VentureWell identifies and supports STEM student innovators as they move from initial idea to raising their first seed round. Each year, we make a select number of investments in alumni startups from our E-Team program. We offer matching seed stage funding to startups that have secured a sophisticated lead investor and can illustrate the impact of their solution and clear growth through their VentureWell experience. We make these investments through a donor-advised fund at ImpactAssets.
A new type of detonation engine that produces power more efficiently than conventional combustion engines
Additive that toughens fiber-reinforced composites by one hundred percent
Fiber-reinforced composites tend to fracture and delaminate under stress, causing severe mechanical failures during a machine’s lifetime. MITO Material Solutions developed a revolutionary nano-filler additive that can toughen fiber-reinforced composites by one hundred percent. In 2020, the team startup closed a $1M Series Seed funding round led by Dipalo Ventures and Clean Energy Trust. The team from Oklahoma State University participated in our E-Team program in 2015 and 2016, ASPIRE in 2017, and OPEN Minds in 2018. VentureWell invested in March 2018.
Preserving perishable foods in some of the world’s most challenging conditions
Operating cold storage spaces for perishable food is challenging and costly in areas with unreliable grid power. Promethean Power Systems designs and manufactures refrigeration systems for cold-storage and milk-chilling applications in off-grid and partially electrified areas of developing countries. To date, the company has sold over 500 units and served over 25,000 farmers in India. The team from the Massachusetts Institute of Technology (MIT) participated in VentureWell’s E-Team program in 2007. VentureWell invested in the company in 2012.
Wireless monitoring system to increase efficiencies and the life of engine parts
Energy and aviation engine operators face costly maintenance issues and downtime because current monitoring practices are unreliable at high temperatures. Sensatek developed a wireless monitoring system that can withstand engines’ high combustion temperatures, providing near-real-time, accurate, and actionable data that can increase efficiencies and the life of engine parts. The team from Embry Riddle University participated in the National Science Foundation I-Corps program in 2017 and 2018, the E-Team program in 2017 and 2018, ASPIRE for CleanTech and Sustainability Startups in 2017, and OPEN Minds in 2018. VentureWell invested in March 2019 in the seed round led by Rhapsody Venture Partners.
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