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The Venture Codex

Red & Blue Ventures

3401 Grays Ferry Avenue, Philadelphia, Pennsylvania, 19146, United States

Overview

Red & Blue Ventures is a privately owned, seed and early-stage venture capital fund that invests in technology companies with penn students, alumni, and faculty as key personnel. Media and entertainment companies build identity-based brands that lead their space. It all starts with amazing original content that connects with people.

Total investments
15
Lead investments
2
Investments · 12mo
0
Active investors
2

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Chef Robotics

    Participated · Series A · Mar 2025

    Chef Robotics builds AI-enabled robotic systems and a ChefOS platform for food manipulation to automate meal assembly, offered as Robotics-as-a-Service (RaaS). The company has deployed systems with brands including Amy's Kitchen, Sunbasket, Chef Bombay, and Cafe Spice and has produced over 44 million servings in production. Chef collects real-world production data from each meal to train its AI models and accelerate an AI data engine flywheel that improves system performance over time. The company plans to accelerate production deployments and scale its go-to-market team, investing in sales and marketing to increase deployments. Chef currently serves customers in the U.S. and Canada and plans to expand to the U.K. in 2025. Headquartered in San Francisco, Chef positions its RaaS equipment financing to reduce customers' upfront CapEx. Chef Robotics develops a robotic arm and underlying software (ChefOS) that focus on food assembly rather than direct cooking, using sensors such as cameras to train models for manipulating a wide variety of ingredients. Much of the hardware is off‑the‑shelf while the company differentiates on software and AI to handle ingredient variability. It commercializes via a RaaS (robotics‑as‑a‑service) model to reduce upfront costs for customers. The company plans to use new funding to deploy its go‑to‑market strategy and hire engineers and technicians, expanding a team that currently numbers around 30. Chef reports having robots at food companies in five cities across the U.S. and Canada, including Fortune 500 food companies. Recurring revenue reportedly quadrupled from 2022 to 2023, though the company did not disclose specific sales figures. Chef Robotics develops a robotics and vision system designed to automate aspects of food preparation, aiming to increase production volume, consistency, and reduce food waste. The product uses artificial intelligence that learns to handle an expanding set of ingredients and improves over time. Its modular architecture is intended to let customers scale capacity similarly to hiring more staff while maintaining uptime and consistency. The company has emphasized flexibility so customers can change menus often with minimal hardware changes. The team includes former employees of Cruise, Google, Verb Surgical, Zoox, and Strateos. Chef is focusing on fast-casual restaurants as an early target market and has not yet publicly demonstrated its robot.

  • MD Ally

    Participated · Series A · Aug 2024

    MD Ally offers 9-1-1 and EMS-integrated telehealth and care navigation technology that enables medical dispatch to expand non-emergency services. The platform is designed to remove logistical barriers between 9-1-1 systems and the broader healthcare ecosystem. The company collaborates with public safety systems and health insurance payors to route callers with non-emergency concerns into timely, appropriate care. MD Ally also provides downstream care coordination and supports callers with personal-assistant level help to improve treatment adherence and long-term outcomes. The company says it partners with large U.S. cities such as Phoenix and has national payor partnerships across Florida, Arizona, and California, serving over 5 million patients. MD Ally is NYC-based, was founded in 2018, and is led by CEO Shanel Fields. MD Ally integrates directly into public safety answering point computer-aided dispatch systems to identify low-acuity 911 calls and redirect them to telehealth options using established Advanced Medical Priority Dispatch System codes. The platform is offered free to 911 centers while the company plans to generate revenue from telehealth provider referrals and insurers seeking to reduce emergency-service costs. MD Ally is already integrating with centers in New York and Florida and aims to add centers in Louisiana, California and Arizona by the end of the year. Long-term the company hopes to deescalate situations — including mental-health calls — by routing callers to appropriate clinical or behavioral resources instead of police response. The company was started by CEO and founder Shanel Fields in fall 2019; Kojo DeGraft-Hanson serves as chief product officer. Financially, MD Ally closed a $3.5 million seed round and had previously raised $1 million last March. MD Ally provides an on-demand telemedicine platform that lets dispatchers offer immediate virtual appointments to 911 callers as an alternative to dispatching EMS teams. The product includes a telehealth platform and EMS integrations designed to safely transmit caller information across the 911 system. Founder and CEO Shanel Fields incorporated the company in 2018 after researching EMS workflows and drawing on a Wharton healthcare‑management MBA; the team includes a chief technical officer, chief product officer, and a recent sales hire. MD Ally is distributed but was founded in Philadelphia and plans to relocate to New York City through its involvement with HearstLab. The company raised just over $1 million in a seed round and intends to use the funds to grow headcount and invest in R&D focused on 911 system integration. The service aims to reduce non‑emergent EMS responses, conserve PPE and lower risk to responders and patients, a benefit highlighted during the COVID‑19 pandemic.

