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The Venture Codex

In-Q-Tel

2107 Wilson Blvd Ste 1100, Arlington, VA, 22201, United States

Overview

IQT identifies and partners with companies developing advanced technologies. It evaluates emerging technologies and collaborates with entities that show potential for practical applications. IQT serves industries such as defense, cybersecurity, and telecommunications.

Total investments
158
Lead investments
6
Investments · 12mo
28
Active investors
15

Sector focus

  • Finance
  • Non Profit
  • Venture Capital
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Investment portfolio

  • BEI

    Participated · Series B · Aug 2026

    BEI develops and manufactures anode-free lithium metal batteries designed for high energy density and power; its current-generation cells exceed 500 Wh/kg according to the company. Independent testing by About:Energy confirmed leading energy density and power characteristics, and a BEI-powered drone demonstrated over 30 minutes of flight at −26°C during a field demo in Finland. BEI reports more than 30 global UAV customers are evaluating or deploying its cells, which are already integrated into operational small unmanned systems. The company is commercially shipping its AFLMB cells today while advancing a roadmap targeting future cell generations with energy densities above 600 Wh/kg. With the Series B proceeds, BEI plans to scale manufacturing, run customer qualification programs, and expand commercially across Korea, the U.S., and Europe. Strategic partnerships and investor relationships aim to strengthen supply-chain resilience and support adoption in defense, robotics, and electric mobility markets.

  • Mariana Minerals

    Participated · Series B · Aug 2026

    Mariana Minerals combines proprietary software and capital project execution to build and operate mines and refineries for critical minerals. Its MarianaOS platform integrates CapitalProjectOS, PlantOS and MineOS into a single AI and machine learning stack intended to compress multi-year project execution timelines and reduce commissioning time. The company operates active projects including Copper One, which is ramping toward 50,000 metric tons of refined copper per year, and Lithium One, a GWh-scale facility targeting commercial lithium production from oil & gas produced water in the first half of 2027. Mariana has raised roughly $400 million of parent and project capital to date, including the $310 million Series B. The company plans to scale to 10 commercial-scale projects in 10 years, using data from each project to improve its software and lower costs for subsequent builds.

  • Odyssey

    Participated · Series B · Jun 2026

    Founded in 2023 by self-driving veterans Oliver Cameron (CEO) and Jeff Hawke (CTO), Odyssey develops world models that gather and simulate physical-world data for applications across video, robotics and gaming. The company has produced a handful of models and is noted for generating rich, interactive video from text prompts. Its data-collection approach involved sending people with cameras to capture environments, mirroring techniques used by mapping products. After its latest financing Amazon became a strategic cloud partner and Odyssey plans to optimize its models for AWS Trainium chips. Financially, Odyssey raised $310 million in a Series B at a $1.45 billion valuation and has raised $337 million in total to date.

  • Ent

    Participated · Seed · Jun 2026

    Ent operates an intent-aware Workspace Security platform that observes behavior across browsers, applications, workflows, data movement, and local runtimes to evaluate human and AI agent intent in real time. The platform runs as a lightweight agent hosted in the customer’s cloud, applies customer-defined policy, and performs configurable, just-in-time interventions to stop risky actions before they become incidents. Ent is generally available for Windows, macOS, Linux, and via a browser extension and is deployed with Global 2000 customers across hospitality, financial services, and defense. The company was founded by Elias Manousos and Brandon Dixon, founders of RiskIQ and contributors to Microsoft Security Copilot, and includes advisors with senior security and intelligence backgrounds. Ent plans to use new funding to hire across engineering and go-to-market teams and to accelerate product roadmap items including AI governance, threat prevention, security integrations, and multimodal endpoint intelligence. The company positions its technology as a preventive layer at the workspace to address AI-era, fast-moving attacks by bringing AI reasoning directly to endpoints.

  • RevEng.AI

    Participated · Series A · May 2026

    RevEng.AI builds a binary-native verification layer and an AI model called BinNet that analyses software directly at the binary level to identify hidden vulnerabilities, backdoors, and suspicious functionality. The platform inspects compiled executables, firmware, and third-party applications without requiring access to source code. The company developed its model in collaboration with government cyber units and commercial security teams. RevEng.AI is positioning its technology for procurement and deployment checks, release comparisons, and integration into security and software delivery workflows. It reports early demand from enterprise and defence customers. Financially, the company recently raised $15 million in a Series A to support growth and deployment of its verification platform.

Team

  • Norman R. Augustine

    Founder

  • J.D. Englehart

    Founder

    LinkedIn
  • William Strecker

    Executive Vice President and CTO

    LinkedIn
  • Michael Falcon

    Partner

    LinkedIn