Led · Grant · Jan 2026

ANELLO Photonics develops the ANELLO SiPhOG™ (Silicon Photonics Optical Gyroscope), an integrated photonic system-on-chip designed to deliver fiber‑optic–class gyroscope performance in a chip-scale form factor. The company combines its silicon photonics platform with an AI-based sensor fusion engine and holds a portfolio of over 80 issued or pending patents. ANELLO positions its products for deployment across land, air, and sea to enable resilient navigation where GNSS signals are unavailable or contested. The firm emphasizes manufacturability and scale, aiming to provide lower-cost, continuous high-precision positioning compared with legacy systems. The company is headquartered in Santa Clara, California. The recent Series B-2 financing is intended to scale production, accelerate innovation, and expand customer deliveries.

Led · Equity · Aug 2025

X-Bow Systems develops advanced manufactured solid rocket motors (SRMs) and a suite of modular SRMs and small launch vehicles for orbital and suborbital services. The company uses patented advanced-manufactured solid-propellant (AMSP) processes to modernize production of energetics and establish alternative supply sources for missiles, munitions, and SRMs. X-Bow says its Luling, Texas campus will have the capability to produce thousands of SRMs, including Guided Multiple Launch Rocket System (GMLRS) motors. Headquartered in Albuquerque, New Mexico, the company has additional presence in California, Alabama, Colorado, Texas, Utah, Maryland and Washington, D.C. Leadership includes CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff and other executives, and X-Bow lists investors such as Crosslink Capital, Razor's Edge Ventures, Balerion Space Ventures, Boeing and Lockheed Martin Ventures. The company is positioning its AMSP methods as a cost-effective, next-generation manufacturing approach for defense systems. X-Bow Systems is an Albuquerque, NM-based aerospace company that develops advanced manufactured energetics and solid rocket motors (SRMs) for the launch vehicle market. The company is designing and building a suite of modular solid rocket motors and small launch vehicles for both orbital and suborbital launch services. X-Bow supplies manufactured SRMs and related defense technologies to customers in the aerospace and defense sectors. The company announced it raised over $105M in a Series B funding round. It intends to use the funds to expand operations and accelerate development efforts. Senior leadership includes CEO Jason Hundley, Chairman Mark Kaufman, and CTO Max Vozoff. X-Bow Systems develops and manufactures advanced solid rocket motors (SRMs) and hypersonics technologies for both orbital and suborbital launch services. The company designs and builds a suite of modular strategic and tactical scale SRMs and small launch vehicles. It operates production facilities in Texas and has additional presence in California, Alabama, Utah, Colorado and Washington, DC, and is based in Albuquerque, NM. Led by CEO and Founder Jason Hundley, X-Bow is expanding engineering and R&D facilities across New Mexico. The company intends to use the new funding to accelerate growth of hypersonic-capable vehicles, advance strategic and tactical scale SRM programs, and complete its Luling, TX gigafactory campus. Financially, X-Bow raised more than $70M in a Series B financing to support these plans. X-Bow Systems develops cost-effective additively manufactured energetics for the solid rocket motor and launch vehicle market and is designing and building a suite of modular solid rocket motors and small launch vehicles for orbital and suborbital services. The company is privately held and led by CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff, CRO Maureen Gannon, and General Counsel John Leary. X-Bow has additional presence in California, Alabama, Colorado, Texas, and Washington, DC. Earlier this year the company was selected for a $60M STRATFI Program with AFWERX and the U.S. Airforce, and it says the recent interim funding will help further fulfill its matching requirements for that program. The funding round underscores continuing defense-industry interest in low-cost hypersonics and additively manufactured energetics. No operating metrics or revenue figures were disclosed in the article. X-Bow Systems applies additive manufacturing techniques to the production of solid rocket energetics for the solid rocket motor and launch vehicle market. The company is designing and building a suite of modular solid rocket motors and small launch vehicles for orbital and suborbital launch services. Led by CEO Jason Hundley and a management team including chairman Mark Kaufman and CTO Max Vozoff, X-Bow has a presence in Albuquerque, New Mexico and additional locations in California, Alabama, Colorado, Texas, and Washington, D.C. It closed a $27M Series A to accelerate customer support, grow the team, and invest in next-generation product offerings. The company said the round closed ahead of a planned static fire test of its 32-inch "Ballesta" solid rocket motor and a subsequent launch at White Sands Missile Range. X-Bow positions itself as a modern technology competitor bringing additive manufacturing innovation to a sector long dominated by legacy systems integrators.

