The Venture Codex

Participated · Seed · Feb 2026

Founded in 2020 in Gironde, France, Dionymer develops and manufactures PolyHydroxyAlcanoates (PHA) derived from biodéchets sourced from collective catering outlets. These biopolymers serve as sustainable, fully biodegradable alternatives to the 99 % petrochemical polymers currently used in cosmetics, plastics, and paints. By valorising organic waste, the startup targets a share of the 400-million-tonne global polymer market while reducing carbon emissions and microplastic pollution. To date the company has focused on scaling its proprietary production process; the new capital will finance its transition from pure production to active commercial sales. Management emphasises that the forthcoming phase will include market entry and broader industrial deployment. Dionymer’s technology positions it for both environmental impact and regulatory tailwinds as industries seek greener materials, though no revenue or customer figures have yet been disclosed. Earlier seed financings totalled €2.5 million, and the firm is now poised to accelerate go-to-market execution with expanded manufacturing capacity.

Participated · Series B · Jun 2025

Founded in 2019 in San Sebastián, Multiverse Computing builds AI solutions inspired by quantum computing techniques—notably tensor-network approaches—to compress large language models and produce energy-efficient AI. The company says its technology can reduce model size and energy use by up to 95%, deliver 4x–12x faster inference, and cut costs by 50%–80%, enabling deployment on constrained devices like smartphones, laptops and satellites. Multiverse has launched a new generation of optimized models, including an open-source model and a family of compressed models designed for resource-limited environments. It has formed strategic partnerships with firms such as Cohere, Axelera AI, Plain Concepts, Inetum, EY and PwC to accelerate adoption in finance, energy, logistics, space, health and defense. Financially, Multiverse closed a €189M Series B in June 2025 (led by Bullhound Capital and including SETT and other investors) and is currently finalizing a larger round that could total €500M, backed in part by a €107M SETT commitment.

Participated · Series A · May 2025

EdgeRunner AI offers a Generative AI platform that runs occupation- and mission-specific AI agents locally on air-gapped devices for military and enterprise users. The platform uses multiple open-source LLMs optimized for on-device execution (AI PCs and edge devices) and provides chat, Q&A, summarization, translation, transcription, code generation, multi-document RAG, text-to-speech/speech-to-text, and tool integrations (Outlook, Google Workspace, Slack). It also includes occupation-specific adapters for military personas (logistics, maintenance, acquisitions) to produce more relevant responses in Denied, Disrupted, Intermittent, and Limited (DDIL) environments. Running locally improves energy efficiency, cost, data privacy, security, and reliability without internet connectivity. EdgeRunner has a CRADA with the U.S. Air Force Research Laboratory to develop agents tailored to Air Force occupational specialties and was designated an “Awardable” vendor on the DoD CDAO Tradewinds Solutions Marketplace. The company was named to CB Insights’ AI 100 for 2025 and will use new capital to grow its team and invest in product development. The company is headquartered in Seattle. EdgeRunner AI is a Seattle-based startup building Generative AI optimized for edge deployment. The company develops small, task-specific Ultra-Efficient Language Models (UELMs) and an accompanying platform that can run on any chip or device without internet connectivity. EdgeRunner emphasizes full transparency of models, including weights, code, architecture, and datasets, to address bias, usability, and safety concerns. Its technology targets hyper-personalized, domain-specific use cases for enterprises and government customers. Local execution of its models is positioned to improve performance, increase data privacy, deliver near-zero latency, reduce power consumption, and support sustainability. EdgeRunner launched from stealth and is using funding to build its platform and pursue partnerships; it is backed by a $5.5 million seed round led by Four Rivers Group with participation from Madrona Ventures and strategic angels.

Led · Series C · Nov 2022

Owl Labs develops AI-powered meeting hardware including the Meeting Owl 3 (a 360-degree camera with mic and speaker array), a whiteboard camera, and a meeting room control console. Its Owl Intelligence System enables features like connecting up to two Meeting Owls to expand coverage and facial recognition, including for masked faces. The company plans to use new funding to support product development, increase global adoption, and deepen go-to-market partnerships, starting with a commercial agreement with HP France. Owl Labs reports more than 130,000 organizations using its products, including 84 Fortune 100 companies, and says it has grown revenue more than 3x year-over-year and 7x since the pandemic began. The company patched a disclosed security vulnerability earlier this year. Founded in 2014 by Mark Schnittman and Max Makeev, Owl Labs is Boston-based and has over 100 employees and $47M raised to date. Owl Labs, led by CEO Frank Weishaupt, develops the Meeting Owl, a 360° smart video conferencing camera designed to be platform-agnostic and make remote meetings feel like sitting in the room. The company’s Meeting Owl integrates with platforms such as Zoom, Google Hangouts, and Microsoft Teams. In 2018 customers used the Meeting Owl to conduct more than 450,000 meetings. Owl Labs raised $15M in a Series B round, bringing total funding to date to $22.3M. The company plans to use the funds to launch new solutions, grow the team, and expand international reach in 2019 and beyond. Owl Labs is building an IoT video-conferencing hardware product, a USB audio and video device intended to make meetings with remote employees more connected. The company emerged from stealth and is using Series A funds to finalize the product. It plans to share full product details at a product launch this summer and expects the device to be available for purchase later this year. Owl Labs was founded by CEO Max Makeev and CTO Mark Schnittman, both formerly of iRobot. The company is based in Boston, MA and currently has a team of just under 20. It was seeded by Playground Ventures and was the first company to join Playground’s West Coast Design Studio, both founded by Android co-creator Andy Rubin.

Participated · Series A · Jul 2020

Mobalytics builds an automated, data-driven coach for competitive gaming, originally leveraging League of Legends API data to quantify player skills like survivability and teamplay. The company has expanded its assistants to multiple titles, including Legends of Runeterra, Teamfight Tactics and Valorant, and tracks metrics such as information processing, map awareness and tunnel vision. It partnered with Tobii to add eye-tracking metrics, running research to convert high-frequency gaze data into player-facing measures. Mobalytics aims to create an adaptive gaming assistant that personalizes suggestions to improve play. The company reports more than seven million monthly active users and plans to use new funding to double down on what has worked and expand into other games and genres. Mobalytics builds an analytics-driven competitive gaming coach that uses existing APIs and available data to assess player skills via a Gamer Performance Index (GPI). The GPI delivers a snapshot of a gamer’s playing style along with strengths and weaknesses in a single image to help players see what to improve, better match against competitors, or build more effective teams. The company is focused on top PC e-sports titles initially, launching a private beta for League of Legends to the first 10,000 people on its waiting list and planning Overwatch PC support early next year, with console gamers under consideration. Nearly 20,000 users have signed up for early access. Mobalytics raised $2.6 million in a seed round to recruit talent and expand operations across the globe; this is the company’s first major bout of fundraising. Co-founder Amine Issa said the immediate priority is ensuring the algorithms generate meaningful insights so players will trust and rely on the platform.