The Venture Codex

Led · Seed · Feb 2026

Project Omega is an advanced nuclear recycling company that aims to rebuild America’s nuclear fuel cycle end-to-end by turning spent nuclear fuel from a liability into a strategic energy asset. Its core technology, which has already been successfully demonstrated in a laboratory setting, converts used reactor fuel into long-duration, high-energy-density power systems and extracts critical isotopes for the broader nuclear industry. The company is partnering with the U.S. Department of Energy’s ARPA-E and Pacific Northwest National Laboratory to validate and scale its process, with PNNL recently producing a working proof-of-concept device within months. Future plans include supplying fuel for advanced nuclear reactors, providing decades-long power for military and space applications, and strengthening domestic energy security. Project Omega positions itself as a key enabler of the growing energy demands driven by AI acceleration, electrified manufacturing, and industrial expansion. Financially, the firm emerged from stealth with an oversubscribed $12 million seed round, giving it initial capital to advance pilot demonstrations and infrastructure build-out. No revenue or user metrics have been disclosed to date.

Participated · Equity · Nov 2025

Dolphin Drilling provides offshore drilling services, deploying a fleet of rigs to support oil and gas operators around the world. The company is currently working to reactivate its Borgland rig for an upcoming contract with Repsol, a project that requires additional capital. In Q3, Dolphin Drilling generated USD 37.7 million in revenue but posted a negative EBITDA of USD 4.7 million and a net loss of USD 18.2 million, underscoring ongoing liquidity challenges. Management plans to use newly raised funds to cover Borgland reactivation costs, settle a tax claim with HMRC, and support general corporate purposes. Including a recently agreed USD 5.5 million amortization deferral from its main lender, the company expects to extend its cash runway to April 2026. Arctic Securities, DNB, Carnegie, and Fearnley Securities are acting as joint bookrunners for the latest financing.

Participated · Series A · May 2025

Reflect Orbital is building a constellation of satellites designed to reflect sunlight down to Earth for large-scale lighting and energy applications. The company plans to deploy its first satellite as early as Spring 2026 and begin a limited "World Tour" of lighting experiences in 10 iconic locations. After the initial demonstrations, Reflect intends to expand to provide lighting for remote operations, defense, civil infrastructure, and energy generation. The new $20 million Series A will support team growth, scaled operations, and the company's first space missions. Reflect is actively contracting with customers after receiving over 260,000 applications for satellite-reflected sunlight from 157 countries. Headquartered in Hawthorne, Calif., the company is hiring engineers and mission-driven professionals to execute its roadmap. Reflect Orbital is building satellites that deploy large reflective arrays to precisely beam sunlight onto targeted ground locations, with the stated aim of extending dawn and dusk to increase solar power generation. The company was founded in October 2021 by CEO Ben Nowack and CTO Tristan Semmelhack and operates from a 10,000 square-foot office in Hawthorne with seven employees. Its near-term plan is a sub-scale orbital demonstration carrying a 10 by 10 meter reflector, with production vehicles planned around 50 by 50 meters or larger. Reflect intends to combine beams from hundreds to thousands of satellites and grow its constellation to “thousands to tens of thousands,” a scale the founders say could rival Starlink in size. The production service is targeting roughly 1/5 noon sunlight brightness at a focused spot by coordinating many vehicles, and the company positions the offering as a way to increase baseline solar output rather than directly replace batteries. The startup has drawn viral attention and public scrutiny, collected roughly 182,000 applications to reserve prototype sunshine, and acknowledges technical and policy challenges including atmospheric loss and impacts on astronomy.

Participated · Series A · May 2025

Rainmaker Technology leverages drones, numerical weather modeling, and radar algorithms to facilitate precipitation and bolster water resources. The company’s systems are aimed at supporting agriculture, maintaining water supplies and stabilizing hydroelectric power. Led by CEO Augustus Doricko, Rainmaker is based in El Segundo, CA. The company reportedly raised $25M in a Series A to advance its technology and operations. Rainmaker intends to use the funds to expand operations and development efforts. The raise was reported on May 5, 2025. Rainmaker develops cloud-seeding technology intended to increase precipitation to support agriculture, replenish water reserves, and stabilize hydroelectric generation. The company says it uses advanced technologies to create rain in a sustainable and efficient way. Rainmaker was founded in 2023 and is based in California. Engineers at the company describe drought as a problem they intend to address relentlessly. Financially, Rainmaker recently closed a Seed financing of $6.3 million. The company is backed by venture firms and angel investors as it continues developing its cloud-seeding solution.

Participated · Seed · Dec 2024

MoldCo operates the first clinician-led digital health service focused on making mold detox a routine component of preventative care. Through its telehealth platform, patients can obtain symptom screening, advanced biomarker lab tests starting at $99, virtual consultations with certified mold-toxicity specialists, and prescription therapies shipped directly to their homes. Typical treatment plans cost $150–$300 per month, positioning MoldCo as a far cheaper alternative to fragmented, in-person options that can run into the tens of thousands of dollars. The company is already offering lab testing in 46 states and clinical care in select states such as Florida, Massachusetts, Michigan, Ohio, and Texas, with nationwide coverage targeted for 2026. Near-term priorities include expanding its specialist network, enhancing proprietary care technology, scaling patient onboarding, and launching clinical research collaborations to raise physician and public awareness. Backed by leading physicians, researchers, and tech VCs, MoldCo has raised $11 million to date to accelerate these initiatives.