We’re excited to announce that we’ve raised our third, $50 million fund to support early-stage hardware and the growing software ecosystem surrounding the hardware renaissance.
Now is an exhilarating time to be in hardware –and we are leading the charge by helping companies bring breakthrough solutions that solve real-world problems to market. A great example is our portfolio company, Spire, who are deploying a constellation of small satellites to collect proprietary, global information. They recently landed a deal to provide critical weather data to the National Oceanic and Atmospheric Administration.
In the six years since we started Lemnos, it’s become clear to us that solving complex problems like the ones Spire tackles requires strong financial and human resources. Great founders, experienced functional leaders, and a well-balanced team forge the best path to success. With our third fund, we’re going to provide more time, resources, and capital for each new portfolio company instead of increasing the number of companies we fund.
Lemnos, by design, is not a traditional VC fund, nor are we an accelerator. We make fewer, smarter bets. We get our hands dirty. We drive entrepreneurs to be their best. Part investors, part educators, part inventors, but most importantly full-time consiglieri, we provide startups with the tools, expertise, experience, and connections they need to build disruptive solutions that change markets.
When we started Lemnos in 2011, many were skeptical that hardware startups could reach scale on a venture timeline. Since then, the hardware renaissance has become a reality and our startups are changing the world. With our third fund, we look forward to expanding our ability to help startups scale and succeed. If you are one of those startups, we look forward to hearing from you!
Jeremy, Helen, and Eric