Led · Equity · Mar 2023

Enexor BioEnergy develops and manufactures patented Bio-CHP systems that convert almost any organic, plastic, or biomass waste into reliable, continuous power and thermal energy. The systems are modular, enclosed in a 20-foot custom shipping container, and designed for quick deployment and on-site mobilization. Enexor positions its technology to provide landfill diversion, generate carbon and plastic credits, and reduce greenhouse gas emissions while delivering immediate cost savings for customers. The company will use newly awarded funds to install Bio-CHP systems at a U.S. Army installation to improve energy resiliency and test feedstock feasibility. Planned pilot work includes site assessments, permitting, carbon credit validation and verification, and feedstock testing and feasibility studies. Enexor manufactures its systems at its headquarters in Franklin, Tenn., and has previously secured a Series A investment from BorgWarner and participation in multiple corporate and accelerator programs. Enexor Energy is a Halliburton Labs participant that develops on-site renewable energy and carbon conversion solutions. Its technology targets the world's organic waste and plastic waste problems by converting waste and providing renewable energy on site. The company is described as Houston-based in the article. Enexor secured a $10 million investment from BorgWarner. Founder and CEO Lee Jestings said the firm and BorgWarner share a passion for technological innovation and expect a fruitful partnership. The article does not disclose additional operating metrics, revenue, users, or prior funding details.

Led · Grant · Aug 2022

HDT Bio’s core platform is a proprietary nanoparticle that delivers an attached RNA into cells; the company uses this approach for vaccines, cancer treatments and other therapeutics. The firm is developing a nasal spray built from the same nanoparticle‑RNA technology, using a RIG‑I activating RNA derived from Hepatitis C that was developed by UW immunology professor Michael Gale. Company animal studies show the RNA prevents replication of influenza A and COVID‑19, and cell studies show suppression of other respiratory viruses; a COVID‑19 RNA vaccine based on the company’s tech was recently approved in India. HDT Bio plans safety and potency studies under the U.S. Army grant and anticipates clinical trials could begin in 2025. The company was co‑founded in 2019 by Michael Gale, Christopher Pirie, Darrick Carter, André Lieber and Steve Reed; Reed is CEO and Pirie is COO. Financially, HDT Bio has secured a nearly $1.8M U.S. Army grant for the nasal spray and previously received a $1.5M small business grant from the National Institute of Allergy and Infectious Diseases for enterovirus D68 work. HDT Bio develops immunotherapies and vaccines using RNA, formulation, and adjuvant technologies, including its RNA/LION platform that combines formulation and adjuvant ingredients to stabilize and deliver RNA. Its lead candidate, HDT-301, is a COVID-19 vaccine slated to enter clinical trials in Q4 2020 in partnership with the NIH/NIAID. The company also maintains a variety of other immunotherapy technologies that explore different approaches to immune stimulation or modulation. HDT Bio completed a seed financing round totaling approximately $3 million and management said that, together with non-dilutive funding and early-stage revenue, the company is positioned to advance at least three products into the clinic in the next twelve months. The round was co-led by Zoic Capital and joined by angel investors from multiple biotechnology hubs. As it expands operations the company plans to complement its research and discovery team with clinical development expertise and leadership with decades of preclinical-to-clinical experience.