Led · Series A · Jul 2026

ZymeCO develops enzyme-based biological tools that break down turf thatch, algae and organic matter to support soil, crop and turf health. Its product portfolio includes ThatchZyme and other formulations produced via fungal fermentation and enzymatic discovery. The company combines enzyme discovery, fungal fermentation, biological formulation, agronomic insight and focused product development. ZymeCO serves growers, golf course superintendents, lawn care and sports turf managers and is expanding commercial reach in those markets. Management cited strong customer demand and rapid revenue growth leading up to the Series A. The company plans to scale manufacturing, accelerate field validation, broaden commercialization and expand R&D to address pest control and other customer needs.

Participated · Series A · Mar 2025

Tandem PV builds perovskite-silicon tandem solar panels that stack a thin perovskite layer atop conventional silicon cells to increase power output and lower costs. Its panels currently achieve about 28% efficiency and are reported to be roughly 30% more powerful than average silicon panels. The company emphasizes durability and scalability, citing lab results that project decades-worth of stability and plans for extensive third-party testing in real-world conditions. Tandem PV is expanding domestic manufacturing to support U.S. clean-energy leadership, supply-chain resilience, and lower costs. The recent CEC grant will fund independent validation of long-term durability, environmental resilience, and energy yield to accelerate commercial readiness. To date the company has combined venture, debt, and government funding to advance manufacturing and commercialization efforts. Tandem PV develops perovskite-based tandem solar panels that combine industry-leading durability and efficiency for broad-scale deployment. Its panels currently achieve 28% efficiency and are projected to surpass 30% by late 2025, about 30% more powerful than the average silicon panel. The company’s perovskite layer is roughly 200 times thinner than silicon and its production reportedly requires just 10% of the energy of conventional panels, lowering production energy, labor, and land costs. Tandem PV plans to build a commercial-scale U.S. manufacturing facility to accelerate commercialization and re-establish domestic solar manufacturing leadership. Industry reports project perovskite modules will reach gigawatt-scale production by 2028, positioning the company to scale with existing silicon infrastructure. Financially, Tandem PV has raised a total of $83 million in venture capital, debt, and government funds to date. Tandem PV develops thin-film perovskite layers stacked on conventional silicon cells to produce higher-efficiency tandem solar panels. The company is currently producing tandem panels with roughly 26% efficiency, about 25% more powerful than typical silicon panels, and claims potential designs up to 40% more powerful than today’s panels. More power at similar price-per-watt is positioned to lower installation labor, land-acquisition costs, and total cost of ownership for customers. Tandem PV has demonstrated the equivalent of decades of projected durability in lab testing and plans independent industry-standard validation of efficiency and durability in 2024. Research and development continue alongside plans for a first manufacturing facility to enable broader deployment. The company emphasizes commercializing durable, highly efficient perovskite-based panels for large-scale adoption. Tandem PV designs tandem perovskite-on-silicon solar panels that boost the output of conventional silicon cells by stacking thin-film perovskite materials. The company is producing panels with about 26% efficiency, roughly 25% higher output than average silicon panels, and reports lab-demonstrated durability equivalent to decades. Tandem PV plans to obtain independent industry-standard validation of efficiency and durability during 2024 and to bring customer agreements to begin building its first manufacturing facility. The company is led by CEO Scott Wharton, who joined last summer to accelerate commercialization. Tandem has raised venture and government funding to support R&D and scale-up activities. Tandem PV specialises in ultra-high-efficiency tandem metal-halide perovskite solar panels that convert conventional silicon modules into higher-efficiency tandems via a perovskite-coated front glass drop-in replacement. The company plans to manufacture its first commercial-grade tandem solar panels to provide more efficient and affordable solar energy to customers. It will use the recent financing to build a pilot manufacturing facility at its San Jose, California headquarters. Tandem PV says it has strong market pull from residential solar installers, end users, equipment distributors and utilities. The company was co-founded by materials science PhD Colin Bailie, who developed the design at Stanford, and Chris Eberspacher, former CTO of Hanwha Solar. The move into pilot production is positioned as the next step toward demonstrating and commercialising its perovskite-silicon tandem technology.

Participated · Series B · Sep 2024

Founded in 2021, Cyclic Materials has developed a two-stage physical and hydrometallurgical process, marketed as MagCycle℠ and REEPure℠, to extract rare earth elements (REEs) from end-of-life products and magnet production waste. The system delivers a 61.2% lower carbon footprint, cuts water use to 5% of traditional mining requirements, and achieves recovery rates exceeding 98%. Its technology supplies mixed rare earth oxides (rMREO) essential for permanent magnets used in AI data centers, robotics, defense systems, e-mobility and automated manufacturing. Commercial momentum includes a forthcoming Spoke facility in Mesa, Arizona, a Hub and Center of Excellence in Kingston, Ontario, and a 10-year agreement to recycle 100% of VACUUMSCHMELZE’s magnet by-products from its new South Carolina plant. Cyclic Materials also partners with Solvay and Lime Micromobility to secure feedstock streams. Following the latest raise, total equity funding tops USD $162 million, enabling rapid expansion across North America and Europe. The company aims to anchor resilient, locally sourced REE supply chains that traditional mining cannot match in speed or sustainability.