MassVentures

MassVentures is a venture capital firm based in Waltham, Massachusetts, established in 1978 as a quasi-public corporation by the Massachusetts Legislature. The firm focuses on providing seed and early-stage funding to high-growth startups, facilitating their transition from concept to commercialization. MassVentures invests primarily in sectors such as information technology, healthcare, cybersecurity, e-commerce, mobile, manufacturing, and robotics. With a governance structure that includes an independent Board of Directors and management by experienced venture capitalists, MassVentures leverages the state's entrepreneurial spirit and innovation centers to support the Massachusetts innovation economy. The firm also offers accelerator programs to further assist emerging companies in their growth journey.

Charles Hipwood

Founder President and CEO

Charlie Hipwood

President and CEO

Vinit Nijhawan

Managing Director

Nicholas A. Pappas

Vice President

Stacy Swider

Vice President, Investments

Priya Yadav

Vice President, Investments

Past deals in Defence

Transcend Air

Grant in 2024
Transcend Air is a company focused on designing and developing advanced aircraft to enhance private air travel experiences. It specializes in vertical takeoff and landing (VTOL) technology, catering to commercial, private, and military aviation needs. The company aims to offer a short-haul scheduled airline service connecting various cities, providing clients with high-speed aircraft for passenger transport and military cargo operations. Through its innovative approach to aircraft design, Transcend Air seeks to redefine the accessibility and efficiency of air travel.

Guardion

Grant in 2024
Guardion is a technology company specializing in advanced sensor technology, particularly in the development of radiation detectors that utilize the quantum properties of nanomaterials. This innovative approach allows Guardion to create low-cost, highly sensitive, and energy-efficient detectors suitable for large-scale deployment, especially in urban environments. The company focuses on applications that demand high sensitivity and miniaturization, providing analytical instruments and chemical detectors that serve various industries, including aerospace, healthcare, and national security. Guardion has received recognition for its contributions to the field, winning multiple awards such as the MassChallenge Gold Prize and the Technology in Space Prize from CASIS and Boeing. Additionally, the company participated in the inaugural cohort of the Techstars Autonomous Tech Accelerator, which is sponsored by the Air Force.

Phoenix Tailings

Grant in 2023
Phoenix Tailings Inc. is a company focused on producing primary metal products from mining tailings, with a commitment to sustainability and economic efficiency. Founded in 2019 and based in Woburn, Massachusetts, the company specializes in the recycling and re-mining of hazardous by-products, particularly Bauxite Residue, from the aluminum industry. By treating mining and refining waste as a new source of ore, Phoenix Tailings aims to extract strategic materials essential for various industries, including aerospace, defense, automotive, biotechnology, and more. The company's innovative approach not only facilitates the recovery of valuable metals but also addresses environmental concerns by reducing hazardous waste and providing carbon-free alternatives for metal sourcing.

Jetcool

Series A in 2022
Jetcool Technologies Inc., established in 2019 and headquartered in Littleton, Massachusetts, specializes in the research and development of advanced chip cooling solutions. The company offers a range of cooling products, from bare die to system level, and provides customized solutions. Jetcool's innovative microjet cooling modules, developed at MIT Lincoln Laboratory, are designed to efficiently cool high-power electronics in industries such as defense and aerospace, advanced semiconductors, data centers, and electric vehicle power systems. The company's technology, published in several academic papers, uses small jets of fluid to cool components at the chip or device scale, enabling manufacturers to create more durable, energy-efficient products.

Mesodyne

Grant in 2022
Mesodyne is an engineering and manufacturing company focused on innovative electricity generation solutions, notably through its patented LightCell technology, which efficiently converts various fuels into electricity using light. Founded in 2018 by Drs. Veronika Stelmakh and Walker Chan, the company aims to deliver robust, portable, and reliable power generation systems tailored for military and commercial applications. Mesodyne's compact power generators enhance the endurance of small autonomous systems by providing efficient alternatives to traditional batteries, thereby reducing the burden on dismounted warfighters and emergency responders. Additionally, these generators extend the operational range of unmanned vehicles, wearables, and other critical equipment, bridging the gap between batteries and internal combustion engines.

