The Venture Codex

Participated · Series A · Apr 2026

Subra develops superconducting cable technology aimed at enabling zero-loss power transmission and supporting fusion energy applications. Following the Series A raise, Subra is acquiring THEVA to combine its cable technology with THEVA's manufacturing expertise and proprietary material science, including high-temperature superconductors and thin-film deposition. The integration is intended to create industrial-scale production capabilities and vertically integrate R&D and manufacturing. The combined company will be headquartered in Denmark while maintaining operations in Germany to scale production and serve international markets. Subra plans to focus on applications across energy systems, infrastructure, research, and industrial markets as it seeks to become a European leader in superconductors.

Participated · Series C · Oct 2025

Hemab Therapeutics is focused on creating prophylactic, antibody-based treatments that address the underlying causes of serious bleeding disorders rather than just managing acute events. Its lead asset, sutacimig (formerly HMB-001), has completed Phase 2 in Glanzmann thrombasthenia and is being prepared for a registration study in 2026, with a parallel Phase 2 program planned for Factor VII deficiency. The company’s second clinical candidate, HMB-002, targets the C-terminal CK domain of Von Willebrand Factor to raise endogenous VWF and Factor VIII levels and is advancing toward registration studies in Von Willebrand disease. Backed by its “Hemab 1-2-5” strategy, the team is also moving additional programs forward, with HMB-003 expected to enter the clinic in the first half of 2026. Hemab’s dual headquarters in Cambridge, Massachusetts, and Copenhagen, Denmark, give it access to both U.S. and European scientific ecosystems. The fresh Series C financing provides $157 million to fund late-stage trials, expand the pipeline, and reinforce the company’s goal of becoming “the ultimate clotting company.”

Led · Series E · Aug 2025

Twin Health combines advanced medical science and technology with a clinical care team to help people take control of conditions like type 2 diabetes, prediabetes, and obesity. Its metabolic health benefit is offered exclusively through employers or health plans. The company’s Digital Twin technology learns a member’s unique metabolism from smart devices, meal logs, and lab work to provide real-time, personalized recommendations on nutrition, activity, sleep, stress, and more. A clinical care team then guides the member on a clear path toward their health goals. Twin Health plans to use new funding to expand operations, advance product development, and broaden its business reach. The company is based in Mountain View, California. Twin Health builds the Whole Body Digital Twin™, a dynamic, AI-powered model of each individual’s metabolism designed to reverse, improve, and prevent chronic metabolic diseases. Led by CEO and founder Jahangir Mohammed, the model is constructed from thousands of daily data points drawn from wearable sensors, clinical lab parameters, and self-reported preferences. Through a mobile app, it delivers individualized, timely guidance to members and Twin Health’s licensed clinical care teams across nutrition, sleep, activity, and stress. The company’s chronic metabolic disease solution is available today through employer and health plan partners. Twin Health raised $50M and intends to use the proceeds to continue expanding its technology and clinical service solutions for more members across the United States. The offering emphasizes personalized, data-driven interventions to manage metabolic health. Twin Health built the Whole Body Digital Twin™, an AI-powered, individualized metabolic model that ingests thousands of daily data points from non-invasive wearable sensors and self-reported preferences to provide personalized nutrition, sleep, activity and breathing guidance. The service combines continuous glucose monitors, fitness watches, comprehensive blood tests, an app, consultations with healthcare providers and Twin coaches, and is delivered through partner programs such as employer benefits and health insurance plans. Twin's clinical research includes the world’s first randomized controlled trial using digital twin technology, with published early RCT data showing a mean HbA1c reduction of 3.1 (baseline 8.7), over 90% achieving type 2 diabetes reversal (HbA1c <6.5), and 92% eliminating diabetes medications including insulin. Patients in the trial also averaged a 9.1 kg (20 lb) weight reduction and, among those with elevated ALT, an average ALT reduction of 24 units/L; control participants did not achieve reversal or comparable improvements. Founded in 2018 by Jahangir Mohammed, the company says its technology continuously monitors individuals' metabolism to enable timely, data-driven interventions addressing root causes of chronic metabolic disease. Twin Health announced a $140 million Series C to scale the Whole Body Digital Twin™ service in the U.S. and globally.

