The Venture Codex

Participated · Seed · Nov 2025

Hermes Biosciences is a life-science tools startup focused on turning extracellular vesicles (EVs) into a practical and standardized resource for precision medicine. Its flagship product is a benchtop, fully automated instrument designed to isolate EVs at higher yield and purity than existing approaches, enabling more reliable downstream analysis for clinical researchers in academia, biopharma, and diagnostic laboratories. The company intends to launch its first commercial instrument in 2026, offering a scalable and hands-off workflow that can be integrated into regulated clinical environments. By improving EV capture, Hermes aims to advance biomarker discovery, non-invasive diagnostics, and targeted therapeutics. The San Francisco-based team is still pre-revenue, using newly secured capital to complete product development, expand manufacturing capabilities, and build out sales channels. The firm’s initial $6 million seed financing may grow as additional investors are engaged, giving Hermes runway to reach its commercialization milestones.

Led · Seed · Nov 2025

Planet Smart’s flagship product is PlanetSorb, a naturally biodegradable, high-performance superabsorbent polymer (SAP) derived from poly-amino acids that breaks down in soil or landfill within six months without leaving microplastics. The material absorbs more than one litre of liquid per gram—up to twice the capacity of conventional SAPs—allowing manufacturers to use less material for thinner, more comfortable products at comparable cost. The company has secured three letters of intent with leading hygiene manufacturers and received two purchase orders from European brands, validating early commercial interest. Independent lab testing confirms PlanetSorb is non-toxic, dermatologist-approved, and maintains high absorbency and liquid retention. With fresh capital, Planet Smart will scale beyond its current lab setup, run pilot trials, and target a production capacity of one kilotonne (roughly 45 million nappies) by the end of 2028. The team also plans to raise additional funds in 2026 to expand manufacturing and pursue licensing partnerships with global brands. Longer term, Planet Smart sees use cases for its biodegradable absorbents in agriculture, wound care, food packaging, and mining waste management.

Participated · Equity · Nov 2025

Founded in 2020, Backflip offers an all-in-one platform that combines deal-analysis software, market data and purpose-built financing products for residential real-estate investors. The company originates and services residential transition loans through its subsidiary Double Backflip, LLC, and recently formed Backflip Asset Management, LLC to manage loan assets in-house. By controlling origination, servicing and asset management, Backflip claims superior data integrity and a differentiated borrower experience. Its vertically integrated model has enabled the firm to tap institutional capital markets, most recently through an inaugural securitization, to lower its cost of funds and expand lending capacity. The platform supports entrepreneurs investing in single-family homes, thereby aiming to refresh housing supply in local communities. The new securitization structure provides up to $300 million of revolving lending capacity, positioning Backflip to scale nationwide. Backflip’s mobile app is available on iOS and Android, further extending its reach to individual investors.

Participated · Equity · Sep 2025

Inbox Health offers a cloud platform that uses artificial intelligence to generate clear, personalized medical bills and to automate multi-channel payment collection for healthcare providers. Patients can pay via credit card, digital wallet, ACH, phone or check, and can interact with human or AI support agents in 60 languages through calls, chat and email. The system feeds real-time payment posting, analytics and feedback dashboards back to practice staff, aiming to cut administrative workload and reduce unpaid balances. Recent partnerships include an enterprise rollout with CHE Behavioral Health Services and a deepened integration with Greenway Health’s Intergy EHR via the Greenway Marketplace. The company plans to devote new capital to further AI research focused on emotional intelligence and faster issue resolution. Since inception, Inbox Health has raised $55 million in equity financing across multiple rounds to fuel product expansion and market penetration.

Led · Seed · Apr 2025

heyLibby offers an AI-powered team member that answers calls, texts, emails and chats instantly and runs AI-driven outbound campaigns for fitness, wellness and recreation businesses. The product helps clients streamline customer communication, reduce churn, and drive revenue while freeing in-person staff to focus on service. heyLibby also provides a white-label AI solution for CRM providers, virtual assistant companies, and business consultants. The company is already used by over a thousand customers, including Arena Sports, Seattle Suntan, and Desert Sun, for booking and customer service. heyLibby plans to use new funding for expansion and AI advancements to improve its automation and engagement features. The company is based in Seattle, WA and was founded by Tony Small, Anna Rodriguez, and Spencer Rascoff.