Participated · Equity · May 2025

VFlowTech develops vanadium redox flow battery (VRFB) systems and hybrid batteries for long-duration energy storage and offers an AI-driven cloud energy management platform to manage, monitor and optimise distributed renewable assets. The platform also provides energy trading and ancillary services for the grid. Established in 2018 and based in New Delhi, the company has deployed its long-duration storage systems across more than 10 countries. VFlowTech raised $20.5M to support strategic expansion into India’s clean energy sector and to scale hiring across engineering, research and operations. The company plans to advance vanadium recycling and create innovations around electrolyte manufacturing in India to build local supply chain efficiencies. VFlowTech manufactures vanadium redox flow batteries branded as PowerCubes, featuring a power stack design that enables a more compact form factor, higher-than-industry round-trip efficiency, reduced parasitic losses and operation above 55°C. Different PowerCubes can be deployed from residential settings to solar and wind farms; the company has commercially deployed 30 kWh and 100 kWh units for residential applications and completed production of its MWh system for large-scale microgrid applications. Led by CEO Dr Avishek Kumar, VFlowTech employs a team of 60 people. The company raised US$10M in a Series A to support scaling and manufacturing. It intends to use the funds to set up a 200 MWh production line capacity and scale manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions. VFlowTech also plans to expand its market presence to Türkiye, the US, Japan and India with new partners and to strengthen the management team over the next year. VFlowTech is a Singapore-based energy storage solutions provider that designs and manufactures long-duration modular batteries. Led by co-founder and CEO Dr. Avishek Kumar, the company has developed three modular systems—5 kW/30 kWh, 10 kW/100 kWh and 100 kW/500 kWh—that can be scaled to multi‑MWh deployments. A 10 kW/100 kWh system can provide up to two days of energy autonomy for small households and remote communities, the company says. In the past year VFlowTech has been delivering solutions to independent power producers, EPCs and other users worldwide and has a pipeline of large-scale infrastructure projects in markets including Australia and Africa. VFlowTech raised US$3M in a Pre‑Series A round and intends to use the funds to expand manufacturing and distribution of its long-duration modular batteries. The company aims to help remote and rural communities transition to low-cost reliable cleantech solutions and become diesel-free.

Participated · Series A · Apr 2025

Solu Therapeutics is a biotechnology company pioneering therapies that eliminate disease-driving cells across cancer, immunology, and other therapeutic areas using proprietary CyTAC and TicTAC platforms. Its lead candidate, STX-0712, is a CyTAC designed to target CCR2 and selectively eliminate CCR2-positive malignant monocytes, with an initial focus on CMML and other hematologic malignancies. The company has initiated a first-in-human, open-label, multicenter Phase 1 trial of STX-0712 with a two-part design: Part A dose escalation to determine the maximum tolerated dose and/or minimum effective dose in resistant/refractory CMML, and Part B to evaluate safety, tolerability, recommended Phase 2 dose, and preliminary antitumor activity. Solu presented preclinical ex vivo data at the 2024 ASH Annual Meeting showing robust activity of STX-0712 against CCR2-positive monocytes from CMML patient samples. Proceeds from the recent financing will be used to complete dose escalation and expansion of STX-0712, generate new development candidates including a first-in-class mast cell depletor for immunological diseases, advance additional discovery programs, and explore new applications for the CyTAC and TicTAC platforms. The company was cofounded by Longwood Fund and is based in Boston. Solu Therapeutics is developing therapeutics to eliminate disease-driving cells in cancer, immunology, and autoimmunity using its proprietary CyTaC (Cytotoxicity Targeting Chimera) platform. CyTaC molecules, licensed from GSK, aim to unlock antibody-intractable cell surface targets and combine the potency of biologics with the broad target binding of small molecules. Characteristics of the platform include unlocking new tumor-associated antigens to eliminate cancer cells, depleting pathogenic immune cells, and extending the half-life of small-molecule antagonists and agonists. The company intends to use the financing to develop the proprietary CyTaC platform and associated drug candidates in-licensed from GSK. Under the license, GSK received equity in Solu and will receive milestones and royalties on products derived from the CyTaC platform. Solu is led by co-founder and CEO David Donabedian, Ph.D., and is based in Boston, MA.

