Stephen Marcus

We’re excited to announce that Pyka has raised $40M in Series B funding to accelerate the commercialization of their autonomous electric aircraft! Led by Obvious Ventures, with support from Piva Capital, Prelude Ventures, Metaplanet, and Y Combinator, this investment will expand Pyka’s impact in sectors like agriculture, cargo transport, and defense logistics. With commercial operations already underway across multiple continents and partners like Dole and Embraer, Pyka is transforming aviation while driving sustainability and decarbonization. ⚡✈️ More here from TechCrunch: https://lnkd.in/gGYfc824

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Who doesn't love chatting about the frontier of Space?! Loved getting this insiders look from Epsilon3 CEO Laura Crabtree (ex-SpaceX, Northrop Grumman) as the industry reshapes into a lightening fast startup ecosystem for us to marvel. Small teams are lowering the cost to access space. Homegrown automation software is dramatically reducing team size -- as Laura puts it: "You won’t see 50 people in a control room for launch…you’ll see 5 controlling 50 different assets and a couple of 100 assets that are mostly operating on their own." Personally i'm keeping a close eye on the new interconnectedness between space and the broader economy will spark a flywheel of innovation. 🎙️ Listen in to our discussion (link in comments) as we release today -- 5YF#16: Space command reimagined, automating mission control, new deep tech hubs, interstellar missions, and the future of space operations w/ Epsilon3 CEO Laura Crabtree To infinity!

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As the critical backer of two of the success stories here, Rocket Lab and Planet, DCVC is delighted to see the heroics of these teams highlighted — and their positive impact on humanity’s security and prosperity. It is also an interesting story of the difficulty markets — private and public — have in filtering out charlatans and hypesters in deeply technical arenas that promise gold rush outcomes, whether it is in space systems (as is the case here), AI (we can all watch it happen), energy and climate tech, biotech, or robotics.

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Friends, Q2 was a quarter of progress and learning for us at HawkTower, where we invest in early-stage startups applying breakthrough computing technologies to maximize California's natural resource markets. Our focus is on technology-enabled interventions (e.g., AI-enabled geospatial radars for lithium-ion batteries in the waste stream) for critical, market-level imperatives (e.g., disaster prevention) that can drive rapid commercial adoption (e.g., placed on every recycling truck in the world). Our current investment priorities are: - Agricultural productivity and efficiency - Biomanufacturing - Labor and mobility automation - Waste stream optimization and decarbonization - Disaster prevention and management Here’s a snapshot of what we’ve been up to: Milestones and Investments: - In late April, we officially launched our fund, filing with the SEC. Yay. - By June, we completed our first fund close ahead of schedule, with backing from family offices, foundations, high-net-worth individuals, and organizations aligned with California's future. - Our portfolio now includes three early-stage investments (Farm-ng, Agriful Software, and Nexstera Tech). Strategic Partnerships: - We believe that startups operating closer to their customers and resources, especially in agriculture and biomanufacturing, have a strategic advantage. For instance, the Salinas Valley, a major agricultural hub, is less than an hour from Silicon Valley and serves as a center of thought leadership in the convergence of agriculture and AI (from Western Growers, Taylor Farms, and others). - Similarly, the North San Joaquin Valley is emerging as a biotech and agtech innovation hub, and we are proud to support BEAM Circular, a startup hub for the circular bioeconomy. Key Relationships: - Karen Warner, CEO of BEAM Circular, joined HawkTower as a strategic advisor. - Jackie Cruz, Ed. D. Cruz, Hartnell College’s VP of Advancement, advises on Salinas Valley and workforce development. - Ben Palone from Western Growers, with his technical background in agriculture, became a trusted advisor. - Matthew Hoffman from Driscoll's Global R&D team provides insights on global agriculture, product positioning, and investment strategy. - We collaborated with Monterey Bay DART for workforce development and automation in agtech. - Dominic Milano and the Milano Technical Group from Merced collaborated on key initiatives and advised us on investments. - HawkTower is participating in Santa Cruz Works's accelerator cohort as a mentor and advisor. Thank you Doug Erickson. - We published an overview of entrepreneurship across the UC system with input from across the University of California system. Moving into the fall, we remain deeply committed to supporting founders shaping California's future natural resource markets. Stay tuned and be in touch! : ) Db

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Must read if you're building in the defense ecosystem. Vannevar Labs is giving new meaning to understanding customer needs by embedding engineers alongside their users, allowing them to quickly iterate and build product directly with warfighters. Scaling the FDE function has been a key unlock to becoming a multi-product defense company and expanding into new missions and customer groups.

