DCVC
Canvas Category Consultancy : Company : Venture Capital
DCVC backs entrepreneurs solving trillion-dollar problems to multiply the benefits of capitalism for everyone while reducing its costs. Deep Tech is a potent approach to this challenge that enables more for less - now and for this century. For over twenty years, DCVC and its principals have backed brilliant entrepreneurs applying Deep Tech, from the earliest stage and beyond, to pragmatically and cost-effectively tackle previously unsolvable problems in nearly every industry, especially those that haven’t seen material technological progress in decades. Together, we have created tens of billions of dollars of value while also making the world a markedly better place.
Assembly Line
Fourth Power Secures $19M for Low-Cost Utility-Scale Thermal Energy Storage to Enable a Fully Renewable Grid
To meet the growing demand for renewable energy on the grid, Fourth Power has received $19 million in Series A funding to scale its cost-effective groundbreaking thermal battery technology. The investment round was led by the venture capital firm DCVC, with participation from Breakthrough Energy Ventures (BEV) and Black Venture Capital Consortium. In addition to helping scale the company’s thermal energy storage solution, which can store energy for both short- and long-term durations to be put back on the grid as electricity, the investment will initiate the construction of a 1 MWh-e prototype facility outside Boston, with a 2026 anticipated completion date.
🚚 Amogy Secures $139 Million Series B-1 Round of Funding, Moving the Transportation Industry Closer to Clean Energy
Amogy Inc., a pioneer of emission-free, energy-dense ammonia power solutions, today announced its $139 million Series B-1 fundraising. The round was led by SK Innovation, joined by other global investors including Temasek, Korea Zinc, Aramco Ventures, AP Ventures, MOL PLUS, Yanmar Ventures, Zeon Ventures and DCVC. This funding will enable Amogy to continue its organizational development to support commercialization, begin manufacturing of its innovative ammonia-to-power technology, and bring its first product to market in 2024.
Micro-fulfillment center automation startup Fulfil Solutions gains $60 million in funding
Fulfil Solutions announced today that it has emerged from stealth, with a B funding round of $60 million, and touting its robotic solution for grocery micro-fulfillment centers (MFCs), which it adds can be implemented in way that makes MFCs profitable. The $60 million Series B round of funding led by Eclipse with participation from Khosla Ventures and DCVC.
Recycleye raises additional $17m in Series A funding to reinvent recycling
Recycleye, provider of the most adapted and robust AI-driven solution for sorting dry mixed recycling, today announced a $17m Series A financing round, led by deep-tech venture capital firm DCVC.
Recycleye uses AI-powered waste-picking robots to lower the cost of sorting materials. This ground-breaking technology is turning the world’s waste into resource and delivering data essential for dynamic decision-making in a Material Recovery Facility (MRF). The new investment will be used to further improve the uncommon accuracy of Recycleye’s sorting.
Citrine Informatics Raises $7.6M to Revolutionize Materials-Driven Product Development With AI
Citrine Informatics, the chemicals and materials artificial intelligence (AI) platform, announced it has closed a $7.6 million Series A led by Eric Schmidt’s Innovation Endeavors, DCVC (Data Collective), and Prelude Ventures. Jerry Yang’s AME Cloud Ventures and XSeed Capital also joined the round. Citrine combines AI with the world’s largest materials database to help bring products to market faster. The company will use the funding to accelerate its early successes with Fortune 1000 customers.
Factories are getting smarter, yet the chemicals and alloys that produce cutting-edge products remain largely unchanged. The consequence of this mismatch is painful delay and cost to manufacturers. According to the National Academy of Sciences, new products can take two decades or more to go from initial design to market, with the intermediate step of developing new materials often taking the longest. Citrine dramatically reduces the time and cost of this process by providing a data-driven approach to predict and optimize materials behavior.