The Engine, the investment initiative founded by MIT in 2016 to focus on tough tech innovations, recently announced an updated total of $200m raised for its first investment fund and its first investments.
Seven Boston area based startups developing breakthrough scientific and technological innovations poised for transformative impact received the funding. These include:
– Analytical Space, which develops systems that provide no-delay, high-speed data from space to address global challenges such as precision agriculture, climate monitoring and city planning;
Founders: Justin Oliveira, Dan Nevius
Industry: Space, InternetofThings
Background: NASA, Planetary Resources, WhiteHouse, HBS
– Baseload Renewables, which develops ultra low-cost energy storage to replace fossil baseload generation with renewable energy to reduce carbon on a global level;
Founders: Yet-Ming Chiang, Ted Wiley, William Woodford, Marco Ferrara
Background: DMSE MIT, 24M Technologies, A123
– C2Sense, building a digital olfactory sensor for industrial use cases such as food, agriculture and worker safety, and transforming smell into real-time data that can be accessed remotely.
Founders: Jan Schnorr, Tim Swager, Eric Keller
Industry: Advanced Materials, Internet of Things
Background: The Swager, Lab MIT
– iSee, which delivers humanistic artificial intelligence technology for human and robotic collaborations, including autonomous vehicles.
Founders: Yibiao Zhao, Debbie Yu, Chris Baker
Industry: Deepsoftware, AI
Background: MIT Computational & Cognitive Science Group
– Kytopen, which accelerates the development of genetically engineered cells by developing technology that modifies microorganisms 10,000 fast.
Founders: Cullen Buie, Paulo Garcia
Industry: Life Science, Advanced Manufacturing
– Suono Bio, which enables ultrasonic targeted delivery of therapeutics and macromolecules across tissues without the need for reformulation or encapsulation.
Founders:Carl Schoellhammer, Robert Langer, Amy Schulman, Gio Traverso
Background: LangerLab MIT
– Via Separations, which develops a materials technology for industrial separation processes that uses 10 times less energy than traditional methods.
Founders: Shreya Dave, Brent Keller, Jeff Grossman, Karen Golmer
Industry: Energy, Advanced Materials, Advanced Manufacturing
Background: The Grossman Group, MIT
Led by Katie Rae, CEO and Managing Partner, The Engine aims to bridge the gap between discovery and commercialization by enabling startups to develop “tough” tech — breakthrough ideas that require time to commercialize — with the long-term capital, entrepreneurial knowledge, connections, specialized equipment and labs. The Engine provides a combination of long-term investment, resources, and services.