Participated · Series D · May 2022

SkySpecs offers autonomous drone inspections, blade and drivetrain software, and integrated asset-health analytics for the renewable energy industry. The company operates a fleet of autonomous drones and claims the largest blade data repository, having inspected over 270,000 turbines and serving 125 global customers. In 2024 SkySpecs reported its highest-ever number of onshore and offshore drone inspections and launched new autonomous blade-inspection technology for both internal and external inspections. The company has expanded through strategic acquisitions in performance monitoring, condition monitoring, and financial analytics, and is integrating diverse data streams including inspection, SCADA, CMS and financial data. SkySpecs says it will scale further in 2025, accelerating development of cutting-edge technologies and expanding its global impact. The business emphasizes driving predictive maintenance, operational streamlining, and cost savings for owner-operators. SkySpecs offers autonomous drone inspections, AI-based fault detection, and software solutions to help owners monitor and optimize renewable energy assets across the asset lifecycle. The company expanded from blade-inspection services to broader diagnostics and analytics for multiple wind asset components to enable earlier fault detection and prioritized maintenance. SkySpecs said the new funding will accelerate expansion of its software offerings and grow its geographic footprint to increase renewable performance and displace fossil fuel generation. The company closed an $80 million strategic capital raise led by Goldman Sachs Asset Management with participation from a NextEra Energy Resources subsidiary and existing investors. SkySpecs manages approximately 118 gigawatts of renewable assets across more than 30 countries, monitors about 45% of North American wind turbine blades, and has inspected over 300,000 blades. The company employs more than 200 people globally and positions its solutions to extend asset useful life, reduce operating costs, and simplify asset ownership. SkySpecs builds operations and maintenance solutions for the wind energy sector, using AI, machine learning, robotics and software to optimize repair decision-making and proactive planning. Its Horizon asset-management solution enables smart repair planning and supports autonomous wind-turbine inspections. The company offers autonomous inspection services and asset-management functionality intended to improve O&M efficiency. SkySpecs operates in 19 countries across five continents and maintains offices in Ann Arbor, Michigan and Amsterdam, Netherlands. Led by CEO Danny Ellis and CTO Tom Brady, the company plans to expand its team in the United States and Europe and continue developing Horizon’s functionality. SkySpecs is an Ann Arbor, Mich.-based automated infrastructure inspection company that provides a platform to enable customers to make more information-rich decisions about the condition of their energy assets and infrastructure. Co-founded by Danny Ellis and Tom Brady, the company combines robotics, artificial intelligence, and machine-based analytics to advance renewable infrastructure inspection. Its solution enables wind farm owners, ISPs, and OEMs to monitor and track the health of their wind turbines with a 15-minute automated robotic inspection. SkySpecs will use the Series B proceeds to scale international operations and develop inspection software. The company raised $8m in Series B financing led by Statkraft Ventures, with participation from UL Ventures and Capital Midwest and follow-on investments from Venture Investors, Huron River Ventures and other existing investors.

Participated · Series B · Sep 2020

Aurora Labs offers an AI-based Vehicle Software Intelligence platform that spans the full vehicle software lifecycle from development and testing to continuous certification and on-the-road, zero-downtime OTA updates. The company’s solutions collect actionable data to analyze line-of-code behavior, help streamline development, testing, integration and WP.29 compliance, and protect software from faults and cybersecurity attacks. Aurora Labs positions its technology as a cost-saving enabler for software-defined vehicles, claiming up to 98% savings on hardware and data transmission costs for updates and up to 30% savings in software engineering hours. Its products have been adopted on customer platforms globally and the company commits to ISO-26262/ASIL-D and ASPICE-L2 compliance for deployment in upcoming car models. Aurora Labs holds 90 patents and has 15 customer projects worldwide. The company is headquartered in Tel Aviv, Israel, with offices in Germany, North Macedonia, the US, and Japan, and has raised approximately $100 million to date. Aurora Labs developed a platform that detects and predicts software problems in vehicles and automatically fixes issues in real time. The platform also enables automakers to deliver over-the-air software updates. The company is Tel Aviv-based and currently focuses primarily on automotive customers while preparing to enter connected homes and smart cities. Aurora Labs works with four global automakers and an electronics company and is moving toward series production with two automotive customers. It has a 30-person team and plans to double headcount using the newly raised funds. Investors are expected to help support expansion into additional markets given their presence across industries. Aurora Labs has built a platform that detects and predicts software problems in vehicles, automatically fixes issues on the fly, and provides over-the-air updates for electronic control units. The technology aims to reduce costly software-related recalls and downtime as vehicles grow more software-dependent. The company says it has locked in three unnamed automakers as customers and currently has pilots underway. Aurora Labs emerged from stealth a few months ago and is headquartered in Tel Aviv with a new office in Munich. The firm has 17 employees and plans to add more staff by year-end and open sales offices in Detroit and San Francisco. CEO and co-founder Zohar Fox and co-founder Ori Lederman see the product addressing needs for both connected cars and future autonomous vehicles. Aurora Labs develops a self-healing software platform for connected cars that monitors on-board vehicle software to detect anomalies before they lead to malfunctions. The platform generates new datasets for diagnostic purposes and enables providers to dispatch universal Delta Over-the-Air (OTA) updates for any vehicle system. The technology is aimed at proactively managing and reducing the costs of multibillion-dollar software recalls in the automotive industry. Aurora Labs came out of stealth with $2.7M in seed funding and intends to use the funds to run several live projects with major OEMs. The seed round was backed by Maniv Mobility, MizMaa Ventures, Expansion Venture Capital and Trucks Venture Capital. Founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), the company is based in Tel Aviv, Israel.

