Recent Deals – 3 December
Tokamak fusion systems, reusable modular orbital vehicles, and an AI-powered platform that optimizes protein development: Recent Deals worth looking at
Agriculture & Food
Agri Lab Leverage (2022) develops plant co-products from agricultural production by requalifying them into human nutrition via proprietary processes. Their manufacturing process transforms plant co-products into ingredients such as antioxidant, acidifiers, dietary fibers and recovered secondary product.
On November 19th, Agri Lab Leverage raised $1.7M in funding, including $94K in equity. Investors Foodara, UTC Alumni & Side Angels, Plateau de Saclay BA (PCSBA), Femmes BA, and TimeToAct Capital all participated in the round.
The funding will be used to scale industrial production. Through the capital, AgriLab’s operational team will roll-out its program with its partners, strengthening the company’s patent portfolio and implementing its commercial rollout to customers in the agri-food sector.
Energy & Power
Tokamak Energy (2009) generates fusion power via a tokamak system. Their technology for fusion neutron source transmutes nuclear waste and produces medical isotopes and new materials.
On November 20th, Tokamak Energy raised $125M in growth equity funding from British Patient Capital, East X Ventures, Lingotto Investment Management, Furukawa Electric, BW Energy and Sabanci Ventures.
The capital will be used to advance the commercialization of its technology to address the growing demand from the fusion energy market. Furthermore, the funding will also advance Tokamak’s fusion plant design program and validate new fusion technologies.
Materials & Chemicals
Cradle Bio (2021) provides an AI-powered platform for developing novel proteins used in the agri-food, healthcare, and chemical industries. Cradle Bio’s platform tackles multiple properties and optimization tasks in a single round.
Cradle Bio’s November 26th round raised $73M in Series B funding from IVP, Index Ventures and Kindred Capital.
The funding will help Cradle accelerate three key areas. First, it will expand its wet lab to further research into additional protein modalities and properties to improve its foundational models, before growing its engineering team to tackle more complex protein engineering challenges and scaling its go-to-market and operations.
Resources & Environmental Management
Predium (2021) develops an ESG platform for real estate and buildings. Predium’s platform utilizes existing data, satellite images, AI and 3D models to provide key ESG metrics, risk assessments, decision making support, financial indicators, and renovation priorities.
Predium raised $13.7M in a Series A funding round led by Norrsken VC, alongside the participation of existing investors UVC Partners (Entrepreneurship Venture Capital), b2venture and Mutschler Venture on November 28th.
The funding will help Predium enhance its software platform and expand into new markets.
Transportation & Logistics
The Exploration Company (2021) is a spacecraft manufacturer developing modular and reusable orbital vehicles. It is currently developing Nyx, a reusable, refillable in-orbit spacecraft that can be launched from any heavy space launcher.
On November 18th, The Exploration Company closed a $160M Series B round, bringing total funding to $230M. Investors in the round include Balderton Capital, Plural, Bessemer Venture Partners, NGP Capital, French Tech Souveraineté, Deeptech and Climate Fonds, Bayern Kapital, EQT Ventures, Red River West, Cherry Ventures, Promus Ventures and Omnes Capital.
The investment will support development and testing of reusable in-orbit spacecraft and Nyx Earth’s maiden flight in 2028. The Exploration Company is on track to launch its mid-size capsule by 2025 and is the first European company to sign a Space Act Agreement with NASA.
Waste and Recycling
Epic Cleantec (2015) provides decentralized water treatment and reuse systems, recycles water for non-potable applications, recovered energy from wastewater heat, and produce high-quality soil amendments. Their OneWater system recycles up to 95% of a building’s wastewater with applications such as toilet flushing, irrigation, cooling towers, and clothes washing.
On November 21st Epic Cleantec raised $12M in Series B funding from angel investors Kathy Fields and Garry Rayant.
The funding will be used to accelerate the expansion of Epic Cleantec’s water reuse and resource recovery solutions across a portfolio of projects. The company has successfully commissioned some of the first building-scale onsite reuse projects throughout U.S. West and will be the first to deploy onsite water reuse systems into high-rises in several major American cities.
