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

Vinit Nijhawan

Managing Director

Nicholas A. Pappas

Vice President

Stacy Swider

Vice President, Investments

Priya Yadav

Vice President of Investments

Past deals in Electricity

Electrified Thermal Solutions

Venture Round in 2024
Electrified Thermal Solutions, founded in 2021 and based in Medford, Massachusetts, develops innovative energy storage technology. The company converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks, enabling industrial sectors to replace fossil fuels with zero-carbon heat.

Electrified Thermal Solutions

Grant in 2024
Electrified Thermal Solutions, founded in 2021 and based in Medford, Massachusetts, develops innovative energy storage technology. The company converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks, enabling industrial sectors to replace fossil fuels with zero-carbon heat.

Electrified Thermal Solutions

Grant in 2023
Electrified Thermal Solutions, founded in 2021 and based in Medford, Massachusetts, develops innovative energy storage technology. The company converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks, enabling industrial sectors to replace fossil fuels with zero-carbon heat.

Mesodyne

Grant in 2022
Founded in 2018 by Drs. Veronika Stelmakh and Walker Chan, Mesodyne is a pioneering engineering and manufacturing company specializing in innovative electricity generation methods. Their patented LightCell technology converts any fuel to electricity via light, providing rugged, long-lasting, portable power for military and commercial users.

Mesodyne

Grant in 2021
Founded in 2018 by Drs. Veronika Stelmakh and Walker Chan, Mesodyne is a pioneering engineering and manufacturing company specializing in innovative electricity generation methods. Their patented LightCell technology converts any fuel to electricity via light, providing rugged, long-lasting, portable power for military and commercial users.

Cala Systems

Grant in 2020
Altus Thermal, founded in 2019 and based in Boston, Massachusetts, focuses on transforming thermal energy solutions for residential settings. The company aims to enhance efficiency, comfort, and user experience while providing benefits to the electrical grid. Altus Thermal develops energy technology designed to electrify residential heating, cooling, and hot water systems. By maximizing performance and facilitating better integration with renewable energy sources and other distributed energy resources, the company enables homeowners to electrify their living spaces in an efficient and cost-effective manner.

Dynamo Micropower

Grant in 2018
Dynamo Micropower Corporation is a technology company focused on developing innovative fuel-flexible gas turbines tailored for small distributed generation in the oil and gas industry. Founded in 2011 and headquartered in Somerville, Massachusetts, the company offers advanced power solutions, including its PowerCore system, which provides reliable, grid-quality power while operating on local unrefined gas. This capability allows customers to significantly reduce energy costs, with savings of up to 80%, and enhances equipment performance by up to 25%. Dynamo also provides custom solutions and a flameless turboheater known as Infernocore, addressing the specific needs of oilfield applications. The company distributes its products through a network of distributors and offers support services via service partners, having established a solid customer base that includes notable clients such as Kinder Morgan and Caterpillar.

Medley Thermal

Grant in 2018
Medley Thermal develops software that optimally manages switching between energy sources in industrial boiler systems. Its solution adds an electric boiler alongside existing ones, using dispatching software to seamlessly manage fuel switching, enabling industries to reduce power costs and emissions.

MTPV

Grant in 2016
MTPV Power Corporation, established in 2003 and based in Austin, Texas, specializes in innovative clean energy solutions. The company focuses on developing Micron-gap ThermalPhotoVoltaics (MTPV) technology, originally researched at MIT and Draper Laboratory before being brought under MTPV Power's umbrella. Their core product is semiconductor chips designed to convert waste heat from various sources into usable electricity, benefiting industrial businesses by enhancing productivity while reducing energy costs.

Wright Electric

Grant in 2016
Wright Electric Inc. is a manufacturer of commercial electric airplanes, focusing on reducing costs and emissions in the aviation industry. Founded in 2016 and headquartered in Los Angeles, California, the company utilizes unique propulsion technology to create aircraft that eliminate emissions without relying on offsets. This innovation aims to make zero-emissions flight as economically viable as traditional fossil-fueled aviation, marking a significant step towards the electrification of the aerospace sector and fostering a sustainable future for air travel.

MTPV

Grant in 2016
MTPV Power Corporation, established in 2003 and based in Austin, Texas, specializes in innovative clean energy solutions. The company focuses on developing Micron-gap ThermalPhotoVoltaics (MTPV) technology, originally researched at MIT and Draper Laboratory before being brought under MTPV Power's umbrella. Their core product is semiconductor chips designed to convert waste heat from various sources into usable electricity, benefiting industrial businesses by enhancing productivity while reducing energy costs.

Dynamo Micropower

Grant in 2015
Dynamo Micropower Corporation is a technology company focused on developing innovative fuel-flexible gas turbines tailored for small distributed generation in the oil and gas industry. Founded in 2011 and headquartered in Somerville, Massachusetts, the company offers advanced power solutions, including its PowerCore system, which provides reliable, grid-quality power while operating on local unrefined gas. This capability allows customers to significantly reduce energy costs, with savings of up to 80%, and enhances equipment performance by up to 25%. Dynamo also provides custom solutions and a flameless turboheater known as Infernocore, addressing the specific needs of oilfield applications. The company distributes its products through a network of distributors and offers support services via service partners, having established a solid customer base that includes notable clients such as Kinder Morgan and Caterpillar.
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