Mesodyne

Grant in 2021
Mesodyne is an engineering and manufacturing company focused on innovative electricity generation solutions, notably through its patented LightCell technology, which efficiently converts various fuels into electricity using light. Founded in 2018 by Drs. Veronika Stelmakh and Walker Chan, the company aims to deliver robust, portable, and reliable power generation systems tailored for military and commercial applications. Mesodyne's compact power generators enhance the endurance of small autonomous systems by providing efficient alternatives to traditional batteries, thereby reducing the burden on dismounted warfighters and emergency responders. Additionally, these generators extend the operational range of unmanned vehicles, wearables, and other critical equipment, bridging the gap between batteries and internal combustion engines.

14bis Supply Tracking

Grant in 2021
14bis Supply Tracking is a developer of a supply chain and logistics platform specifically designed for the aerospace and defense sectors. The company focuses on improving safety and transparency within supply chain management by reducing the risks associated with unapproved parts and addressing high administrative costs linked to traditional paper-based documentation. Its innovative platform leverages blockchain technology and data analytics to enhance asset tracking and provide end-to-end visibility, allowing organizations to streamline operations and improve compliance. 14bis Supply Tracking is adaptable to any industry ERP platform and tagging mechanism, making it a versatile choice for supply chain managers. The company has garnered recognition for its contributions to the industry, being named a finalist in the Privacy/Security category at SXSW 2018, winning the Accenture Innovate Award at Web Summit 2017, and being featured as a startup at the Paris Air Show 2017.

Jetcool

Venture Round in 2021
Jetcool Technologies Inc., established in 2019 and headquartered in Littleton, Massachusetts, specializes in the research and development of advanced chip cooling solutions. The company offers a range of cooling products, from bare die to system level, and provides customized solutions. Jetcool's innovative microjet cooling modules, developed at MIT Lincoln Laboratory, are designed to efficiently cool high-power electronics in industries such as defense and aerospace, advanced semiconductors, data centers, and electric vehicle power systems. The company's technology, published in several academic papers, uses small jets of fluid to cool components at the chip or device scale, enabling manufacturers to create more durable, energy-efficient products.

InstantEye Robotics

Grant in 2021
InstantEye Robotics is a division of Physical Sciences Inc., both located in Andover Massachusetts, approximately a half-hour north of Boston. InstantEye Robotics’ tactical, unmanned aerial systems (UAS) are the systems of choice by the military, law enforcement, first responder, and commercial users around the world. Our products are characterized by their affordability, ruggedness, and ease of use. We provide full-spectrum solutions, from initial concepts through to products manufactured in our state-of-the-art production facility.

Physical Sciences

Grant in 2020
Physical Sciences Inc., founded in 1973 and headquartered in Andover, Massachusetts, provides contract research and development services across a wide range of technical areas for both government and commercial clients. The company specializes in advanced imaging and sensing technologies, offering products such as adaptive infrared imaging spectroradiometers, compact adaptive optics retinal imagers, and miniature diode laser-based ambient gas sensors. Additionally, Physical Sciences develops and supplies various analytical technology sensors, mass flux monitors, and laser-based detection systems. The company's engineering services include system engineering, instrument testing and calibration, and the development of electrochemical engineering solutions. It serves diverse markets, including aerospace, energy, biomedical, defense, and telecommunications, through direct sales, strategic partnerships, and licensing agreements both domestically and internationally. With satellite offices in California, Maryland, Ohio, and Massachusetts, as well as a subsidiary in New Jersey, Physical Sciences leverages its extensive expertise to address complex challenges in multiple industries.

Analog Photonics

Grant in 2020
Analog Photonics is an electronic company focused on the development of advanced photonics integrated circuits and high-performance silicon products. It specializes in creating LiDAR and optical communications technologies that facilitate high-speed communication. By leveraging a combination of silicon and silicon nitride as core waveguide layers, Analog Photonics produces application-specific integrated circuits tailored for a variety of sectors, including automotive, industrial, and defense. The company aims to provide innovative photonic components that meet the demands of modern technological applications.

