The Venture Codex

Participated · Series B · Jun 2025

Runwise offers a vertically integrated smart control platform that automates building operations by combining proprietary wireless hardware with cloud-based software to optimize heating, cooling, electric, and water systems. The platform enables rapid deployment with a typical payback period of under five months and delivers measurable ROI and operational simplicity. Runwise is installed in more than 10,000 buildings across the U.S. and serves upwards of 1,000 customers, having saved customers over $100 million in energy costs to date. The company reports growth of over 30X since its seed round and says it is on track to nearly double again this year. Runwise plans to use new capital to support product innovation, expand its team, and enter new core markets. The company positions itself as a large private-sector reducer of carbon emissions and a leader in scaling smart infrastructure across real estate portfolios. Runwise provides building control services using intelligent, easy-to-install wireless hardware and software to optimize heating and other key building systems. Its platform is installed in over 4,000 buildings and serves almost 400 customers, including large owners and operators such as Related, Blackstone, Lefrak, Equity Residential, Fairstead, and Douglas Elliman. Runwise says its service controls key building systems in thousands of buildings across 10 states and delivered an average 20.1% reduction in fossil fuel emissions in retrofitted buildings last year. Energy savings typically pay for the system within a handful of months, and the company expects its growth this year will remove the equivalent of nearly 100,000 cars' worth of carbon emissions. Financially, Runwise has raised $19 million in a Series A and now has $24 million in total equity funding. The company plans to use the new capital to expand operations and deploy its technology more broadly across the U.S. to increase building efficiency, lower costs, and reduce fossil fuel emissions. Runwise develops wireless sensors and a controller computer that retrofit decades-old heating controls to reduce energy consumption and costs. Its sensors claim a 10-year battery life and the system takes charge of boilers and heating previously run by timers or static logic. The company says average install payback from reduced heating bills is around nine months. Runwise has been bootstrapping for a decade and its tech is already deployed in roughly 4,000 buildings serving more than 300,000 people. Customers include large real estate operators such as Related, Blackstone, Lefrak, Equity Residential, Douglas Elliman and Fairstead. The company plans to use new funding to enter a phase of hyper growth and pursue a vision of dramatically cutting building carbon and improving affordability at scale, targeting many more of the ~12 million U.S. buildings.

Participated · Series A · Mar 2025

Apptronik develops the Apollo humanoid robot and emphasizes human-centered design for collaboration in industries like manufacturing and logistics. The company emerged from the Human Centered Robotics Lab at the University of Texas at Austin and cites nearly a decade of development experience built on about 15 prior robots, including work tied to NASA’s Valkyrie. Apptronik has roughly 350 employees working on advancing its Apollo platform. Management positions the robot to address labor-intensive tasks and reduce repetitive-motion injuries while improving productivity and safety. The company says Apollo could expand into healthcare, the home, and other markets beyond its initial industrial focus. Recent secondary share activity—an approximately $4.2 million transaction—provided liquidity for existing shareholders and is portrayed as helping bridge development toward mass production.

Led · Series A · Dec 2024

Engineered Arts is a humanoid robotics company that builds lifelike robots and a cloud-based Tritium operating system to drive animation, interaction, maintenance, and content distribution. The company has deployed over 200 robots worldwide and developed six distinct humanoid models, with Ameca its most advanced and widely seen platform. Engineered Arts serves marquee customers including Madison Square Garden's Sphere, GSK, and the Computer History Museum, delivering entertainment and interactive exhibits. The company recently restructured as a U.S. entity in Redwood City to expand its U.S. footprint and meet growing demand. With the new funding it plans to accelerate product refinement, manufacturing readiness, scale production, launch a virtual robot character platform, expand cloud AI services, and improve dexterity and locomotion. Engineered Arts also intends to scale support and regional offices and hire roughly 20 employees at its Redwood City location over the next 18 months.

