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The Venture Codex

Propeller

3 Ocean Street, Boston, Massachusetts, 02124, United States

Overview

Propeller operates as a climate-tech fund that invests in and builds ocean-climate companies.

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

Sector focus

  • Finance
  • Financial Services
  • Marine Transportation
  • Venture Capital
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Investment portfolio

  • Ciphero

    Participated · Seed · Dec 2025

    Ciphero is a New York City–based startup creating an AI verification and security layer for enterprise environments. Its platform captures, verifies, and governs every AI interaction, flagging risky behavior and guaranteeing trustworthy outputs. By addressing Shadow AI, agentic deployments, data-leak risks, and compliance standards such as SOC 2, Ciphero enables companies to integrate generative AI safely and ethically. The product is currently being tested with select design partners as the team refines enterprise-wide deployment and explores new AI investment opportunities. Leadership comprises CEO Saoud Khalifah, COO Rob Gross, and Chief AI Officer Sen Tian, all alumni of Fakespot, an AI fraud-detection company acquired by Mozilla. Having recently emerged from stealth, Ciphero has secured $2.5 million in pre-seed capital to fund product development and operational expansion.

  • Clarity

    Participated · Equity · Sep 2025

    Clarity is a London-based company offering an enterprise platform that merges voice-of-customer intelligence, AI agents, and support automation into a single, secure solution. Its technology helps global organisations in banking, government, and other regulated sectors better understand and serve customers. The firm partners with OpenAI, Booking.com, Grubhub, Careem, and STC, evidencing early commercial traction. Clarity also maintains offices in New York and Riyadh to support its international client base. The newly secured capital will fuel expansion of operations and accelerate product development. By focusing on security and compliance, the company positions itself as a trusted provider for industries with stringent regulatory requirements.

  • Corgea

    Participated · Seed · Nov 2024

    Corgea provides an AI-powered security platform that automates the detection, triaging, and remediation of vulnerabilities across complex enterprise ecosystems. The system is designed to reduce false positives and accelerate remediation, and has been recognized as an IDC Innovator for its DevSecOps automated remediation solution. The company is led by its founder and CEO and targets application and infrastructure security for enterprise customers. Corgea raised a $2.6M Seed round and intends to use the funds to further nurture customers in the Middle East and the U.S. The platform emphasizes automation to streamline vulnerability workflows and improve security outcomes for customers.

  • OTO

    Participated · Series A · Jul 2024

    OTO, founded in 2019 by Mohammad AlRazaz and Furkan Uzar, is a Riyadh-based logistics technology company. Its core product is a single integrated platform that simplifies order shipping, management, tracking, returns, and analysis for merchants. OTO’s technology connects merchants with over 250 shipping companies and e-commerce platforms and lets merchants use their own shipping contracts or purchase labels at competitive rates. The company will use the $8M Series A to expand and strengthen its presence in Saudi Arabia, the UAE, and Turkey. It also plans to enhance its platform with new features aimed at SMBs and enterprise online merchants. The round was led by Sanabil Investments with participation from Sadu Capital, Iliad Partners, Propeller, and Soma Capital. Financially, the company raised SAR 30 million (about $8.0M) in July 2024 in a Series A. OTO is a Riyadh-based SaaS startup that provides an all-in-one shipping management platform to help brands ship, manage, track, and return online orders from a single dashboard. The platform integrates with over 100 shipping carriers and 15 sales channels and supports more than 400 registered brands shipping locally and internationally. OTO serves Saudi Arabia, the UAE, Kuwait, Oman, Qatar, Bahrain and Egypt and in 18 months became the largest integrator for shipping services in the MENA region. The company plans to use new funding to grow its customer base across the GCC and Egypt and to create new products and features. OTO also intends to continue hiring top talent globally while supporting targeted triple-digit revenue growth.

  • Allium Engineering

    Led · Seed · Mar 2024

    Allium Engineering develops a stainless steel cladding process for rebar intended to resist corrosion and extend the life of infrastructure. The company has demonstrated its manufacturing process at industrial scale with a domestic steel mill partner, producing tons of stainless clad rebar that met AASHTO M 329M commercial-sale requirements. Allium plans to bring a new Boston-area manufacturing facility online in July 2024 capable of producing tons of stainless-clad steel each day and aims to produce more than a thousand tons of stainless clad rebar within the next two years. Planned commercial installations this year include a bridge in Walton County, Florida and a sea wall in Key West, with additional projects planned in Florida, California, Virginia, and Indiana. The company says its stainless clad rebar can more than triple bridge component lifetimes from around 30 years to greater than 100 years and avoid up to twenty-times its weight in carbon emissions through avoided concrete and steel consumption. Allium is hiring for technical, business development, and engineering operations roles to support manufacturing and commercialization.

Team