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The Venture Codex

HG Ventures

6320 Intech Way, Indianapolis, IN, 46278, United States

Overview

HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with private companies developing new technologies and approaches in both their core and adjacent markets. They leverage the world class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners.HG Ventures invests in early stage and growth stage companies developing advanced materials and systems for transportation infrastructure, environmental services and specialty chemicals.

Total investments
37
Lead investments
18
Investments · 12mo
2
Active investors
3

Sector focus

  • Venture Capital
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Investment portfolio

  • R3 Robotics

    Led · Series A · Feb 2026

    R3 Robotics, newly rebranded from Circu Li-ion, builds a dismantling platform that combines computer vision, artificial intelligence, and specialized robotic tooling to automate the disassembly of lithium-ion battery packs, e-motors, power electronics, and other electrified vehicle subsystems. The technology is designed for continuous, high-throughput industrial environments, reducing labor costs and minimizing human exposure to high-voltage hazards. By creating clean feedstock for recyclers, the company targets a critical bottleneck in Europe’s push for secure, domestic supplies of strategic raw materials under regulations such as the EU Battery Regulation and Critical Raw Materials Act. R3 Robotics is already piloting its solution with Fortum Battery Recycling and directly processes end-of-life battery systems for automotive OEMs. The long-term vision is to enable fully automated, system-level EV disassembly, turning end-of-life vehicles into sources of reusable components and critical materials. To support this expansion, the firm has appointed former KUKA CEO Peter Mohnen to its advisory board. Financially, the company secured €20 million in fresh capital—€14 million in Series A equity and €6 million in European grants—to industrialise its platform and scale deployments across Europe.

  • FREDsense

    Led · Series A · Sep 2025

    FREDsense Technologies Corp. develops and sells portable water-quality testing solutions that replace lengthy laboratory analysis with same-day, onsite results. Its flagship product, FRED-PFAS, allows environmental and industrial customers to detect per- and poly-fluoroalkyl substances (PFAS) and other contaminants quickly, helping them locate hotspots, verify clean-ups, and optimize treatment processes. The core technology lowers remediation costs by shortening turnaround times and enabling real-time decision-making in the field. Customers use the platform to stay compliant with tightening water regulations and accelerate remediation projects. With fresh Series A capital, the company plans to expand both operations and product development, presumably broadening its sensor portfolio and scaling manufacturing. The recent $7 million raise brings the company’s total known funding to at least that amount, although no revenue or user figures were disclosed in the article.

  • Voxel

    Participated · Series B · Jun 2025

    Voxel develops a site-visibility platform that analyzes footage from customers’ existing cameras to detect safety hazards, risky behaviors, and operational bottlenecks in warehouses, manufacturing plants, distribution centers and other industrial settings. The system converts raw video into actionable alerts and analytics, enabling companies to intervene before accidents occur and to quantify return on safety investments. Following its recent Series B financing, Voxel is focused on scaling globally and deepening product capabilities through strategic partners such as Ericsson. The company is actively hiring across all business units to support this expansion. Financially, Voxel has raised a cumulative $64 million in venture funding, including a $44 million Series B completed earlier in 2025. No revenue or user metrics were disclosed in the article, but management highlights “tangible results” and “immediate ROI” for customers. The firm’s headquarters are in San Francisco.

  • PinPoint Analytics

    Led · Seed · Sep 2024

    PinPoint Analytics, founded and led by CEO Jim Carr, offers an AI-driven platform for construction data management and analysis. The platform employs advanced machine learning to analyze large datasets, helping contractors secure more bids, optimize profit margins, and reduce the time required for complex manual estimates. PinPoint also enables municipalities to establish more accurate project budgets, minimizing financial risks and avoiding costly re-bidding. In September 2024 the company raised $3.2M in seed funding to enhance bid accuracy and efficiency. The round was led by HG Ventures and joined by Compose VC, and HG Ventures’ Kip Frey joins the PinPoint Analytics board. The funding is intended to support the company’s product and operational efforts within the road construction sector.

  • Puraffinity

    Participated · Equity · Sep 2024

    Puraffinity develops Puratech®, a patented adsorbent media that captures PFAS from water and can be tailored to specific PFAS compounds. Puratech is a configurable, plug-in solution designed to fit into existing water treatment systems and meet differing regulatory standards across markets. The company plans to use the new funding to scale up production of Puratech and expand its business globally. Puraffinity was founded in 2015, spun out of Imperial College, and was co-founded by Henrik Hagemann and Gabi Santosa. Vincent Caillaud was appointed CEO to boost market access; he has more than 20 years' experience in the water sector and previously led Veolia Water Technologies & Solutions. The company emphasizes a technology-led approach to remove PFAS, substances linked to health risks including cancer.

Team