14bis Supply Tracking

Seed Round in 2020
14bis Supply Tracking is a developer of a supply chain and logistics platform specifically designed for the aerospace and defense sectors. The company focuses on improving safety and transparency within supply chain management by reducing the risks associated with unapproved parts and addressing high administrative costs linked to traditional paper-based documentation. Its innovative platform leverages blockchain technology and data analytics to enhance asset tracking and provide end-to-end visibility, allowing organizations to streamline operations and improve compliance. 14bis Supply Tracking is adaptable to any industry ERP platform and tagging mechanism, making it a versatile choice for supply chain managers. The company has garnered recognition for its contributions to the industry, being named a finalist in the Privacy/Security category at SXSW 2018, winning the Accenture Innovate Award at Web Summit 2017, and being featured as a startup at the Paris Air Show 2017.

Physical Sciences

Grant in 2020
Physical Sciences Inc., founded in 1973 and headquartered in Andover, Massachusetts, provides contract research and development services across a wide range of technical areas for both government and commercial clients. The company specializes in advanced imaging and sensing technologies, offering products such as adaptive infrared imaging spectroradiometers, compact adaptive optics retinal imagers, and miniature diode laser-based ambient gas sensors. Additionally, Physical Sciences develops and supplies various analytical technology sensors, mass flux monitors, and laser-based detection systems. The company's engineering services include system engineering, instrument testing and calibration, and the development of electrochemical engineering solutions. It serves diverse markets, including aerospace, energy, biomedical, defense, and telecommunications, through direct sales, strategic partnerships, and licensing agreements both domestically and internationally. With satellite offices in California, Maryland, Ohio, and Massachusetts, as well as a subsidiary in New Jersey, Physical Sciences leverages its extensive expertise to address complex challenges in multiple industries.

SicDrone

Grant in 2020
SicDrone is a manufacturer based in Portland, Oregon, specializing in unmanned aircraft systems and drones. The company produces advanced 360-degree tilt rotor aerial flight systems designed for various applications, including emergency response, border patrol, security, and infrastructure inspection. SicDrone's products feature interchangeable and modular cameras and sensors, allowing for enhanced aerial imaging and overhead mapping capabilities. Their versatile drones cater to the needs of defense agencies and other sectors requiring reliable aerial surveillance and inspection solutions.

14bis Supply Tracking

Seed Round in 2019
14bis Supply Tracking is a developer of a supply chain and logistics platform specifically designed for the aerospace and defense sectors. The company focuses on improving safety and transparency within supply chain management by reducing the risks associated with unapproved parts and addressing high administrative costs linked to traditional paper-based documentation. Its innovative platform leverages blockchain technology and data analytics to enhance asset tracking and provide end-to-end visibility, allowing organizations to streamline operations and improve compliance. 14bis Supply Tracking is adaptable to any industry ERP platform and tagging mechanism, making it a versatile choice for supply chain managers. The company has garnered recognition for its contributions to the industry, being named a finalist in the Privacy/Security category at SXSW 2018, winning the Accenture Innovate Award at Web Summit 2017, and being featured as a startup at the Paris Air Show 2017.

ePaint Company

Grant in 2019
ePaint Company develops specialty antifouling coatings for the United States Coast Guard, The United States Navy, NOAA, Woods Hole Oceanographic Institute, and the U.S Geological Survey. The ongoing research has resulted in three patents.

Physical Sciences

Grant in 2018
Physical Sciences Inc., founded in 1973 and headquartered in Andover, Massachusetts, provides contract research and development services across a wide range of technical areas for both government and commercial clients. The company specializes in advanced imaging and sensing technologies, offering products such as adaptive infrared imaging spectroradiometers, compact adaptive optics retinal imagers, and miniature diode laser-based ambient gas sensors. Additionally, Physical Sciences develops and supplies various analytical technology sensors, mass flux monitors, and laser-based detection systems. The company's engineering services include system engineering, instrument testing and calibration, and the development of electrochemical engineering solutions. It serves diverse markets, including aerospace, energy, biomedical, defense, and telecommunications, through direct sales, strategic partnerships, and licensing agreements both domestically and internationally. With satellite offices in California, Maryland, Ohio, and Massachusetts, as well as a subsidiary in New Jersey, Physical Sciences leverages its extensive expertise to address complex challenges in multiple industries.

