Led · Equity · Aug 2021

Ambri develops and is commercializing a liquid-metal, long-duration battery technology for grid-scale and large industrial energy storage. Its systems use calcium and antimony electrode-based cells and containerised systems designed to deliver 4–24 hour durations, tolerate any climatic condition, and last over 20 years with minimal degradation. The company says its systems are more economical than lithium-ion for high-usage applications such as shifting daytime solar generation to peak periods, and can scale from 10 MWh to over 2 GWh. Ambri plans to use the $144M financing to commercialize its daily-cycling, long-duration systems and to design and construct high-volume manufacturing facilities in the U.S. and internationally, including a domestic manufacturing facility. Reliance New Energy Solar Ltd. has been selected as a strategic partner to develop and manufacture Ambri’s batteries in India. The company has also signed a long-term antimony supply agreement with Perpetua Resources to secure its supply chain. Ambri began as a liquid metal battery project at MIT in Professor Donald Sadoway’s lab and was formed in 2010; it is led by Executive Chairman Dan Leff. Ambri is based in Cambridge, MA and develops the Liquid Metal Battery for grid-scale energy storage. Its technology aims to facilitate full integration of variable renewable generation like wind and solar and to reduce electricity costs. The technology was invented in the MIT lab of Dr. Donald Sadoway; Dr. David Bradwell is CTO and co-founder and Phil Giudice is CEO. Ambri closed a $35M Series C equity financing and intends to use the funds to accelerate commercialization, deliver commercial systems to customers, build its initial commercial-scale manufacturing plant, and continue technology development. Since its founding in 2010 Ambri has raised over $50M in equity financing and announced the opening of a prototype cell manufacturing facility in Marlborough, MA in fall 2013. Liquid Metal Battery Corporation (LMBC) is commercializing a liquid metal battery technology invented at MIT in Dr. Donald Sadoway's lab for grid-scale energy storage. The company’s technology is designed to increase power supply and power demand to enable wider use of sustainable energy sources and create more efficient power systems. Led by CEO Phil Giudice and based in Cambridge, MA, LMBC aims to bring its solution to market. It intends to use new funding to accelerate its development efforts. The company is focused on commercializing the MIT-invented technology for grid-scale applications. Liquid Metal Battery Corporation is commercializing liquid metal battery technology intended for large, grid-scale energy storage to smooth intermittent power from wind and solar. The company plans to use proceeds from a recent financing and acquired MIT patent rights to scale up engineering and commercialization efforts. The financing was provided by Total and Bill Gates; the amount was not disclosed. LMBC was founded in 2010 and is based in Cambridge, Massachusetts. Its technology was developed by MIT-affiliated inventors Donald Sadoway, David Bradwell and collaborators, and received early sponsorship from the Deshpande Center, the Chesonis Family Foundation and DARPA. In 2009 the technology was a recipient of an ARPA-E grant in the program's first round.

Led · Series A · Aug 2021

Snoop is a money-management app that uses open banking and analytics to surface money-saving opportunities and offer switching options for better deals. Launched in early 2020 by former Virgin Money CEO Dame Jayne-Anne Gadhia, Snoop delivers a daily feed of spending tips and weekly recaps focused on customers' spending habits. The product actively targets the "loyalty penalty," aiming to save households an average of £1,500 a year and noting the penalty costs UK consumers over £12 billion annually. The company reports over 3 million customers and processes some 300 million banking transitions at a value of £32 billion per day. Snoop plans to use the new funding to power product development and international expansion. It identifies bad deals, poor-value renewals, and wasteful subscriptions and then offers alternatives to switch to money-saving options.

Participated · Series A · Apr 2021

Innoveo provides an enterprise no-code platform, Innoveo Skye®, to accelerate digital transformation and speed up go-to-market strategies. The company serves industries including insurance, financial services and real estate. It has delivered more than 500 applications and processed over $1 billion in transactions for clients such as Zurich Insurance, Allianz, Chubb, Rakbank and Marriott. Led by CEO Amir Ghaffar, Innoveo intends to use new funding to grow its sales team and marketing activities and to expand strategic partnerships. The company also plans to further enhance its product offerings by accelerating platform development and R&D. Operations are based in Zurich, Switzerland.