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The Venture Codex

MassVentures

1075 Main Street, Suite 100, Waltham, MA, 02451, United States

Overview

MassVentures meets critical capital needs in the Massachusetts innovation economy, providing seed and early-stage venture funding to high growth startups as they move from concept to commercialization. The Boston-based venture firm was formed in 1978 as a quasi-public corporation by the Legislature of the Commonwealth of Massachusetts, governed by an independent Board of Directors, and managed by experienced venture capitalists. Leveraging the entrepreneurial spirit, educated workforce, and centers of innovation in Massachusetts, MassVentures has a track record of success with early-stage ventures.

Total investments
37
Lead investments
7
Investments · 12mo
2
Active investors
10

Sector focus

  • Information Technology
  • Media and Entertainment
  • Security
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Investment portfolio

  • Myrias Optics

    Led · Seed · Feb 2026

    Myrias Optics is a provider of wafer-level metaoptics, diffractive optics, and AR waveguides built on a proprietary all-inorganic additive nanoimprinting process. Its technology delivers thermally stable, high-performance optical components with higher refractive indices, improved alignment tolerance, and lower cost than conventional semiconductor-based manufacturing. The company’s products target system designers in augmented reality headsets, high-speed AI data-center interconnects, consumer electronics, industrial equipment, and medical imaging platforms. Customers engage Myrias to overcome bottlenecks in durability, environmental stability, and scalable production economics. Proceeds from recent funding are being used to scale manufacturing capacity, expand pilot production lines, and execute active customer programs with Tier-1 supply-chain partners. Since inception, the firm has secured $6.9 million in capital, including venture funding and a National Science Foundation Direct-to-Phase II award, to accelerate commercialization of its metaoptic solutions.

  • florrent

    Led · Seed · Sep 2025

    florrent is an energy technology company that produces supercapacitors using a proprietary bio-derived activated carbon called Contoured Carbon. Their material diverts domestic biomass waste from landfills and sequesters carbon while enabling high-power, lower-cost, smaller-footprint energy storage. florrent’s supercapacitors are made in the U.S. and designed to integrate front-of-meter and behind-the-meter, offering grid-forming capabilities, fast frequency response, and improved power quality. The company emphasizes social and environmental impact through sourcing strategies that create economic participation for historically underserved communities. florrent plans to scale production of Contoured Carbon, expand product development, and commercialize broadly while building a pilot manufacturing facility in Northampton, MA, scheduled to begin operations in 2026. The business frames its product as a solution to a reported $150B/year power quality problem during the ongoing grid transformation.

  • Electrified Thermal Solutions

    Participated · Series A · Dec 2024

    Electrified Thermal Solutions develops the Joule Hive Thermal Battery (JHTB), an MIT-developed system that uses electrically and thermally conductive patented bricks to generate, store, and deliver near-flame temperatures up to 1,800°C. The JHTB is positioned to electrify industrial heat by leveraging renewable electricity to replace fossil-fuel combustion in boilers, dryers, and furnaces. The company emphasizes integration with existing infrastructure and targets sectors including cement, mining, metals, chemicals, power, and food processing. Electrified Thermal says industrial heat processes account for over 20% of global greenhouse gas emissions, making its zero‑carbon heat approach relevant to hard‑to‑abate industries. The company plans a commercial demonstration in 2025, aims to commercialize the JHTB by 2026, and targets deploying 2 GW of thermal power capacity by 2030. It raised $19 million in venture financing to accelerate its commercial demonstration, scale manufacturing, and expand its industrial customer base. Electrified Thermal Solutions builds the Joule Hive — a thermal battery made from electrically conductive 'e-bricks' doped with semiconductor materials. The bricks are heated by running electricity through them like a toaster, can store heat for hours or days, and ETS says over 95% of input electricity can be recovered as heat. A stack can reach temperatures nearing 2,000°C, enabling use in steel, glass, cement and chemical plants, as well as steam generation or power turbines. ETS says its heat is at least three times cheaper than hydrogen and can be competitive with natural gas in regions with low electricity prices or when a $50/metric-ton carbon price is applied. The company has worked with a brick maker to adapt recipes for industrial-scale equipment, is operating a pilot system about the size of an elevator, and is designing a shipping-container-scale commercial unit. ETS plans to sell either heat from the batteries or the complete system; the technology stems from about a decade of work beginning with CEO Dan Stack's graduate research at MIT. Financially, ETS has raised $4.75 million to date, including a $4.5 million seed round led by Clean Energy Ventures.

