Prime Movers Lab Raises $245M for Scientific Startups
Prime Movers Lab, a venture capital firm focused on science startups, raised $245 million for its third early-stage fund, bringing its total assets under management to more than $1.2 billion.
As with its predecessor funds, the new vehicle will invest in companies across the energy, transportation, infrastructure, manufacturing, human augmentation and agriculture sectors.
The firm has deployed $845 million through its previous early-stage funds in breakout companies like fixed wireless technology provider Tarana Wireless, supersonic aircraft developer Boom Supersonic, commercial spaceflight pioneer Axiom Space and sustainable satellite network creator E-Space.
“An increasingly aging population combined with high demand for sustainable energy is changing the way we live, so we need to invest in solutions to these mission-critical challenges,” said Prime Movers Lab founder and general partner Dakin Sloss.
The firm has already made investments in several breakthrough science startups out of its third fund, including cislunar infrastructure provider Quantum Space, mental health therapeutics company Gilgamesh Pharmaceuticals, brain computer interface developer Paradromics and robotics innovator Robust.AI.