Participated · Series G · Aug 2026

Form Energy develops iron-air long-duration batteries capable of delivering up to 100 hours of discharge. Its chemistry relies on iron oxidation and reduction, enabling lower-cost storage by avoiding higher-priced minerals like lithium, cobalt, and nickel. The company has secured large commercial customers including Google, Crusoe, Xcel Energy, and FuturEnergy Ireland and reports a commercial project backlog of about 80 gigawatt-hours. About 80% of the company’s materials supply is sourced from the U.S., with the remainder from Europe and Asia. Form is expanding manufacturing capacity in West Virginia following its recent financing. The company’s positioning and technology aim to address growing demand for long-duration storage as U.S. electricity demand rises and renewable generation expands.

Led · Equity · Jul 2026

Udaan operates a B2B marketplace linking manufacturers and wholesalers to small retailers across categories including electronics, groceries, pharmaceuticals, and general merchandise. The company says it serves more than three million small retailers and is estimated to account for roughly 70 percent of India's B2B ecommerce market by volume. Founded in 2016 by three former Flipkart engineers, Vaibhav Gupta became CEO in 2021 while co-founder Sujeet Kumar remains on the board. Udaan has faced recent financial strain, including a default on $170 million in convertible notes that matured on June 30, and has pursued multiple funding rounds to shore up its finances. It raised $75 million in February 2025 and a $114 million Series G in June 2025 that valued the company at under $2 billion, down from a prior $3 billion peak. The company is pursuing a balance-sheet restructuring and new capital to stabilize its finances ahead of an anticipated IPO within the next two years.

Participated · Series D · Jun 2026

Nearfield Instruments designs next-generation scanning probe microscopy systems and the proprietary QUADRA platform to deliver in-line 3D nanometer-scale metrology and non-destructive, high-throughput atomic force microscopy (AFM) with full 3D imaging capabilities. Its systems target critical measurements including sidewall metrology for high-aspect-ratio trenches, GAA recesses, vias, multi-layer stacks, High-NA EUV, CFET architectures, and hybrid-bonded 3D integration. The company emphasizes automation, fast measurement cycles, and compatibility with fab standards for integration into high-volume manufacturing environments. Nearfield works closely with leading semiconductor manufacturers and research partners and operates R&D and support activities across multiple Asia-Pacific and Western markets. The company employs about 450 people and was founded in 2016 as a spin-off from TNO, headquartered in Rotterdam. Following the $380 million Series D at a $1.6 billion valuation, Nearfield plans to expand production capacity, global customer support, Applications Centers of Excellence, and collaborative R&D with chipmakers.

Participated · Series C · Jun 2026

PhysicsX offers an AI-based engineering platform that predicts physical behavior in seconds rather than hours or days, enabling engineers to test many more design variations. Its platform is used across aerospace and defense, semiconductors, industrial machinery, automotive, energy and materials. The company plans to expand its platform capabilities, develop larger pre-trained "Large Physics Models," and grow its geographic presence including the U.S. and a new office in Singapore. Recent financing will fund that expansion and product development. Financially, PhysicsX reported rapid commercial momentum: it doubled recognized revenue and tripled booked revenue in the past year while more than doubling its customer count. The company has grown its team to over 300 employees in the last 12 months.

Participated · Series C · Mar 2026

NoTraffic develops an AI-powered mobility platform that connects and optimizes traffic signals as a cloud-based digital grid to improve efficiency, sustainability, and safety. The company operates a proactive Operations Center offering 24/7 monitoring, remote diagnostics, and over-the-air updates to support agency teams and deployments. Its platform has been adopted by traffic agencies across more than 40 U.S. states and Canada, including deployments in Houston, Phoenix, and Oklahoma. The company is led by CEO Tal Kreisler and is based in Overland Park, KS. Financially, NoTraffic recently completed a $90M Series C to fund expansion of operations and further product development.