The Engine

Founded 2016

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 25
Average round size
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The average size of a deal this fund participated in
$8M
Portfolio companies 30
Rounds per year 5.00
Lead investments 3
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.12
Key employees 2
Stages of investment
Early Stage Venture
Seed

Areas of investment

  • Biotechnology
  • Manufacturing
  • CleanTech
  • Software
  • Health Care
Summary

In 2016 was created The Engine, which is appeared as Corporate Investor. The venture was found in North America in United States. The main office of represented Corporate Investor is situated in the Cambridge.

Speaking about the real fund results, this Corporate Investor is 21 percentage points more often commits exit comparing to other organizations. The fund is generally included in 7-12 deals every year. The important activity for fund was in 2019. The usual things for fund are deals in the range of 10 - 50 millions dollars.

The usual cause for the fund is to invest in rounds with 3-4 partakers. Despite the The Engine, startups are often financed by National Science Foundation, MassChallenge, Breakout Labs. The meaningful sponsors for the fund in investment in the same round are Prelude Ventures, LLC, Breakthrough Energy Ventures, Hyperplane Venture Capital. In the next rounds fund is usually obtained by Prelude Ventures, LLC, PRIME Impact Fund, OGCI Climate Investments.

Among the most popular portfolio startups of the fund, we may highlight Commonwealth Fusion, ISEE, C2Sense. We can highlight the next thriving fund investment areas, such as Medical Device, Food Processing. The fund has no specific favorite in a number of founders of portfolio startups. In case when startup counts 4 of the founder, the chance for it to get the investment is meager. For fund there is a match between the location of its establishment and the land of its numerous investments - United States. Besides, a startup requires to be at the age of 2-3 years to receive the investment from the fund.

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Typical Co-investors
The Engine is more likely to invest in rounds together with the following funds:
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These funds have a tendency to invest in the following rounds after The Engine:

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Notable deals

CompanyIndustryRoundRound SizeDateInvestorsLocation

Emvolon

Chemical
Industrial
Waste Management
1
$1M03 May 2021 Boston Massachusetts United States

VEIR

Electrical Distribution
Power Grid
Solar
1
$11M04 Mar 2021 Boston Massachusetts United States

Biotechnology
Nanotechnology
Product Design
1
$16M01 Feb 2021 Cambridge Massachusetts United States

Inorganic Intelligence

Artificial Intelligence
Machine Learning
Software
1
$2M05 Jan 2021 California San Jose United States

The Routing Company

Artificial Intelligence
Automotive
Software
1
$5M15 Dec 2020 Boston Massachusetts United States

Architecture
Civil Engineering
Construction
1
$4M22 Oct 2020 Cambridge Massachusetts United States

Rise Robotics

Manufacturing
Robotics
Wearables
n/a
$3M12 Apr 2020 Massachusetts United States

Lilac Solutions

Advanced Materials
Chemical
Energy Storage
Natural Resources
1
$20M20 Feb 2020 Rhode Island United States

Seaspire Skincare

1
01 Jan 2020 Boston Massachusetts United States
News
Via Separations Raises Oversubscribed $38 Million Series B Led by NGP ETP to Transform Industrial Energy Use

– Via Separations, a rapidly-scaling technology company that enables industrial decarbonization, announced a $38m investment, led by NGP ETP, a growth equity investor focused on opportunities in the global transition toward a lower carbon economy.
2040 Foundation also participated in the round, alongside existing investors, including: The Engine, Safar Partners, Prime Impact Fund, Embark Ventures and Massachusetts Clean Energy Center.
– The new capital will be used to drive deployment in the pulp and paper sector and accelerate platform expansion to reduce energy usage throughout chemical production.
– Via has begun deploying its platform to slash energy use and propel enhanced production in the pulp and paper sector with its sights set on broadly applicable industrial manufacturing.
– The company is electrifying industrial processes by replacing inefficient thermal separations with filtration-based systems.

Lilac Solutions Announces $150 Million Series B to Scale Lithium Supply for the Electric Vehicle Era

– Lilac Solutions announced a $150m Series B financing round led by Lowercarbon Capital and funds and accounts advised by T. Rowe Price Associates.
– The round was also joined by Mercuria Energy Trading and Valor Equity Partners; existing investors Breakthrough Energy Ventures and The Engine also participated in the round.
– Lilac has developed a new ion exchange technology to increase production of lithium from brine resources.
– Lilac will use the new funds to ramp production of the company’s unique ion exchange beads, expand its teams of engineers and field operators, and deploy the technology globally.
– Most of the world’s lithium is contained in brine resources – naturally occurring deposits of salt water. These brines are abundant, but resource developers have struggled to bring projects into production due to a lack of cost-effective technology.

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