Optodot

Grant in 2017
Optodot Corporation is a Woburn, Massachusetts-based company established in 2000, specializing in the development of nanotechnology-based components for energy storage, conservation, and generation markets. The company is known for its NanoPore separator, which employs a patented coating process to create nanoporous ceramic membranes. Optodot also produces lithium-ion battery separators, secure infrared coated films for security applications, and various window films. Its focus extends to optical communications technologies, including optical switches, modulators, and photo detectors, aimed at enhancing optical transport networks. Additionally, Optodot offers intellectual property and product development services, while pursuing strategic partnerships and licensing opportunities to commercialize its innovations in energy, security, and communications. The company serves a diverse clientele, including start-ups, major corporations, and government agencies such as the Department of Defense and the Department of Energy.

Metamagnetics

Grant in 2017
Metamagnetics is a company that specializes in developing radiofrequency and microwave products aimed at enhancing the performance of mission-critical systems in defense and commercial sectors. Their offerings include auto-tuning filters, power electronics cores, ferrite circulators and isolators, ferrite phase shifters, high-power microwave components, and microwave ferrite filters. By providing these advanced solutions, Metamagnetics enables clients to improve the efficiency, effectiveness, and overall performance of their radar, communication, and power supply systems. The company's focus on optimizing size, weight, power, and total cost allows organizations to design and deploy innovative solutions that meet the demanding requirements of security, surveillance, and communication applications.

Silverside Detectors

Grant in 2017
Silverside Detectors is a technology company that develops nuclear radiation detection technologies to protect cities and citizens from nuclear terrorism. It designs and develops adaptable radiation detectors. These detectors can be installed in urban and transit infrastructure for nuclear detection. The company develops inexpensive thermal neutron detectors that can be a building block for large-area networked scanning and other future solutions for nuclear threat reduction.

Metamagnetics

Grant in 2015
Metamagnetics is a company that specializes in developing radiofrequency and microwave products aimed at enhancing the performance of mission-critical systems in defense and commercial sectors. Their offerings include auto-tuning filters, power electronics cores, ferrite circulators and isolators, ferrite phase shifters, high-power microwave components, and microwave ferrite filters. By providing these advanced solutions, Metamagnetics enables clients to improve the efficiency, effectiveness, and overall performance of their radar, communication, and power supply systems. The company's focus on optimizing size, weight, power, and total cost allows organizations to design and deploy innovative solutions that meet the demanding requirements of security, surveillance, and communication applications.

Energid Technologies

Grant in 2015
Energid Technologies Corporation, founded in 2001 and based in Bedford, Massachusetts, specializes in developing advanced software solutions for robotics. The company is known for its Actin software development kit, which provides real-time and adaptive motion control capabilities. Energid's software addresses complex kinematics and dynamics challenges across various applications, including industrial automation, medical devices, aerospace, agriculture, and defense. By offering products and support tailored to the needs of diverse sectors, Energid Technologies aims to facilitate the deployment of autonomous and collaborative robotic systems, enhancing operational efficiency and precision in demanding environments. As of February 2018, Energid operates as a subsidiary of Teradyne, Inc.

Physical Sciences

Grant in 2015
Physical Sciences Inc., founded in 1973 and headquartered in Andover, Massachusetts, provides contract research and development services across a wide range of technical areas for both government and commercial clients. The company specializes in advanced imaging and sensing technologies, offering products such as adaptive infrared imaging spectroradiometers, compact adaptive optics retinal imagers, and miniature diode laser-based ambient gas sensors. Additionally, Physical Sciences develops and supplies various analytical technology sensors, mass flux monitors, and laser-based detection systems. The company's engineering services include system engineering, instrument testing and calibration, and the development of electrochemical engineering solutions. It serves diverse markets, including aerospace, energy, biomedical, defense, and telecommunications, through direct sales, strategic partnerships, and licensing agreements both domestically and internationally. With satellite offices in California, Maryland, Ohio, and Massachusetts, as well as a subsidiary in New Jersey, Physical Sciences leverages its extensive expertise to address complex challenges in multiple industries.

Visible Good

Grant in 2014
Visible Good is a Massachusetts based corporation established in 2012. Through successful efforts within the Army SBIR (Small Business Innovation Research) program, Visible Good completed the development of a one of a kind innovative shelter system that can be deployed quickly and efficiently in almost any environment. Its products create a solution that is energy-efficient, sustainable, and affordable.

