Participated · Series B · Oct 2025

MatrixSpace designs and sells compact, ultra-low-power radar products that combine edge-based artificial intelligence with cloud software to deliver real-time detection, classification, history, and prediction of objects in challenging environments. Its flagship MatrixSpace Radar provides affordable situational awareness for both civil and defense customers, operating effectively in low-light and low-visibility conditions. The company positions its technology as a rapidly deployable counter-UAS solution that can secure airspace, perimeters, and other dynamic outdoor areas. Recent strategic partnerships, such as with defense industry leader L3Harris, underscore MatrixSpace’s ambition to become the portable CUAS market leader. With the new capital from its Series B, management plans an accelerated growth phase and deeper industry penetration. Financially, the firm has now raised a cumulative $58 million, reflecting a significant valuation step-up since its Series A in May 2023.

Participated · Series F · Mar 2025

Founded in 2015, Shield AI develops autonomy software (Hivemind) and unmanned aircraft platforms such as V-BAT and X-BAT. Hivemind has piloted 26 classes of vehicles, including F-16s, jet-powered UAVs, helicopters, drone boats, and ground vehicles, and was selected by the U.S. Air Force as a mission autonomy provider for Collaborative Combat Aircraft (CCA). Shield AI is actively conducting flight tests of Hivemind onboard the Anduril YFQ-44A CCA. The company operates offices and facilities across the U.S., Europe, the Middle East, and Asia-Pacific and supports operations worldwide. Financially, Shield AI completed a $2.0 billion financing package at a $12.7 billion valuation tied in part to its planned acquisition of Aechelon, a high-fidelity simulation and synthetic reality company. The Aechelon acquisition is expected to close after regulatory approvals and will continue to operate independently while reporting into Shield AI’s leadership.

Participated · Series B · Jun 2024

Founded in 2017, CesiumAstro designs and manufactures full-stack, software-defined communications payloads, processors, and complete small satellites. Its core Element platform combines modular, in-house-built hardware with AI that optimizes signals in real time, allowing operators to reconfigure missions after launch. The technology has been flight-proven on eight SpaceX launches and targets dense low-Earth-orbit constellations as well as defense applications. By integrating payloads, satellites, and processors under one roof, the company aims to shorten upgrade cycles and reduce costs compared with legacy providers. With fresh capital, CesiumAstro will scale U.S. manufacturing, open a 270,000-square-foot headquarters near Austin, and increase hiring in the United States, United Kingdom, Germany, and Japan. The firm also plans to accelerate launches of its Element satellites, advance its AI capabilities, and pursue additional defense contracts through at least 2027.

Participated · Series A · Sep 2022

Diveplane offers an MLOps platform that creates synthetic “twin” datasets, detects anomalies, forecasts trends and provides explainable, auditable AI tools for enterprise and defense customers. Its flagship products include Geminai for anonymized synthetic data and Sonar for ongoing model- and data-drift analysis. The company traces its roots to Hazardous Software and was founded by Chris Hazard, Mike Resnick and Mike Capps. Diveplane has focused customer acquisition on defense organizations while also selling to larger enterprises, with recent deals including Scanbuy and Spain’s insurer Mutua Madrileña. The startup employs roughly 20 people and says its technology has a history of use in government agencies including U.S. Transportation Command. It closed a $25 million Series A and plans to use the capital to expand headcount and create new internal departments, starting with customer success. Diveplane builds AI and machine‑learning solutions that emphasize interpretability, auditability and privacy. Its flagship product, GEMINAI™, creates synthetic twin datasets stripped of personally identifiable information to enable safe sharing and analysis while helping customers meet GDPR, PHI and HIPAA requirements. The company's Understandable AI™ portfolio also includes SONAR™ for anomaly detection and ALLUVION™ for commercial real estate market trend prediction. Diveplane serves multiple industries including finance, healthcare, supply chain, commercial real estate and defense. The company plans to use new financing to accelerate AI/ML development, bolster research and software development, and expand the team to support growth. Founded in 2018 by Dr. Michael Capps and Dr. Chris Hazard, Diveplane is headquartered in Raleigh, North Carolina and has been cited by Gartner as a Cool Vendor and a Sample Vendor in multiple 2020 Hype Cycle reports. Diveplane develops interpretable AI systems designed so humans can see and audit how models reach conclusions rather than relying on black boxes. The company was started in fall 2017 by Mike Capps, Chris Hazard, and Mike Resnick and is based in Raleigh, North Carolina. Its solution is positioned as high‑touch enterprise software and research, with a dozen pilot projects spanning NASCAR simulations, healthcare and insurance quality improvement, venture capital decision support, agricultural science discovery, and drone training. Today Diveplane has 17 employees and hopes to double headcount this year. The company emphasizes using interpretable models in sensitive settings such as healthcare preapproval procedures so decisions can be explained and verified by humans. Capps says the goal is responsible AI that supports human decision‑making rather than replaces it.

Participated · Series A · Apr 2022

Overwatch Imaging develops airborne imaging systems and intelligence automation software, centered on its AI-powered Automated Sensor Operator (ASO) and purpose-built Smart Sensors. ASO enables real-time autonomy for EO/IR video systems, offering intelligent sensor control, automated data analysis, and mission-specific outputs that reduce operator workload and improve detection. Smart Sensors pair multispectral imaging hardware with ASO for applications including wildfire detection, maritime domain awareness, border security, and infrastructure inspection. The company’s systems are deployed globally on both piloted aircraft and drones and serve national security and emergency management customers. Over the past year Overwatch operated cash-flow positive, collected substantial unique image data, and invested heavily in R&D to develop ASO for partner imaging systems and its own sensors. The company plans to expand go-to-market efforts, scale partner-driven customer adoption, grow its team, and broaden partnerships to deliver ASO to more missions and customers worldwide. Overwatch Imaging, based in Hood River, OR, designs and manufactures precision airborne imaging systems for piloted aircraft and drones. Its systems include custom onboard AI software intended for large-scale, time-critical special mission and civil applications. The company says its precision imaging systems help organizations quickly find what they are looking for from the air so they can focus less on the search and more on the best response. Specific uses of Overwatch Imaging systems include automated land surveillance, maritime patrol and search, and linear infrastructure inspection. Overwatch announced the close of an $11.15 million Series A round co-led by Squadra Ventures and Shield Capital, with strategic participation from L3Harris Technologies, Bridger Aerospace and the Portland Seed Fund.