Participated · Seed · Aug 2025

Founded in 2023 and headquartered in Odense, Denmark, Dropla Tech develops edge-AI systems and modular unmanned ground vehicles for explosive-threat detection and tactical operations. Its flagship product, Blue Eyes (NATO Stock Number 7010-61-019-5238), is an edge-AI system deployed with Ukrainian Armed Forces and security services that detects mines, IEDs, and ambush drones in real time without cloud connectivity. Blue Eyes has logged more than 5,000 confirmed detections in Ukraine with reported accuracy above 90%. The company also produces Dropla 4×4 and Dropla 6×6 UGV platforms supporting CASEVAC, logistics, ISR, RWS, and counter-UAS configurations, and a Dropla Seer multi-sensor reconnaissance complex. Dropla Tech has pursued European series production and announced ambitions to scale production capacity to up to 3,000 UGVs per year and participate in the Build with Ukraine program. It has integrated its UGVs with Germany's MOSAIC UXS mission software and signed a memorandum of cooperation with Ukrainian Frontline Robotics.

Participated · Series C · Sep 2024

FlexiLoans is a digital-first fintech lender that originates loans to micro, small and medium enterprises using alternative data from e‑commerce and payment platforms. The company operates a 100% digital origination model and says it can approve loans within 48 hours, serving more than 10 million SMEs through partnerships with Flipkart, Amazon and Paytm. To date FlexiLoans has disbursed over INR 7,000 crore in loans and targets raising its AUM from about INR 2,000 crore to between INR 3,500–4,000 crore. In FY24 revenue grew 2.4x to nearly INR 263 crore while profits fell about 50% to INR 3.3 crore, reflecting rapid expansion costs. The product focus is collateral-free working capital for businesses in tier‑II and tier‑III cities, enabled by alternative-data credit underwriting. FlexiLoans is a Mumbai-based fintech that provides collateral-free credit to MSMEs through a digital lending platform. The company uses in-house technology and risk models to score borrowers and can approve loans in less than 48 hours. It has partnered with more than 120 businesses, including Amazon, Flipkart, Pine Labs, BharatPe, and Mswipe. FlexiLoans has raised more than $115 million to date, including a $90 million Series B in June 2022 that included debt and equity from Fasanara Capital, MAJ Invest, and the family office of Caravel Group chairman Harry Banga, alongside investors such as Sanjay Nayar. Operating revenue rose from Rs 51.5 crore in FY22 to Rs 108.5 crore in FY23, an increase of 110.7%. The company has been without new funding for about 20 months and is using new debt to support continuing operations. FlexiLoans.com is an Indian MSME-focused fintech lending company that provides 'loans at a click' to small businesses via 100% digital originations and zero branches. The firm reports having disbursed over INR 1,700 crores (about $220 million) to MSMEs across more than 1,600 cities. Its core product offerings and channels include platform lending, co-lending, BNPL and supply-chain finance backed by technology assets for lending, pricing and customer journeys. The company plans to focus on technology development and to more than double its MSME loan book via co-lending, BNPL and supply-chain finance platforms. It will continue investing in customer-journey automation, risk management and analytics to strengthen underwriting and operations. FlexiLoans positions itself to benefit from the government’s fintech push for the MSME sector and to support broader Atmanirbhar Bharat objectives. FlexiLoans.com is a Mumbai-based fintech lender. The company operates in digital lending and is described in the article as a fintech lender. It announced that it has raised about $20 million (Rs150 crore). The funding was provided through a mix of equity and debt financing. The article does not provide details on the investors, use of proceeds, or operating metrics. No future plans or financial projections were included in the report. FlexiLoans is a digital lending platform focused on providing quick and transparent funding access to small businesses and supply-chain participants. The Mumbai-based fintech employs multiple data sources and non-traditional credit-scoring parameters in a proprietary credit engine to deliver loan decisions within 48 hours and aims to cut processing to under 24 hours. It launched operations in April 2016 with partners such as Uber and Shopclues and has integrated with major e-commerce players including Amazon, Flipkart, Snapdeal, Jabong and others. The company introduced loans against POS transactions, which produced a major spike in volumes. Its mobile app receives over 4,000 applications per month—primarily from tier-two to four cities—with an average ticket size of Rs 5 lakh across more than 175 cities and plans to expand to 500 cities. FlexiLoans plans to use new funding to expand its loans and supply-chain financing segments and to scale up operations.