Participated · Equity · Nov 2024

EarthOptics leverages advances in soil-sensing technologies, genomics, and data science to deliver predictive insights into chemical, physical, and biological soil properties. It combines lab-based analysis with field-based sensors to give farmers and ranchers actionable recommendations to optimize spending and unlock sustainable farming opportunities. The company completed a strategic merger with Pattern Ag, combining EarthOptics’ proprietary field-based sensing technologies with Pattern Ag’s lab-based analysis to offer comprehensive soil data. Led by CEO Lars Dyrud, EarthOptics operates offices in Raleigh, North Carolina; Emeryville, California; Arlington and Blacksburg, Virginia; Minneapolis, Minnesota; and Fayetteville, Arkansas, and maintains two laboratories in Emeryville and Memphis, Tennessee. The company intends to use new funding to accelerate technological innovation, broaden its geographic reach, and consolidate its position as an authoritative source for soil insights. EarthOptics develops next-generation soil-sensing technologies that combine ground-based sensors, satellites, physical soil samples, machine learning models, and agronomic expertise to deliver detailed soil measurements. The company's platform provides insights to help farmers optimize fertilizer applications, inform tillage decisions, and quantify carbon sequestration. EarthOptics plans to use its latest funding to expand access to its tools and deliver hyper-accurate soil insights. Founded in 2018 and based in Arlington, VA, the company serves growers and ranchers seeking data-driven land-management decisions. The company is led by CEO Lars Dyrud. The article reports a recent financing that will support its growth and product expansion efforts. EarthOptics has developed an imaging suite that uses ground-penetrating radar and electromagnetic induction to produce deep maps of soil physical and chemical composition. Its commercial products, GroundOwl and C-Mapper (C for carbon), reconcile no-contact sensor data with traditional lab samples via machine learning trained on tens of thousands of ground-truth measurements. The hardware can be mounted on ordinary tractors or trucks and pulls readings every few feet, reducing physical sampling from hundreds of samples to dozens. The company’s outputs can be used to create meter-scale treatment maps or to feed variable-depth robotic field machinery such as smart tillers. Management positions the product as a cheaper, faster, and more precise alternative to traditional soil sampling and as foundational data for automated and robotic farming. Financially, EarthOptics raised a $10.3M A round to scale its two existing products and to develop a moisture-mapping product.

Participated · Series A · Apr 2024

Enlaza Therapeutics develops covalent protein therapeutics using its proprietary War-Lock platform to create site-specific covalent coupling driven by drug binding. The platform is designed to produce highly specific protein warheads that covalently bind intended targets, aiming to improve efficacy while reducing toxicities and enabling lower, more frequent dosing. Enlaza has generated preclinical oncology data showing efficient tumor penetration, rapid systemic clearance, high tumor retention, and low off-target liabilities. The company is building a diversified pipeline of first-in-class covalent biologics for oncology and other therapeutic areas and plans to advance lead assets toward clinical development. The recent financing will be used to further develop the War-Lock technology and support advancement of wholly owned pipeline programs. Enlaza is based in La Jolla, Calif. Enlaza Therapeutics is pioneering a War-LockTM covalent biologic platform that enables site-specific introduction of unnatural amino acids to create covalent protein therapeutics. The platform generates highly specific therapeutic warheads that lock onto targets and can be adapted into antibody-drug conjugates or radioligand therapies without half-life extension engineering. Enlaza is focused initially on developing novel, differentiated cancer therapeutics designed for targeted efficacy and low toxicity. Preclinical oncology data show fast tumor penetration, high systemic clearance, high tumor retention, and low off-target toxicity. The company launched with a $61 million seed financing to further advance the War-Lock platform and build a pipeline of covalent biologics. Its War-Lock technology is exclusively licensed from UCSF and The Scripps Research Institute.

Participated · Equity · Jun 2023

Veralox Therapeutics is a clinical-stage biotechnology company developing first-in-class therapeutics that target the 12-lipoxygenase (12-LOX) pathway. Its lead candidate, VLX-1005, is in development for heparin-induced thrombocytopenia (HIT) and has U.S. orphan drug designation and FDA Fast Track designation. The company is preparing a Phase 2a proof-of-concept study in HIT and is also developing second-generation products for type 1 diabetes and other immune-mediated and inflammatory diseases. In June 2023 Veralox announced a $24 million financing that the company said fully funds the Phase 2a clinical program for VLX-1005. In conjunction with the financing the company named Jonathan Mow as CEO and added Peter Young of Pappas Capital to its board, with Meg Wood of NYBC Ventures joining as an observer. Veralox is based in Frederick, Maryland. Veralox Therapeutics is a biotechnology company developing small-molecule therapeutics to treat the underlying causes of diseases with significant unmet medical needs. The company is led by University of Maryland graduate Jeffrey Strovel, PhD, who serves as chief executive officer. Veralox announced the closing of a $16 million Series A financing in June 2021. Investors in the round include Sanofi Ventures, Genesys Capital, Hatteras Venture Partners, JDRF T1D Fund, Point Field Partners, VTC Innovation Fund, the University System of Maryland Momentum Fund, and TEDCO. Veralox was an early portfolio company of the USM Momentum Fund, which made a $500,000 seed investment in 2019. The Momentum Fund has also provided connections to potential partners and strategic counsel, which the company cites as contributing to its growth. Veralox Therapeutics is a preclinical-stage biopharma company focused on developing first-in-class inhibitors of 12‑LOX, an enzyme implicated in platelet activation and cellular stress signaling. Its lead candidate, VLX-1005, was discovered and developed in collaboration with UC Santa Cruz, Thomas Jefferson University, the NIH, and Eastern Virginia Medical School. The company intends to develop VLX-1005 initially for heparin-induced thrombocytopenia and thrombosis (HITT/HIT) and is advancing second-generation products for type 1 diabetes and other immune-mediated and inflammatory diseases. The new capital will be used to support preclinical development and to prepare for clinical studies in patients. Founded in 2017 and headquartered in Maryland, Veralox was founded by Jeffrey Strovel, David Maloney, and Matthew Boxer. No revenues or operating metrics were disclosed in the announcement.