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There is so much that is so damn impressive about Nominal's execution. The team identified a truly needed product in the world. More than that... They serve their customers. Sometimes Nominal is saving days of work for an engineer detangling the performance of new hardware in an autonomous fixed wing drone. Other times, helping implement a transformational change for engineering orgs, delivering iteration speed from simulation to range to unlock an RFP goal and contract win. They are building dual use -- powering the best of commercial and public sector teams. Whether a government contractor delivering on a $12b contract. A scaled public company, integrating AI into your roadmap on to your existing HW platform. A startup which is willing a first product into existence. Nominal is there for all the dual use hardware builders who live real time, live in physical world time. The real world runs real time. The real world runs Nominal and so excited to be on the journey. Also, hiring, https://www.nominal.io/, kind of a lot. If you are awesome, they want to talk to you.

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Just finished reading "The Next Giant Leap" by Space Capital - a pioneering VC investing in the emerging Space Economy. The report speaks to how SpaceX’s Starship is more than just the most powerful rocket ever built—it is poised to reshape the global space economy in profound ways. With its immense payload capacity, reusable design, and lower cost per launch, Starship will unlock entirely new industries and transform existing business models. But how should industries and businesses evolve to align with this paradigm shift? 📈 Rethinking Business Strategies & Supply Chains - For businesses, Starship represents an era of mass-production over precision engineering. This means moving away from the focus on mass efficiency toward cost-effective, redundant, and scalable production. - In terms of supply chains, this opens opportunities for new players in manufacturing, materials, and space components. The demand for off-the-shelf parts and non-aerospace suppliers will rise dramatically. 💡 New Use Cases & Opportunities   The opportunities Starship unlocks go beyond launching satellites. - In-space manufacturing of high-value products like pharmaceuticals and advanced materials that cannot be created on Earth. - Mega-constellations of satellites for global broadband, expanding on what Starlink has already begun. - In-orbit assembly and servicing, allowing for larger space structures like telescopes or even habitats to be built in orbit, radically reducing costs. - Lunar infrastructure and resource extraction will become more viable, paving the way for sustainable human presence on the Moon and, eventually, Mars. 📊 What Should Businesses Do Now?   1. Embrace Redundancy & Scale – Instead of focusing on one-off, high-cost solutions, businesses should embrace redundancy and mass production.    2. Simplify Design – With Starship’s payload capacity, there is less pressure to optimize for mass efficiency. Simplified, scalable designs will allow for faster production and iteration cycles, akin to how SpaceX rapidly tests and evolves Starship itself. 3. Develop Strategic Partnerships – Collaborating with forward-thinking space startups, suppliers, and even non-aerospace sectors will be essential to capitalize on the opportunities Starship provides. 🌌 A New Era of Innovation   Starship will democratize access to space, lowering the barriers for businesses to create and scale. The next decade will witness breakthroughs in scientific exploration, energy production, and in-space transportation that we can only begin to imagine today. #SpaceEconomy #Starship #Innovation #SupplyChain #Manufacturing #SpaceTech #Entrepreneurship #FutureOfSpace https://lnkd.in/gNdbwXdq

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I find it hard to believe that with millions of EVs entering the market and the proliferation of AI compute that PGE is actually going to have excess capacity in 2040 without any additional generation from 3rd parties. I am also curious if there are enough transmission lines and if PGE views that as someone else’s problem. Maybe they are planning on AI and ACTUAL figuring it all out! https://lnkd.in/gybsMmaw

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🤖 Robotics: What's new, and why now is the time to pay attention 🤖 The robotics sector is undergoing transformative changes, fuelled by advancements in AI, machine learning, and automation. 🚀 Read the latest MMC Ventures research to learn more. My colleagues Advika Jalan and Alexandra Reinert outline what’s driving the new wave of robotics innovation and why now is the perfect time to engage in the space. 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 🤖 #Automation #Robotics #AI

