Participated · Equity · Jun 2019

Founded in 2015 in San Francisco, Modal (formerly Drive Motors) builds white-label digital commerce software that plugs directly into a dealership’s existing website and showroom flow. The platform allows car buyers to complete every step of the transaction online—selection, financing, and final checkout—creating a fully contactless purchase experience. Beyond today’s checkout tools, Modal says it is developing a broader “multimodal” ownership operating system that will serve as a unified channel across sales and post-purchase interactions. Its software is currently used by leading automotive dealers and brands, though no specific customer or revenue figures were disclosed. The company positions itself as an enabling layer rather than a consumer marketplace, aiming to boost dealer conversion rates and customer satisfaction. Modal has now secured $15 million in Series A financing, providing runway to expand product capabilities and strengthen partnerships with OEMs and large dealer groups. No other financial metrics were shared in the article.

Participated · Equity · Nov 2016

SATLANTIS builds multispectral infrared satellite technology to capture and measure greenhouse gas emissions, notably high-precision methane detection. The company is developing a GEI-SAT satellite for Enagás and offers satellite-based monitoring services via microsatellite systems. SATLANTIS has completed six space missions and claims world-leading optical space observation technology. A US subsidiary exists to support growth in the North American market and the company plans to develop new products and services for that market. The latest financing round brought new international investment to accelerate emissions-monitoring services and support the energy transition. Sean O'Keefe was appointed President of SATLANTIS LLC as part of the company’s U.S. leadership and partnership effort. Satlantis develops extreme miniaturisation camera technology and environmental satellites for Earth observation, with projects endorsed by Copernicus and the European Space Agency. The company led the OPTISSE project for European Defence, heading a six‑company consortium and demonstrating feasibility of 50cm resolution with its miniaturised cameras. It is building a new environmental satellite covering the visible, shortwave and mid‑wave infrared spectrum to detect methane emissions. That methane‑detection satellite is scheduled for launch in June 2023 and aligns with upcoming European regulation on methane for the Oil & Gas sector. Satlantis plans to use recent financing to pursue internationalisation to the US, the UK, Central Asia and the United Arab Emirates and to shorten industry lead times by offering satellite solutions in months rather than years. The company also received a rating of excellence from the European Commission, which awarded a follow‑on project to focus OPTISSE results on maritime monitoring. Satlantis develops satellite sensors and solutions focused on environmental monitoring, including methane detection, marine plastic identification and fire detection. The company says its methane measurement capability reaches very high precision (5 meters), a resolution it describes as previously unattained. Leadership includes Jean‑Jacques Dordain, former director general of the European Space Agency. Satlantis employs about 45 engineers and positions itself to serve customers across the value chain, including Copernicus, ESA missions and the oil & gas sector. With the new funding the company plans to launch SATLANTIS International to develop activity in the USA, UK and the United Arab Emirates. Satlantis develops high-resolution imaging cameras that integrate into nanosatellites to capture real-time images of the Earth’s surface. The company was founded in 2014 and counts former minister Cristina Garmendia among its founders. Satlantis is focused on qualifying its cameras for space launch and standardizing devices to enable series manufacturing. It operates in the industrial automation/robotics sector with R&D and manufacturing plans centered in Bilbao, Basque Country. In March 2016 the company closed a €2.35M venture-capital round intended to support product development and a new factory in Bilbao. The round involved strategic and institutional investors collaborating to back the company’s next development phase.