Participated · Series A · Jun 2024

Princeton NuEnergy is an advanced manufacturing leader in lithium-ion battery direct recycling, founded out of Princeton University and led by CEO Dr. Chao Yan. Its patented low-temperature plasma-assisted separation process (LPAS™) produces battery-grade cathode and anode materials suitable for direct reintroduction into cell manufacturing. The company says the process operates at roughly half the cost and with a much lower environmental footprint than conventional methods. PNE closed a $30M Series A and intends to use the funds to support construction of its first standalone, full-scale direct battery recycling advanced manufacturing facility, to be announced later this month. To date the company has raised over $55M, including multiple U.S. Department of Energy grants totaling $18M and a $7.9M seed & angel round. Strategic and corporate backers include Samsung Venture Investment Corporation and Helium-3, alongside previous investors such as Honda Motor Co. Ltd., LKQ Corporation, SCG Group, Traxys Group, and Wistron Corporation. Princenton NuEnergy develops a patented low-temperature plasma-assisted separation process (LPAS™) to perform direct recycling of lithium-ion batteries. The LPAS process is designed to reduce costs, environmental waste, and carbon emissions and to enable higher critical-material recovery rates and superior material performance versus traditional recycling methods. The company is led by CEO Dr. Chao Yan and is based in Bordentown, New Jersey. PNE intends to use recent funding to support construction of an Advanced Black Mass and Cathode Manufacturing Center in the southeastern U.S. 'battery belt'. Financially, the firm completed a Seed round of $7M and has secured multiple U.S. Department of Energy grants totaling $18M for battery recycling research. Over the past six months it has raised $26.4M in Series A funding in total, including an additional $10.3M announced in May 2024. Princeton NuEnergy is a Bordentown, New Jersey–based clean‑tech company founded out of Princeton University that develops direct recycling technology for lithium‑ion batteries. Its patented low‑temperature plasma‑assisted separation process (LPAS™) produces battery‑grade cathode and anode materials suitable for direct reintroduction into cell manufacturing. The company reports recycling efficiency rates of over 95% and claims exceptional ESG performance at roughly half the cost and with a lower environmental footprint versus conventional methods. In 2022 PNE launched an end‑to‑end production‑scale lithium‑ion battery direct recycling line in the U.S. The company raised $16M in a Series A and intends to use the funds to construct a new recycling facility and procure equipment to increase processing capacity and support operations. PNE has also received multiple U.S. Department of Energy research grants (most recently $12M and $4.375M) and previously completed seed rounds totaling $7M. Princeton NuEnergy develops a patented Direct Battery Recycling technology that converts spent lithium‑ion batteries from electric vehicles and consumer electronics into high‑quality, high value‑added cathode active materials. The company says its process lowers operating costs while delivering sustainable energy and environmental solutions. Led by CEO Dr. Yan Chao, the team includes co‑founder and CTO Dr. Yang Xiaofang and technical advisors Prof. Yiguang Ju and Prof. Bruce E. Koel. Princeton NuEnergy was spun out from Princeton University in 2019 and is based in Bordentown, New Jersey. The company intends to use the newly raised funds to scale development and accelerate growth. No operating metrics (revenue/users) were disclosed in the article. Princeton NuEnergy of Bordentown, New Jersey is developing a novel lithium‑ion battery recycling process to directly recover and regenerate used battery materials. The company says its process is simpler, more cost‑effective, and more environmentally friendly than current industrial recycling methods. With the process, critical battery materials such as the cathode and anode can be recycled, restored, and reused in new batteries without breaking materials down into raw elements. Princeton NuEnergy completed Cleantech Open’s six‑month accelerator program of mentorship, business training, and investor and partner networking. The company won Cleantech Open’s 2021 U.S. National Grand Prize, which includes a $50,000 SAFE note plus consulting and legal support. CEO Chao Yan said the award will help execute a pilot production line in Q1 2022 and strengthen intellectual property, business strategy, and marketing.

Participated · Series B · May 2024

Dendra Systems offers an end-to-end RestorationOS solution combining data capture, drone-based seeding and an AI-enabled ecosystem insights platform to plan, deploy and monitor large-scale ecological restoration projects. The platform supports targeted, rapid deployment of restoration efforts and provides ongoing monitoring, management and reporting over multi-year projects. Customers include Rio Tinto, Glencore, Liontown, BHP and the Environment Agency – Abu Dhabi. The company is led by CEO Dr Susan Graham and employs 87 professionals across the UK, Australia, UAE and the US. Dendra says it will use the new funding to accelerate geographic expansion and continue development of its AI-enabled ecology platform. Dendra provides integrated analytics and planting solutions for large-scale ecosystem restoration, combining ecology, drone technology, and AI. Its patented platform uses ultra-high-resolution data capture and ecology-trained artificial intelligence to map and assess degraded land and produce precise, site-specific restoration plans. Dendra’s customized drones plant 120 seeds per minute per drone—about 150 times faster than traditional manual planting—and the company continuously collects data and runs analytics to predict future work, ensure full restoration, and quantify carbon capture. The company partners with Fortune 500 customers across regulated industries and positions itself as an end-to-end solution that rebuilds whole ecosystems rather than planting isolated trees. Founded in 2014 by Susan Graham, Irina Fedorenko, Lauren Fletcher, Martin Tengler, and Matthew Ritchie, Dendra is led by CEO Susan Graham, an Oxford‑trained scientist. Recent funding is intended to support global expansion and development of new projects in North America.