The Venture Codex

Led · Series C · Dec 2024

Raptor Maps develops an integrated operating system for the solar industry called Raptor Solar, which provides a system of record and workflows for asset owners to build, manage, and operate solar sites. The company’s recent product, Raptor Solar Sentry, orchestrates solar operations and maintenance work by people and robotics and is said to enable double-digit gains on financial returns. Raptor Solar aims to improve asset resilience and energy yield while reducing risk and costs for owners. The company plans to accelerate product development with a focus on solar automation, work management, and machine-learning insights. Raptor Maps also intends to expand its team with further investment in software engineering and data science. The announcements frame the company as positioned to help scale solar energy and improve portfolio performance globally. Raptor Maps builds Raptor Solar, a software-as-a-service platform that standardizes and analyzes data across the entire solar lifecycle, from financing and development through operations. The platform serves as an auditable system of record with digital twins, aerial thermal inspection analytics, serial number mapping, warranty claim features, equipment records and mobile productivity tools. Subscribers can quantify financial loss, benchmark portfolios against a global database and streamline warranty and supply-chain verification. Its insights are powered by machine learning and an industry-leading data model created from over 50 GW of solar across 40 countries; the company’s 2022 Global Solar Inspection Report found 2.6% of solar power is affected by anomalies. Customers include large owners, operators and builders such as Tesla, SOLV Energy, Rosendin Electric, Cypress Creek Renewables and McCarthy. The company plans to accelerate hiring and invest in product, software and data science to add workflow automation, work orders, investor reporting and ML-driven insights; Raptor Maps is based in Boston and is a Y Combinator alumnus with founders from MIT. Raptor Maps is a Boston, MA-based solar software company that provides a solar lifecycle management platform used for project finance, development and asset management across the industry. Led by co-founder and CEO Nikhil Vadhavkar, the company has managed the project finance and asset management of over 25 GW in 35 countries. Its customer base includes Enel Green Power, Greenbacker Renewable Energy, McCarthy Building Companies, QE Solar, SOLV and several publicly traded solar panel manufacturers. Raptor Maps raised $5M in a Series A and will use the funding to build on its software platform and expand its business reach. The platform supports multiple segments of the solar value chain from developers to asset owners and O&M providers. Raptor Maps is a Cambridge, Massachusetts–based developer of a drone-enabled technology platform for agriculture. The company provides farmers with a system combining drones, tractor-mounted sensors and software to map, analyze and measure crop quality during the growing season. Its tools help growers make more informed decisions, reduce unnecessary cost and labor, and run statistical A/B testing on chemicals, fertilizers, seed types and techniques. Raptor Maps is led by CEO Nikhil Vadhavkar. The firm is developing a software tool designed to work across all crops. Financially, the company received an investment from Airware’s Commercial Drone Fund (amount undisclosed).

Led · Series B · Apr 2024

Kode builds a cloud-first operating system that ingests and normalizes data from more than 130 different building systems (air handlers, fire alarms, elevators, sensors, EV chargers, etc.) and runs applications on top to optimize operations. The company offers an app marketplace with tools for monitoring energy use, tracking carbon emissions, and measuring water consumption, features that also help customers comply with rules such as New York City’s Local Law 97. Kode’s product is used by building managers and owners on five continents and includes Fortune 100 companies and higher education institutions as customers. The company reports it has been profitable from day one, customer churn of zero percent, and annual recurring revenue that has grown 200% year-over-year for the past three years. Kode employs more than 40 people in Detroit and about 150 in Kosovo, plus additional staff elsewhere. It plans to expand its app marketplace and further develop AI-driven optimization for building operations.

Led · Series B · Apr 2024

Kode Labs develops KODE OS, a data-centric operating system and SaaS smart building platform that integrates building management systems, IoT, and operational systems into a unified cloud solution. The platform is designed to optimize building performance, reduce energy usage and carbon emissions, and streamline costs associated with multiple tracking and reporting platforms. Kode Labs delivers its technology via a software-as-a-service model. Founded in October 2017 by Edi and Etrit Demaj and Gentrit Gojani, the company has partnered with customers including QuadReal, Bedrock Detroit, Stream Realty, Hines, Ford and other global corporations and REITs. The company intends to use new funding to accelerate expansion and increase market share. It is based in Detroit, Michigan. Kode Labs delivers KODE OS, a cloud-native smart building operating system offered via a software-as-a-service (SaaS) model that integrates diverse building management and operational systems. The platform is designed to standardize and optimize building performance, reduce energy use and carbon emissions, and automate operations. Since launching, the company has partnered with notable customers including QuadReal, Bedrock Detroit and Stream Realty. Kode Labs was founded by brothers Edi and Etrit Demaj in October 2017 and is based in Detroit, MI. The company intends to use new funding to continue investing in research and development. The articles do not disclose revenue or user metrics.