  • Wonder

    Participated · Equity · Mar 2024

    Wonder builds a vertically integrated food technology platform combining chef-developed concepts, third-party restaurant marketplace listings and at-home meal kits in a single customer experience. Its proprietary kitchen technology includes the Infinite Kitchen and the only fully automated bowl-making system in live commercial production, and the platform supports multi-restaurant ordering within a single order. The company has expanded rapidly, reporting its footprint tripled from 46 to 140 locations since May 2025. Wonder is investing in robotics, artificial intelligence and delivery infrastructure, including a partnership with Zipline to pilot on-demand drone delivery in Texas. Marc Lore is founder and CEO, and the company positions itself to own mealtime from recipe development through autonomous delivery. Financially, the company raised $650 million in a Series D at a $9 billion pre-money valuation to fund its expansion and technology investments.

  • Overplay

    Participated · Seed · Dec 2023

    Overplay is a frictionless platform for user-generated games that lets anyone quickly and easily make games using personal videos. Its multi-patented app includes AI tools that help creators and brands transform videos into interactive games. The product emphasizes simplicity and rapid game creation for creators and brands. After appearing on Shark Tank, entrepreneur Mark Cuban invested and will join as a brand ambassador and strategic advisor. Overplay raised over $400,000 from 411 investors via a Wefunder crowdfunding campaign and struck a negotiated $500,000 for 4% equity deal with Cuban; the company plans to raise a $5 million seed round. The company said it will leverage Cuban’s content creation and promotion to accelerate growth and user acquisition. Overplay provides a patented, mobile-first game creation platform that enables creators, brands, and social users to transform short videos into casual games without coding. The product uses AI to convert video content into playable experiences in minutes and holds a patent described as "playing a game into existence." The company intends to use its new capital to scale distribution and bring game-creation tools to millions of creators, social media users, gamers, and brands. Overplay reports more than 1 million games played, 150,000+ alpha app downloads, and a waitlist of over 7,000 creators for its beta game maker. The team is led by CEO and co-founder Dan Projansky and COO and co-founder Caroline Strzalka, with backgrounds in game design and media partnerships. Financially, Overplay completed a seed fundraising round in December 2023 to support product growth and go-to-market efforts.

  • Prognos Health

    Participated · Equity · May 2023

    Prognos Health is a New York City–based real-world data (RWD) company operating a managed, integrated RWD marketplace. Its platform harmonizes lab and health records across more than 325 million de-identified patients to provide a comprehensive, integrated view of patient health. The marketplace is used by over 70 life sciences customers to accelerate drug development, improve the safety and efficacy of existing drugs, and identify new patient populations. Led by CEO Sundeep Bhan, Prognos serves researchers, payers, and providers with fully integrated datasets to support clinical and commercial decision-making. The company raised $23M in growth equity and intends to use the funds to accelerate growth and expand the reach of its platform. The article emphasizes the company’s focus on expanding its impact on healthcare through data-driven tools and partnerships. Medivo operates a HIPAA-compliant, cloud-based health monitoring platform that provides modules for physicians and patients across a range of conditions and offers mobile tools and simple explanations of lab results. The company provides free services for physicians and consumers and has expanded its reach with increased engagements with life sciences firms and a partnership with the American Association of Clinical Endocrinologists. Medivo reports having doubled its growth year-over-year for the past three years and has presented peer-reviewed findings from a proprietary clinical database. The platform includes modules for diabetes, dyslipidemia, hepatitis C, gout, low testosterone, irritable bowel disease, hereditary angioedema, chronic myelogenous leukemia and other conditions, with initiatives to add obesity, rheumatoid arthritis, hepatitis B, HIV, several cancers, and additional chronic diseases. The company plans to continue expanding its network of laboratories, enrich its analytics services, build connectivity to additional data sources, and broaden product offerings and patient engagement services. Medivo is New York City–based and is venture-backed by investors including Merck GHIF, Safeguard Scientifics, and MentorTech Ventures. Medivo provides data analytics and lab testing services through an online, HIPAA‑compliant platform that connects patients to a nationwide network of physicians, lab service centers, and home testing services. Its PatientPath™ services identify gaps in patient lab testing and treatment, enable testing through thousands of labs, explain results to patients, and relay information to primary care physicians. The platform is designed to improve access to testing, educate patients about results, and help physicians make more efficient use of diagnostic testing. Medivo’s stated mission is to save lives through faster and easier access to quality healthcare; the company is led by co‑founder and CEO Sundeep Bhan. The article positions Medivo to capitalize on a U.S. lab testing market described as more than $50 billion and expected to double by 2020, noting lab services affect roughly 70% of critical clinical decisions. The company announced a $7 million Series A to support product development and expansion of sales and marketing.

Team