 years of combined electronic security experience.