Lemnos has been investing in great hardware startups for over seven years. When we started our firm, we focused on companies located in or willing to relocate to the Bay Area, San Francisco more precisely. This was driven by our desire to work every day with our portfolio companies and to provide timely assistance for their issues and opportunities. Lemnos also needed to validate, improve, and codify our tools and processes so each new Lemnos family member could more quickly absorb the enormous amount of information hardware founders need to know in their company’s earliest stages.
This geographic focus helped us in our early years, but we also saw strong demand from startups that wanted to be in the Lemnos family but couldn’t transition to San Francisco. So we started our geographic expansion the easiest way possible, supporting companies all over the Bay Area. We now have Lemnos portfolio companies covering the greater Bay Area, from Gilroy to San Jose, Oakland to San Carlos.
A few years ago, we opened our geographic aperture, starting with a company still in stealth mode in Los Angeles. Last year, we welcomed Helm to the family and started making regular trips to Seattle. Scythe Robotics worked out of Lemnos for six months but recently returned to their hometown of Boulder, Colorado to continue their voyage. We’re excited to visit Boulder even more often, as one of our LPs, Foundry Next, is also based there and we’ve enjoyed a great relationship with TechStars over the years.
If you think of the past and future of manufacturing, you have to think of the Midwest. Asking a company working on the future of manufacturing to come to the Bay Area is silly. Their customers and their industry’s future are firmly rooted in the Midwest, South, and Eastern seaboard, and we’ll be there with them. That’s why we are so excited that one of our most recent investments, a robotics startup, is based in Cleveland, Ohio. We have another investment closing soon on the East Coast, so we’re truly embracing the entire United States.
I’ve always said that Lemnos had to get good at our home game before we were ready to go on the road. Now we are more than ready, we are hungry to expand. Great full-stack startups focusing on sensing and/or actuating the physical world are distributed all over the United States, and we’re excited to work with you whether you call San Francisco, Denver, Detroit, Houston, or New York City your home base. Start your company in the place where you can be closest to your customers and potential employees, and Lemnos will be there at your side.