The Venture Codex

Participated · Series D · Feb 2024

Uhnder develops commercial digital radar chips and software serving automotive, industrial, and defense customers. Its patent-pending technology aims to improve azimuth and elevation measurement accuracy to enable advanced driver-assistance systems (ADAS) and autonomous driving. The company has shipped over 200,000 of its next-generation digital radar chips and reports dozens of customer engagements across its target sectors. Founded in 2015 by Dr. Manju Hegde and Curtis Davis and based in Austin, Texas, Uhnder targets applications ranging from safety to convenience. The company intends to use new funding to expand its market presence. Uhnder develops fully digital 4D software-defined imaging radar using Digital Code Modulation (DCM) to replace traditional analog frequency modulation, delivering higher angular resolution, interference rejection, and High Contrast Resolution (HCR). Its flagship product, Voxel, is expected to be in production and automotive qualified in 2021. The company supplies both chips and system solutions for perception stacks and says customers requiring best-in-class radar for autonomous systems are fueling demand. Sensata Technologies plans to use Uhnder’s digital imaging radar chip across applications in mining, agriculture, aerospace, and construction. Uhnder was launched in 2015 and is headquartered in Austin, Texas. The company positions its technology as enabling improved safety and smaller, lower-power radar footprints for autonomy and other automation applications.

Participated · Equity · Feb 2024

WARD 24/7 develops an AI-driven digital patient monitoring system that tracks vital signs such as heart and lung functions to ease workload for healthcare professionals. The platform is designed to streamline clinical tasks, reduce complications, and improve patient care. The company’s core focus is leveraging artificial intelligence to continuously monitor patients’ vitals and support clinical workflows. WARD 24/7 has achieved CE marking for its technology, confirming compliance with EU medical device standards. Founded in 2016 and based in Copenhagen, the startup is pursuing broader adoption across healthcare settings. In January 2024 it secured approximately €3.4M in funding to support expansion and implementation of its AI technology.

Participated · Series B · Feb 2024

Heart Aerospace develops the ES-30, a regional hybrid-electric airplane with a standard 30-passenger configuration powered by electric motors and battery-derived energy. The ES-30 offers a fully electric zero-emissions range of 200 km, an extended 400 km range with 30 passengers, and flexibility to fly up to 800 km with 25 passengers (including typical airline reserves). The company plans to use new funding to advance type certification of the ES-30 and further build its business, and expects to unveil a full-scale aircraft demonstrator in the coming year. Heart positions the ES-30 as a way to decarbonize and democratize air travel and to reopen regional routes with superior operating economics. The company is led by CEO Anders Forslund and is based in Gothenburg, Sweden. Heart has firm orders for 250 ES-30s, options and purchase rights for an additional 120 planes, and letters of intent for a further 191 aircraft. Heart Aerospace designs the ES-30, a 30-passenger regional electric airplane powered primarily by batteries with a reserve-hybrid configuration using two SAF-fueled turbogenerators. The ES-30 offers a fully electric range of 200 km, an extended range of 400 km with 30 passengers, and flexibility to fly up to 800 km with 25 passengers. The cabin is three-abreast with a flat floor, galley, lavatory, overhead bins, and a large external baggage/cargo compartment to support airline network flexibility. The design accommodates future battery-technology improvements to increase electric range and operating efficiency. Heart has reconfirmed previous orders from United Airlines and Mesa Air Group for 200 aircraft (with an option for an additional 100) updated to the ES-30, and holds letters of intent totaling 96 ES-30s, including commitments from multiple regional carriers and a Rockton LOI for up to 40 planes. The ES-30 is expected to enter service in 2028, and Heart’s main offices and final assembly facility will be at Säve Airport in Gothenburg, Sweden. Heart Aerospace is developing the ES-19, a 19-seat regional airplane powered by batteries and electric motors with an expected range of up to 250 miles. The company completed a full-scale prototype of its electric propulsion system but still needs to assemble and test a full-aircraft prototype and obtain certification in the U.S. and Europe. Heart plans first commercial deliveries in 2026 and is building a large test facility while working with roughly 50 suppliers to validate avionics, flight-control, de-icing and other systems. The company says the ES-19’s electric motor is about 20 times less expensive than an equivalent turboprop and that maintenance costs will be dramatically lower. Heart was spun out of a Chalmers University research project in 2018 and joined Y Combinator’s winter 2019 cohort after a $2.2M seed round. The startup has grown to around fifty employees and expects some final assembly to occur in North America to fulfill regional orders.