july 2024 UPDATES
FUND III
Acquired Helio Home, the leading home electrification provider in Denver with over 300 installations completed, and started customer installations in Vancouver.
Completed their 60th vineyard install of 2024–4X their total 2023 vineyard count. Closed a pilot with one of the top 3 wine growers globally that will roll out in Q3.
Founder, Josh Wong, was the opening keynote speaker at AESP SummerCon plenary session, where he discussed the intersection between demand flexibility, AI, and the future of the grid.
Finished assembly of their 5 DV-1A vehicles for testing in India. Finished development of POC swap station and performed their first full ecosystem demonstration including a bike, battery, and swap.
FUND II
Grew sales pipeline by $696k, increasing average deal size to $77k and attracting larger, multi-year contracts during the height of the growing season. Added multiple grant opportunities and new partnerships including a potential DOE grant around N2O reduction and a large sorghum deal.
Completed a $4.4M bridge financing round and received $1.2 million in grant funding through the Massachusetts Manufacturing Innovation Initiative (M2I2).
Landed pilots with Factor and Shef, signed their first B2B supply chain customer (Google x Guckenheimer), and expanded Thistle coverage to SoCal.
Hired a new peak caller and closed an additional $28k for their PriceSignal product.
Began planning for a supply and demand side collaboration for their HVAC OS ecosystem with the largest ventilation manufacturing company in the world.
Added 2000 new card members in 3 new urban markets: the DC-Baltimore Metro, Boston and San Francisco.
Began manufacturing their first large system to be shipped later this year.
80% of customers are now in the power-adopters category, using the tool more as a result of good CX and product improvements. Nearing completion of their CRM set-up and target lists to start accelerating sales and kick off GTM.
Signed their first contract in Maryland, further establishing the company's national footprint.
General Lattice launched their commercial CAD application powered by Metafold's geometry kernel API, marking the first commercial scale use of the API and demonstrating the industrial-strength quality of their geometric infrastructure for additive manufacturing.
Received 5 RFPs and grants in July–their highest market traction within a single month to date.
Successfully passed detailed technical evaluation trials with a leading global renewable energy developer and a top EPC firm, while receiving confirmation of intent to adopt from an O&G supermajor.
Demonstrated 6.5% savings with G&W QGRY railroad with their third-party consultant's analysis.
Completed a successful factory accept test for a 100 kWh unit.
Announced that their technology is powering World Collective Hub, a transactional marketplace connecting eco-friendly suppliers with leading brands in the digital space.
FUND I
Hosted a panel session at CWE Summit. Completed installation of their Micro-Aeration Unit at the Temple, Texas site.
Hosted a panel at the Information Management Network (IMN) ESG & Decarbonizing Real Estate Forum in Orange County.
Proved out an engineering-scale pilot of its FrostCC™ cryogenic carbon-capture technology at the National Carbon Capture Center (NCCC) in Wilsonville, Alabama. The system achieved performance expectations, reaching 1,000 hours of carbon capture.
Publicly announced their partnership with Kian Group. Won the ARCHIDEX Star Award for product design and technological superiority.
Expanded to the solar fleet of an existing Canadian wind customer and onboarded 250 MW of wind farms in Mexico. Their market intelligence was used to increase a UK based offshore wind farm’s valuation by $15M.
Closed 2 new expansion deals representing 37 locations across two name-brand franchises. Added 6 school districts representing 67 schools and $19k ARR for their monitoring product.
Signed a partnership with a large multinational cell tower operator representing 250 sites. Unlocked $1M in debt funding from Rippleworks.
Reorganized team structure and fine tuned their ideal customer profile as part of seeking increased product market fit and a return to revenue growth.
Reignited conversations with a major DFI for a 6 figure contract covering reporting for its impact investing footprint.
Their digital rebate offering contributed 100% of July revenue after being launched earlier this year. Co-hosted a webinar with Startup CPG and SAYSO on leveraging digital sampling to drive trial and velocity, attended by 200+ targeted CPG registrants.
Launched an integration with Rent Manager, a leading property management software platform.