  • Adden Energy

    Participated · Series A · Oct 2024

    Adden Energy develops lithium-metal, self-healing solid-state batteries aimed at the electric vehicle market. Its technology, originally developed at Harvard and spun out in 2022, uses a self-healing solid-state separator that prevents lithium dendrite growth. Adden’s prototypes charge in less than 10 minutes, deliver nearly 10x the lifetime of conventional batteries, and can double driving range while reducing cost per kilowatt-hour by about 30%. The company has demonstrated EV-compatible pouch-cell form factors and claims its technology enables fast charging and higher energy density. Adden plans to scale production by building a roll-to-roll pilot line at its Waltham, MA headquarters funded by the Series A. The company has received support from both federal programs and the State of Massachusetts. Adden Energy is developing and scaling a solid-state lithium-metal battery technology licensed exclusively from Harvard University aimed at enabling fast-charging, long-life EV batteries. The lab-scale prototype from Professor Xin Li’s group has demonstrated charge rates as fast as three minutes, capacity retention for over 10,000 cycles, high energy density, and material stability that mitigates dendrite growth. The company plans to scale the technology to a palm-sized pouch cell and then toward a full-scale vehicle battery within the next three to five years. Adden was co-founded in 2021 by Xin Li, William Fitzhugh, and Luhan Ye, with Fred Hu of Primavera Capital also a founder. The research underlying the technology has been published in Nature and was supported by multiple Harvard and external funding sources. Adden is based in Waltham, Mass., and has completed initial seed financing to advance commercialization.

  • AeroShield

    Participated · Equity · Jul 2024

    AeroShield develops patented transparent silica aerogel sheets that can be added inside double-pane windows and doors to improve energy performance by up to 65%. Its 4mm material reportedly outperforms triple-pane windows at double-pane thickness and weight, enabling lower-cost high-performance window products. The company opened a 12,000 square-foot manufacturing and R&D facility in Waltham, Massachusetts equipped with aerogel R&D labs, manufacturing equipment, assembly lines, and testing equipment. AeroShield plans to manufacture full-sized products (including double-pane windows), expand its team to more than 30 employees, and use the facility as its R&D headquarters as it develops next-generation products. While current R&D is focused on residential windows and doors, the company cites wider applications including commercial windows, grocery freezer doors, ovens, EV windows, and solar thermal energy. AeroShield was spun out of MIT and is led by CEO Dr. Elise Strobach. AeroShield Materials developed highly transparent silica aerogel sheets that can be bonded to glass to dramatically improve window insulation. Their patented material can be added as a coating to the inner glass of windows and doors to improve energy performance by up to 65%. Just 3mm of AeroShield’s material inside a window enables triple-pane or better performance at double-pane thickness and weight, addressing cost, weight and aesthetic barriers to wider adoption. R&D is currently focused on residential windows and doors, with potential applications in commercial windows, grocery-store freezer doors, ovens, electric vehicle windows, and solar thermal energy. The company plans to use seed funding to expand manufacturing capabilities, grow its team, and accelerate product development and partnerships to bring its first AeroShield-insulated products to market. AeroShield is based in Boston, MA and was founded by Aaron Baskerville-Bridges, Dr. Elise Strobach, and Dr. Kyle Wilke.

Team