Energid Technologies

Grant in 2013
Energid Technologies Corporation, founded in 2001 and based in Bedford, Massachusetts, specializes in developing advanced software solutions for robotics. The company is known for its Actin software development kit, which provides real-time and adaptive motion control capabilities. Energid's software addresses complex kinematics and dynamics challenges across various applications, including industrial automation, medical devices, aerospace, agriculture, and defense. By offering products and support tailored to the needs of diverse sectors, Energid Technologies aims to facilitate the deployment of autonomous and collaborative robotic systems, enhancing operational efficiency and precision in demanding environments. As of February 2018, Energid operates as a subsidiary of Teradyne, Inc.

Intrinsix

Grant in 2013
Intrinsix Corp. is a privately held company that specializes in electronics and custom integrated circuit (IC) design engineering solutions. The company serves various industries, including aerospace, automotive, and military sectors. Intrinsix offers a range of services, including metrics-based verification, architectural modeling, silicon realization, and chip drafting. Its expertise encompasses the design of custom digital, analog, and mixed-signal integrated circuits, as well as sensors, system-on-a-chip products, and field-programmable gate array circuits.

Ande

Grant in 2013
Ande Corporation specializes in providing rapid DNA analysis solutions, focusing on technologies for sample preparation, DNA purification, thermal cycling, amplification, sequencing, and detection. The company's products are designed for various applications including criminal forensics, military human identification, biothreat detection, and clinical diagnostics. Ande's solutions are user-friendly enough to be operated by non-technical personnel outside the laboratory, making them valuable for law enforcement, homeland security, and intelligence communities. Based in Longmont, Colorado, Ande Corporation was incorporated in 2000 and aims to enhance societal safety and health by bringing DNA analysis from the lab to the field.

CapeSym

Grant in 2012
CapeSym specializes in developing innovative radiation detection solutions. The company manufactures advanced semiconductors designed for nuclear detection, including scintillators such as SrI2(Eu) and CLYC(Ce), as well as TlBr and CdZnTe semiconductors. In addition to its product offerings, CapeSym provides consulting services to corporations and U.S. defense agencies in areas such as thermal management, crystal growth, advanced materials technologies, biomedical devices, and the design and fabrication of industrial equipment. Through these efforts, CapeSym contributes to the imaging industry by delivering effective radiation detectors and thermal analysis techniques.

Incom

Grant in 2012
Incom is a supplier specializing in glass and polymer fused fiber optic solutions, catering to various sectors including medical, scientific, display, and defense industries. The company focuses on providing innovative components and technological expertise to enhance product development and improve user experience for customers, researchers, and instrument makers. Through its advanced solutions, Incom plays a significant role in driving innovation across these diverse fields.

KaZak Composites

Grant in 2012
KaZak Composites is an engineering design and manufacturing company based in Woburn, Massachusetts, specializing in composite engineering and pultrusion processing. The company focuses on providing low-cost automated manufacturing solutions for composite structures, catering to diverse applications such as ship and building structures, space systems, and various commercial uses. With a strong emphasis on serving the aerospace and defense sectors, KaZak Composites leverages advanced technology to deliver efficient and cost-effective composite solutions.

ThreeCore

Series A in 2001
ThreeCore, Inc. is a consulting and supply chain services provider based in Beverly, Massachusetts, specializing in solutions for technology-driven industries such as semiconductor, electronics, telecommunications, and aerospace. Founded in 1999 as Assistantbuyer, Inc. and rebranded in 2001, the company offers a range of services including strategic outsourcing, operational consulting, and integrated supply chain management. ThreeCore's consultants leverage their extensive industry experience to assist organizations in navigating competitive markets and implementing effective change strategies. They focus on developing leaner enterprises by collaborating with clients to identify unique challenges and design tailored solutions. By utilizing root cause analysis and hands-on expertise, ThreeCore's team helps clients optimize their supply chains, enhance product design, and drive operational efficiency. Their commitment to building long-term relationships has enabled them to provide immediate and effective support, addressing the evolving needs of their clients in a fast-paced business environment.
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