Participated · Seed · Jan 2025

bitBiome develops a data-driven platform for bio-manufacturing centered on its single-cell microbial genome sequencing technology (bit-MAP®) and a proprietary microbial gene database (bit-GEM) that has grown from 2 billion to over 3 billion genes. The company pairs bioinformatics, machine learning/AI, and high-throughput screening including robotics to enable enzyme discovery, enzyme and metabolic-pathway design, and microbial strain engineering via platforms such as bit-QED and bit-EVO. It has expanded leadership with experienced global hires and forged commercial partnerships and CMO ties to support end-to-end research-to-manufacturing workflows, including collaborations with Tojo Vikas International, Kyoritsu Seiyaku, and Sanwa Starch. bitBiome has been selected for large public projects (e.g., NEDO) and published research using bit-MAP® with multiple research groups, and has begun U.S. sampling to expand its database. The company plans to use recent funding to further grow bit-GEM, advance its SENS-AI genome-biology model, expand labs for data collection, and scale global business development, and has reported cumulative funding of about ¥7.0 billion.

Led · Equity · Jul 2023

NLM Photonics develops photonics solutions centered on hybrid organic electro-optic (EO) modulation and related materials and process technologies to transform networking and computing. The company’s core product work aims to reduce the energy cost of increased network bandwidth, addressing a key pain point for ubiquitous computing. Leadership includes CEO Gerard Zytnicki and Chief Scientific Officer Dr. Lewis E. Johnson. NLM leverages R&D and partnerships with global partners to advance its technology. The company intends to use recent funding to drive further product commercialization and to engage fabs and hyperscale data center operators. This strategy is positioned to accelerate commercial adoption of its hybrid EO modulation solutions. NLM Photonics builds electro‑optic and photonics components and solutions aimed at transforming networking, computing, and sensing. The company works alongside global partners to commercialize its photonics technology. NLM emphasizes advances that can change computing, communications, and sensing landscapes over time. The company announced a strategic investment from Hamamatsu Photonics to accelerate its development plans. Hamamatsu is expected to provide technical assessment, support, and resources as well as financial and intellectual contributions. NLM maintains an active public presence and directs readers to its website and social channels for further information.

Participated · Equity · Apr 2018

Pixelligent develops and manufactures nano-engineered materials—notably via its PixClearProcess—for augmented reality displays, sensors and lubricant applications. The PixClearProcess synthesizes materials at the nano level rather than breaking down larger materials. The company manufactures all of its materials in Baltimore and has 25 tons of production capacity. Pixelligent owns nearly 90 patents and “dozens” of trade secrets underpinning its products. CEO Craig Bandes, who took control of the company in 2009 as chief restructuring officer, said the funding will help support customers as the company brings numerous mass-production applications to market in 2023 and beyond. The company also recently received a $1.9 million U.S. Department of Energy grant; prior to this financing it had raised about $100 million to reach its current market position. Pixelligent synthetically replicates a broad set of metal-oxide materials and manufactures PixClear nanoparticles intended for integration into common manufacturing processes via its PixClearProcess. The company is commercializing PixClear as a nanoparticle solution and lubricant additive engineered to withstand intense operating conditions in harsh environments, aiming to improve performance, energy efficiency, reduce wear, and extend component lifetime. Target applications named in the article include wind-turbine gearboxes, EV wheel bearings, marine components, steel and aluminum rolling plants, and space-related uses. Pixelligent’s platform supports multiple application formats (ink jet, nanoimprint, spin coating, dispensing, photolithography) and its product family is cited for Extended Reality devices, OLED/MicroLED displays, optics, sensors, and solid-state lighting in addition to industrial uses. Research partners on the commercialization effort include the Carpick Research Group at the University of Pennsylvania and Argonne National Labs; commercial testing partners include ExxonMobil, Infineum, and Winergy‑Flender. The company has received multiple U.S. government awards—DOE and DoD programs have provided nearly $6M to date—and the current DOE award is intended to accelerate commercial implementation of their coating and lubricant technology. Pixelligent is a Baltimore, MD-based high-index advanced materials manufacturer that leverages nanomaterials to develop dispersion technology for next-generation OLED and HD displays, OLED and LED lighting, and optical coatings and films. Its flagship PixClear® zirconia dispersions deliver high light extraction, near-perfect transmission, increased mechanical strength, and improvements in overall operating efficiencies. The PixClear® nanocomposites can be incorporated into solvents, polymers/monomers, and the manufacturing processes most commonly used in electronics manufacturing. Led by President & CEO Craig Bandes, the company raised $7.6M in funding to accelerate commercialization. Pixelligent intends to use the proceeds to further drive product commercialization and accelerate global customer adoption across its target markets. Pixelligent develops PixClear® zirconia nanocomposite dispersions designed to improve light extraction, transmission, mechanical strength, and operating efficiencies in OLED/LED lighting, HD displays, optical coatings, and industrial applications. Its dispersions can be incorporated into common solvents, polymers/monomers, and manufacturing processes used in electronics production. The company is leveraging grant funding to accelerate development of applications across lighting and industrial lubricants. Recent awards will support extending OLED light-extraction materials toward next-generation flexible OLED lighting and developing PixClear-enabled gear oils to improve gearbox and drivetrain lifetime and energy efficiency. Pixelligent collaborates with the University of Pennsylvania and Argonne National Laboratory on lubricant development. The company has grown through grant awards and private funding and was recognized by Frost & Sullivan as the 2017 Manufacturer of the Year for SMBs under $1B in revenues. Pixelligent develops and manufactures high-index advanced materials, marketed as PixClear®, for solid-state lighting, display and optical coatings and films. Its nanotechnology platform includes proprietary nanocrystal synthesis, capping technology, high-volume manufacturing and application engineering that supports ink jet, slot die, UV curing, spray coating and other manufacturing processes. The company intends to use the new $10.4M in funding to complete installation of additional manufacturing capacity, open new offices in Asia, and continue to drive innovation in lighting, display and optical applications. The $10.4M round was led by The Abell Foundation, The Bunting Family Office and David Testa and brings total equity raised to over $36.0M. Pixelligent is led by President & CEO Craig Bandes and is based in Baltimore, MD.