Participated · Series A · Apr 2026

Rhea Space Activity builds AutoNav, an optical navigation software that determines position by imaging moving space objects and is described as unjammable and unspoofable. AutoNav was originally flown on several NASA missions and has been adapted by RSA's engineers for military and intelligence operations in GPS-denied environments. The company positions AutoNav as a dual-use capability serving U.S. and allied defense and commercial customers, and says it has commercial traction and growing institutional investor backing. RSA plans to scale, productize, and adapt its technologies for deployments across allied partner operations and contested domains. Management has highlighted goals including scaling hiring, production, system validation, and supply-chain resilience to meet urgent mission needs. The company is headquartered in Washington, DC, with subsidiaries in the United Kingdom and Australia.

Participated · Series A · May 2025

Persist AI offers an AI-driven robotics platform and Cloud Lab that lets pharmaceutical scientists remotely predict, build, and test formulations using miniaturized, automated laboratory facilities. Its AI models generate formulation recipes and the robotic systems execute high-throughput experiments, dramatically reducing material use and timelines. In a recent engagement, Persist identified an optimal long-acting injectable in two months by building and testing 700 formulations, versus an industry standard of roughly 10–15 formulations per month. The Cloud Lab supports modalities including peptides, small molecules, antibodies, and antisense oligonucleotides, and serves multiple top-10 pharmaceutical clients as well as smaller biotechs. Persist plans to expand its robotic lab, broaden the range of formulations its models can predict and test, and build comprehensive datasets to improve its AI. The company is Y Combinator–backed (graduated 2023) and recently closed a $12 million Series A to fund these efforts. Persist AI is an AI-driven drug formulation company based in Woodland, CA. The company has developed robotics that enable automated development of long-acting injectable formulations. Coupled with AI models, their technology rapidly predicts which formulations will release drugs in the body for an extended period and reduce the number of injections patients need. Led by CEO Karthik Raman, Persist AI completed YCombinator and subsequently raised $4M in seed financing. The round was led by 2048 Ventures with participation from Innospark Ventures, Fellows Fund, YCombinator, Pioneer Fund and others. Persist AI intends to use the funds to expand operations and further its development efforts.

Participated · Seed · Apr 2024

Neurava is a MedTech startup based in Indianapolis developing smart wearable devices that identify and alert for seizures, cardiorespiratory dysfunctions, and impending SUDEP risk. Its diagnostic platform is designed to provide lifesaving monitoring and alerts for people with epilepsy. The company was co-founded by CEO Jay Shah and CTO Vivek Ganesh. Neurava raised $2.26M in Seed funding to advance product development and clinical validation. Management said the funds will allow completion of a pivotal usability study at leading clinical institutions in adults and pediatric patients with epilepsy, set up manufacturing partners, and submit for FDA clearance. The seed round was led by Life Science Angels with participation from UCB, Purdue Innovates, Elevate Ventures, Rivermount Ventures, and First Leaf Capital. Neurava is developing N1, a wearable diagnostic for epilepsy patients and those at risk of SUDEP that records key biological signals and sends wireless alerts to caregivers. The device transmits recorded data to physicians to expedite treatment and management plans. The company emphasizes real‑time monitoring and alerting to give continuous and reliable oversight of impending risk. Neurava says the recently secured funding will support aggressive expansion and will broaden and accelerate product development. Chief Executive Officer Jay Shah played a key role in securing the investment. The company is associated with West Lafayette, IN.

Participated · Equity · Jan 2024

Adipo Therapeutics is a late-stage, preclinical biopharmaceutical company based at the Indiana Biosciences Research Institute in Indianapolis. Its lead asset, ADPO-002, is being developed to treat obesity and type 2 diabetes by converting energy-storing white adipose tissue into energy-burning brown adipose tissue, increasing energy expenditure and improving insulin resistance. Purdue noted ADPO-002 could be complementary to existing weight-loss and diabetes drugs. The company completed a $1.9M bridge round to complete critical studies demonstrating the therapy's mechanism in human fat. That bridge brings Adipo's total seed funding to $4 million. Adipo is currently in the midst of a $35 million Series A aimed at moving the treatment into a Phase 1 clinical development program. The company was founded by Dr. Meng Deng, who serves as president; Karen Wurster is CEO and the board recently added Dr. Michael Clayman.

Participated · Seed · Apr 2023

TRIO Pharmaceuticals is a biotechnology company pioneering bispecific antibodies through its proprietary TRAILBody and TIE‑ADC platforms. Its dual‑action therapies aim to directly stop tumor growth while selectively reversing tumor immunosuppression without targeting existing immune checkpoints. TRIO is advancing programs against high‑mortality cancers including multiple myeloma, acute myeloid leukemia, ovarian, endometrial, and triple‑negative breast cancer. The company positions its therapies as potent, less toxic alternatives to conventional treatments and notes its team has developed first‑in‑class FDA‑approved drugs. TRIO will use proceeds to expand preclinical activities and advance its programs toward clinical development. The financing underscores a focus on accelerating development for cancers with high unmet need. TRIO Pharmaceuticals was founded by Purdue University biophysics and structural biology alumnus Shiva Bhowmik, who serves as founder and chief operating officer. The company develops antibody-based therapeutics intended to strengthen the body’s immune response by selectively eliminating immunosuppressive cells and directly targeting cancer cells. TRIO’s approach combines removal of immunosuppressive cells with direct anticancer activity to achieve stronger antitumor immunity. The recent financing is intended to enable TRIO to advance its technology and identify the best drug candidates for further development. Company leadership expects the milestone will open opportunities for collaborations with large pharmaceutical companies and the possibility of raising future funding rounds.