Participated · Seed · Jul 2020

Enduvo provides a platform that lets users create, distribute and consume interactive, immersive experiences across tablets, computers and AR/VR devices. The product targets distance-based communication, collaboration and training and is designed so anyone, regardless of technical know-how, can author content quickly. Enduvo’s clients include organizations in the military, healthcare and education sectors, such as the US Air Force, the National Institutes of Health and the University of Illinois College of Medicine. The company is led by chairman and CEO Steve Garrou and is based in Chicago, IL. Enduvo plans to use the newly raised funds to scale development, deployment and adoption of its platform. Financially, the company secured a $4M seed round to support those growth objectives. Enduvo is an immersive content authoring and delivery platform that lets users in healthcare, mechanical, and technical industries create and share AR/VR content in minutes without technical training. Led by CEO Steve Garrou and based in Chicago, the company provides tools for teaching, learning, and collaboration across hospitals and industrial settings. Since inception, Enduvo has extended use of its platform beyond hospitals to government, manufacturing, and other industrial customers. It collaborates with AR/VR hardware companies including Dell, HP, HTC VIVE, Intel, and Oculus to support deployment. Enduvo is the first commercial product to come out of Jump Arches, part of OSF Innovation, which supports collaboration between University of Illinois engineers and OSF HealthCare clinical teams. The company plans to use its recent seed financing to accelerate development of new features and scale deployment to customers in manufacturing, government, healthcare, and technical industries.

Participated · Equity · Sep 2019

Arceo.ai supplies insurers, brokers, and end customers with real-time cyber risk data, analytics, and policy recommendations to expand the size and scope of the cyber insurance market. The platform collects internal, external, and macro risk signals across a customer’s digital footprint, automates data collection, and integrates with underwriting processes to keep assessments current. Using patented data science and cyber risk models, Arceo generates analytics-driven insights, benchmarking, and specific insurance recommendations tied to policy coverages. For end-insured customers the company provides mitigation guidance and industry benchmarking to improve cyber hygiene. The leadership team includes co-founders Raj Shah and Vishaal Hariprasad, who have deep national-security and cybersecurity backgrounds and previously sold Morta Security to Palo Alto Networks. Arceo recently added Hemant Shah to its board and Mario Vitale as president and intends to use new capital to expand and scale its offerings across insurers and brokers.

Participated · Series B · Jul 2019

Kyndi builds an explainable AI platform that scores the provenance and origin of each document and helps users quickly locate difficult-to-find information across document collections without requiring large labeled datasets. The platform can be used alongside robotic process automation (RPA) tools to analyze text and automate inefficient workflows. Customers include Fortune 500 pharmaceutical companies and government agencies. The company was founded in 2014 by CEO Ryan Welsh and is based in San Mateo, California. Kyndi raised $20m in a Series B and intends to use the funds to expand its engineering and sales teams. Intel Capital led the round and its Investment Director Sunil M. Sanghavi will join Kyndi's board of directors. Kyndi builds artificial intelligence products and solutions that help organizations anticipate and act on future intentions, opportunities and threats. Its patented natural-language understanding technology analyzes massive amounts of unstructured data and can work with small datasets to identify very weak signals that reveal seemingly unknowable intentions. Kyndi serves business and governmental customers and positions its platform to create fully auditable knowledge faster so customers can act decisively. The company says customers achieve strong ROI by dramatically amplifying productivity and generating the critical answers and intelligence they need. Kyndi closed an $8.5 million Series B, bringing total funding to $12 million. Based in Palo Alto/Silicon Valley, the company was founded in 2014 and has doubled in size each year since founding.