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ISP Strategic Leadership, Engineering, and Operations As an organization scales, there is often a need to separate strategic technology leadership under the CTO from internal execution under engineering and operations management. This allows the CTO to focus on outward-facing duties while enabling streamlined operational efficiency. However, it's crucial to recognize the differing motivations and needs of these distinct technical roles. On one hand, engineers thrive on tackling interesting, challenging projects that push their abilities and knowledge. They value working alongside capable peers, genuine recognition of technical accomplishments, and contributing to products/services that reach the market. In contrast, operations teams should strive for repeatable processes, continual improvement, and driving efficiency at scale. Their priorities revolve around standardizing workflows, minimizing disruptions, and incrementally optimizing existing systems and procedures to maintain consistent service delivery as the company grows. An effective organizational structure acknowledges this dichotomy, fostering an environment that fuels engineering innovation while providing operations with the stability and process-orientation they require. Striking this balance enables the company to stay agile and innovative through its engineering efforts, while simultaneously scaling operational execution in a reliable and repeatable manner. Competitive compensation remains an important motivator across both domains. By properly aligning structural elements, motivational factors, and leadership priorities, a rapidly growing ISP can position itself to attract and retain top talent across engineering and operations, driving sustainable growth and success in the dynamic technology landscape.

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AST SpaceMobile Stock Surges, Hits $5.6B Market Cap 🛰 Huge news from AST SpaceMobile as share price jumped another 18% yesterday, bringing its year-to-date market gains to a staggering 326%. The company’s market cap now sits at $5.6B, ranking it among the highest-valued space businesses in the world after SpaceX. AST SpaceMobile Stock Surges, Hits $5.6B Market Cap - Payload (payloadspace.com)

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Interesting and innovative company. Proud to be an investor…

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🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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Some more insight into what we are building at Aerodome 📈🚀

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Congrats to Christopher Robson, Kurtis Broda and Kristen Cote at Wyvern on bringing on fantastic new investors Guy Filippelli, Dan Madden and Isaac Carp, CFA at Squadra Ventures. I'm a broken record at this point, but we're in the early innings of the Earth Observation market, and as we're seeing with Wyvern there is more demand for hyperspectral data than supply. As we will see in the coming years, there will be all kinds of problems that can be addressed by understanding our world beyond what our eyes can see. https://lnkd.in/gEzTjYks

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On this week's episode of Lobster Talks, we had the privilege of speaking with Daniel Driscoll, former military officer and co-founder of Elodin (YC W24). Elodin is building the "Unreal Engine for aerospace," a flight software development platform that promises to accelerate innovation and make space exploration more accessible. Key takeaways from our conversation with Dan: -From battlefield to launchpad: Dan's unique journey from serving in Iraq to leading a cutting-edge space tech startup. -The "Unreal Engine" analogy: How Elodin is changing the game for aerospace software development. -Disrupting the status quo: Why agile software practices are essential for the future of space. -Advice for founders: Dan's insights on identifying and solving problems in established industries. This episode is a must-listen! Check out the full episode here: https://lnkd.in/eHp_WWGc #aerospace #softwaredevelopment #startups #innovation #spaceexploration #podcast #lobstertalks

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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🏦 OpenAI showed us what is possible when you apply AI to enterprise workflows on the office floor. 🏭📦 We think AI has the ability to fundamentally transform not just the office floor, but also the factory floor and the warehouse floor. Industrial applications of AI will supercharge productivity and drive efficiency gains while enhancing safety. It is with this thesis that Woven Capital is leading the Series C round for Third Wave Automation which is delivering impressive ROI for warehouses across the U.S. with their autonomous forklifts offering. Nicole LeBlanc, CPA Prashant Kumar Bothra Jarek Khoilian Read the full press release below -

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🚀 Dive into @philstockworld's latest post featuring the inimitable @RoboJohnOliver, who brings a sharp, witty edge to the discussion of AI's transformative power! 💡🤖 #AIRevolution 📈 As we navigate through technical market tests, Robo John reveals how AI can level the playing field, empowering small businesses to compete against giants! A must-read for #SmallBusinessOwners and #AITech enthusiasts. 🌐 Explore how AI tools can optimize operations and deliver strategic insights, previously the domain of big corporations, right into the hands of agile small enterprises. The future is here, and it's evenly distributed thanks to AI! #TechForGood #BusinessTransformation 👀 Don't miss out on this insightful commentary. It's not just a read; it's a call to action for embracing AI to reshape markets and challenge corporate dominance. Be part of the revolution! #Innovation #SmallBizSuccess Read more about how your business can benefit from AI! 🌟🔗 https://lnkd.in/esHbWpth

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