Led · Equity · Apr 2023

Miovision is a Kitchener, Canada–based provider of scalable intelligent transportation solutions that use AI to improve traffic efficiency and safety at intersections. Its platform detects vehicles and pedestrians and helps communities reduce traffic congestion and vehicle emissions across different road users. Since 2005 the company’s systems have detected over 30 billion vehicles and 1.5 billion pedestrians, and it serves nearly 2,000 customers in 63 countries. Miovision also maintains offices in Germany, Serbia, and the US. The company raised $260M in funding and plans to use the capital to accelerate organic and inorganic growth and to increase investment in product development. Miovision is led by CEO Kurtis McBride. Miovision provides a computer vision, artificial intelligence and advanced modelling platform that enables cities to measure, manage, and optimize traffic congestion and safety. Founded in 2005 by CEO Kurtis McBride, the company has offices in Kitchener, Canada and Cologne, Germany. Miovision serves over 17,000 municipalities worldwide. As part of the investment, TELUS will become the company's preferred wireless provider and will leverage its dedicated IoT network to connect Miovision-equipped traffic signals. That connectivity will allow cities to remotely access, analyze, and act on data generated at intersections. The company intends to use the funds to continue to expand its business reach globally. Miovision develops smart intersection technology and AI-based video traffic data products that enable real-time adaptive traffic control and infrastructure communication. Its open-architecture platform is designed to connect intersections to other mobility solutions such as emergency vehicle preemption, connected cars, public transit, pedestrians and cyclists. Miovision’s solutions have been installed by more than 100 state transportation departments and city agencies in North America, and its AI video traffic product has been used in over 17,000 municipalities worldwide. The company says the financing will help weave its smart intersection technology deeper into smart-city deployments. Miovision was founded in 2005 and has offices in Kitchener, Canada and Cologne, Germany. Since inception the company has achieved a revenue CAGR of over 50%. Miovision builds traffic-management software used by cities to improve traffic flow, make roads safer, and help plan streets for drivers, cyclists and pedestrians. The company works with 17,000 municipalities worldwide. The Ontario government is investing $1.5 million through the Southwestern Ontario Development Fund to help Miovision grow its team and move into Catalyst137, a 475,000-square-foot IoT hub. Miovision also leveraged $13.5 million of its own funding to support the move into Catalyst137. The project is expected to create and retain 384 positions and be completed by December 2021. CEO Kurtis McBride, an initial leader behind Catalyst137, said the investment will help the company scale and make a bigger impact with cities. Miovision is a traffic systems technology provider that launched the Scout Video Collection Unit in 2011 to help collection firms, engineering firms and government agencies analyze traffic data. Founded in 2007 out of the Accelerator Centre at the University of Waterloo Research & Technology Park and based in Kitchener, Ontario, the company serves more than 500 customers in 50 countries. Led by CEO Kurtis McBride and COO Tony Brijpaul, Miovision is shifting focus toward cloud-based traffic management to underpin smart city applications and to directly improve traffic patterns and flow. The company completed a CAD$30m (USD$24m) Series B financing and intends to use the funds to expand its team and accelerate its technology. Previous equity investments totaled CAD$5.75m from Investeco Capital, Renewal Funds, MacKinnon, Bennett & Co., a local angel network and private employee investments. Miovision raised the majority of this financing from Canadian investors.

Participated · Equity · Apr 2022

Viral Nation was founded as an influencer marketing agency in 2014 and has since evolved into a global digital and social innovation group that includes VN Marketing, VN Talent, VN Sports, and VN Tech. The company serves a roster of Global 500 clients, including Anheuser-Busch, The Coca-Cola Company, Disney, Hasbro, Meta, Tencent, Tim Hortons, TJX, Uber, and Vivid Seats. With the new financing, Viral Nation plans to accelerate the public release of SaaS technologies that currently power internal operations and to introduce AI-powered solutions for the creator market and responsible social engagement. The company intends to grow its presence in new and existing markets, expand content services for creators, and double the size of its in-house engineering team. Financially, Viral Nation has secured CAD $250 million to fund these initiatives, with $150 million allocated to immediate growth plans and an additional $100 million to be deployed over the next 18 months. Board expansion tied to the investment will add Eldridge and Maverix representatives to support scaling and product development.