Participated · Series B · Sep 2020

Cogniac provides a computer-vision platform that connects machine-vision cameras, security cameras, drones, smartphones, and other image sources to generate custom AI models for tasks like damage detection, quality-control inspections, counting, and threat detection. The platform continuously improves classification and prediction via a feedback loop, prioritizing low-confidence predictions for human review and adapting models from archival imagery or user-entered data. Cogniac says its deep convolutional neural network models can reach over 90% accuracy prior to human corrections and support cloud, gateway, on-premises, and hybrid deployments. Customers include Georgia Pacific, Bobcat, and Trimac Transportation, and the company has participated in trials and contracts with U.S. government agencies, though it says government work is a small portion of its business. Cogniac is a member of Nvidia’s Inception accelerator program and lists partners such as SAP and Rockwell Automation. The company plans to use new funding to expand its workforce and ramp up R&D around computer vision, data storage, and human–AI interactivity. Cogniac provides an enterprise-class AI image and video analysis platform that builds inspection workflows for enterprises. Its deep-learning platform automates visual inspection tasks such as classifying, detecting, counting and measuring to human-level accuracy and beyond. The company serves global customers across automotive, industrial, rail, packaging, logistics, security and defense. Led by CEO Chuck Myers, Cogniac intends to use the new funding to hire key staff, expand sales and marketing, and support growth. Since its 2019 Series A, the company has experienced 78% year-over-year revenue growth and expanded its customer base. The business raised a $10M Series B to fund these initiatives.

Participated · Equity · Feb 2010

Eden Park Illumination develops a 36-square-inch, quarter-inch-thick microplasma lighting panel made of two pieces of glass, a phosphor, wire mesh and an emitter. In its current form the panel produces about 15–20 lumens per watt, delivers roughly 40–60 watts of light output, and is rated for about 50,000 hours of life. The company expects to raise panel efficiency significantly by 2012 and says it could reach 100 lumens per watt in real-world conditions within two years. Initial applications are indoor: the company will focus on office lighting first, then cabinet lighting and wall tiles, and positions the product for hard-to-reach installations where longevity matters. The panel is expected to sell for about $30, with distribution still being arranged. Eden Park has secured outside capital to commercialize the product and is also being evaluated by the U.S. Air Force for potential applications.

Participated · Equity · Jul 2009

SolFocus develops concentrator photovoltaic (CPV) systems that combine high‑efficiency solar cells (approaching 40%) with advanced optics to provide lower‑cost solar energy. The company’s stated mission is to enable solar energy generation at a levelized cost of energy competitive with traditional fossil fuels. It received $3M in equipment financing from ATEL Ventures to support high‑volume manufacturing. The financing is equipment financing from ATEL Ventures, a provider of secured financing to emerging growth companies. SolFocus is venture‑backed by New Enterprise Associates and Apex Ventures. The company is headquartered in Mountain View, California, with European operations in Madrid, manufacturing in Mesa, Arizona, and manufacturing partners in China. SolFocus designs and assembles concentrating solar power systems that use glass reflectors to focus sunlight up to 650 times onto gallium-arsenide solar cells. The company purchases the expensive gallium-arsenide cells from third parties and integrates them with its reflector architecture, which is currently in small pilot mode. It operates a factory in Mesa, Ariz. that produces about 30 megawatts worth of glass reflectors per year. SolFocus has begun commercial deployments, supplying reflectors for a 500-kilowatt project in Spain and a 7.2-kilowatt system in San Francisco, and has secured deals to provide 10-megawatt packages to Greece’s Samaras Group and another 10-megawatt order with EMPE Solar in Spain. Management says it has started bringing in steady revenue and plans to use new financing to commercialize and expand production, though the company faces short-term pressure from falling silicon prices that could reduce demand for concentrating technology. The article reports the company has raised significant capital to date, which may help attract government support for expansion. SolFocus develops concentrator solar technology that uses mirrors to focus sunlight onto solar cells to squeeze more energy out of less silicon. Multiple venture firms, including Nth Power, were competing to invest and had been valuing the company in the single‑digit or low‑teens of millions. New Enterprise Associates, led by partner Scott Sandell, offered a $70 million valuation after a brief review and led the aggressive bid. SolFocus had planned to raise $12.5 million but ended the process with $32 million in the bank. Existing seed investor NGEN had provided seed funding months earlier and saw its investment converted into the value of the latest round, which effectively raised the price NGEN paid. The article frames NEA’s move as aggressive and notes expectations of more such activity in clean‑tech investing.