Where is Elemental's headquarters located?

Elemental's headquarters is located in Honolulu (United States).

How big is Elemental's investment team?

Elemental has a team of 45, including 16 partners.

How many companies has Elemental invested in?

Elemental has invested in 150 companies, including Proterra & Enel X.

Which companies has Elemental invested in lately?

Applied Carbon & Fervo Energy are the latest investments by Elemental.

How many exits has Elemental been involved in?

Elemental's portfolio has seen 4 IPOs and 27 acquisitions.

Elemental - 2026 Investor Profile, Portfolio, Team & Investment Trends

Elemental, an accelerator and incubator program founded in 2012, is based in Honolulu, United States. With a presence in 13 countries, it has supported around 150 startups in sectors like Environment Tech, Enterprise Applications. As of Aug 2026, Elemental has witnessed 31 portfolio exits. Most notable companies in its portfolio include Proterra, Enel X and SmartRecruiters. The program is backed by a team of 45 people who primarily support Series A startups based in United States. Its latest investment was a $21.5M Series A round in Applied Carbon on Jul 31, 2024, which also saw participation from TO VC and Congruent Ventures.

Key Metrics

Founded Year

2012

Location

Honolulu, United States

Portfolio Companies

Proterra, Enel X & 148 more

Sectors of Investment

Environment Tech, Enterprise Applications & 26 more

Stages of Investment

Series A, Seed & 5 more

Locations of Investment

United States, United Kingdom & 11 more

View Elemental's full profile

Elemental has a portfolio of 150 companies. Their most notable investments are in DigitalPaani and DigitalPaani.Their portfolio spans across United States, United Kingdom, Canada and 10 more locations. They have invested in Environment Tech, Enterprise Applications, High Tech and 25 other sectors, across stages such as Series A, Seed and 5 more. Here is the list of top investments by Elemental:

1. Proterra

Manufacturer of battery systems for electric vehicles and commercial equipment. The company provides battery solutions for heavy-duty trucks, commercial transit, school buses, and off-highway equipment. Batteries are designed with safety features, durable enclosures, and scalable platforms. The company offers engineering expertise, vehicle integration, and servicing for original equipment manufacturers.

Key facts about Proterra

Founded Year: 2004
Location: Burlingame (United States)
Annual Revenue: $100M - $500M as on Dec 31, 2022
Stage: Public
Total Funding till date: $858M
Employee Count: 426 as on Jul 31, 2026
Investors: Section Partners, Generation Investment Management and 38 Others
Latest Funding Round: Series H, Oct 15, 2020, $*****
Highlight: Public

2. Enel X

Key facts about Enel X

Founded Year: 2001
Location: Boston (United States)
Stage: Acquired
Total Funding till date: $168M
Employee Count: 2,455 as on May 31, 2026
Investors: Foundation Capital, Glen Capital and 9 Others
Latest Funding Round: Grant (prize money), Jan 01, 2021, $*****
Highlight: Acquired

3. SmartRecruiters

Cloud-based ATS and Hiring Platform. It delivers built-in social referrals, a mobile-centric user interface, candidate pipeline, analytics, etc. The services include candidate assessment, offer management, candidate sourcing, recruitment marketing, and more.

Key facts about SmartRecruiters

Founded Year: 2010
Location: San Francisco (United States)
Last Known Valuation: $*****
Stage: Acquired
Total Funding till date: $225M
Investors: SLW, Saints Capital and 13 Others
Latest Funding Round: Series E, Jul 20, 2021, $*****
Highlight: Acquired

4. SPAN

Smart energy management technology platform that modernizes residential electrical systems. Its solutions replace traditional electrical panels with smart systems that provide homeowners with real-time visibility into household energy usage, circuit-level monitoring, and remote control of appliances and connected devices. It is designed to support modern electrified homes by integrating technologies such as home batteries, electric vehicle chargers, solar systems, HVAC systems, and heat pumps into a centralized energy management ecosystem.

Key facts about SPAN

Founded Year: 2014
Location: San Francisco (United States)
Stage: Series C
Total Funding till date: $419M
Employee Count: 399 as on Jul 31, 2026
Investors: Qualcomm Ventures, Amazon and 33 Others
Latest Funding Round: Series C, Jan 15, 2026, $*****
Highlight: Editors' Pick

5. Solstice

Community solar provider unlocking clean energy access and savings for all. This organization focuses on expanding access to solar energy through community solar gardens, enabling individuals and businesses to benefit from solar power without needing to install panels on their property. They connect subscribers to local solar projects, providing credits on their electricity bills based on the solar garden's production. This model promotes affordable, accessible, and responsible energy consumption, supporting a cleaner and more equitable energy grid. They offer a platform for individuals, households, developers, and businesses to participate in the clean energy transition, fostering a community-driven approach to sustainability. The organization emphasizes ease of enrollment, cost savings, and environmental impact, making solar energy accessible to a broader audience. They provide customer support, educational resources, and partnership opportunities to further their mission of equitable access to clean energy.

Key facts about Solstice

Founded Year: 2016
Location: Boston (United States)
Stage: Acquired
Total Funding till date: $7.44M
Employee Count: 34 as on Jul 31, 2026
Investors: SE Ventures, Elemental and 24 Others
Latest Funding Round: Seed, Jan 15, 2021, $*****
Highlight: Acquired

View the full list of portfolio companies

Elemental has invested in 150 companies over the last 12 years, with an average of 3 new investments annually in the last 10 years. Its most recent first time investment was in Applied Carbon and most recent follow-on round was in Fervo Energy.

Here are Elemental's Year-on-Year Investment Trends:

Year	No. of Investments
Year	1^st Round	Follow-on	Total
2026 (YTD)	0	0	0
2025	0	0	0
2024	2	1	3
2023	4	2	6
2022	8	2	10
2021	2	0	2
2020	1	0	1
2019	5	1	6
2018	6	0	6
2017	4	0	4

View all investments by Elemental

Elemental has made 15 investments in Series A stage with an average round size of $9.5M, 12 investments in Seed stage with an average round size of $3.96M and 5 investments in Grant (prize money) stage with an average round size of $3.5M.

Here are Elemental's investments by stage:

Stage of entry	No. of Investments
Series A	15
Seed	12
Grant (prize money)	5
Series B	4
Angel	1
Others	2

Note: We have considered here, only first round of investments

View all investments by Elemental

Elemental has a diverse portfolio, with companies operating in the Sustainability Tech, Environment Tech, Energy Tech, High Tech and Enterprise Applications. Notably, it has invested in 130 Tech companies, 128 Enterprise (B2B) companies, 70 Software companies and at least 46 companies focusing on Tech hardware.

Here are Elemental's investments by sector:

Sector	No. of Investments
Sustainability Tech	26
Environment Tech	23
Energy Tech	18
High Tech	17
Enterprise Applications	15
Others	72

Note: We have considered here, only first round of investments

View all investments by Elemental

Elemental has made most investments in United States (32), followed by Australia where it has made 2 investments.

Here are Elemental's investments by geography:

Country	No. of Investments
United States	32
Australia	2
Canada	1
India	1
Italy	1
Others	2

Note: We have considered here, only first round of investments

View all investments by Elemental

Elemental has not made any investment in 2026 so far.

Here are the most recent investments by Elemental:

Filter this list

Date	Company	Location	Round Details	Round Amount	Co-Investors
Jul 31, 2024	Applied Carbon	United States	Series A	3390	TO VC [+11]
Feb 07, 2024	Fervo Energy	United States	Series D	3121	Devon Energy [+11]
Jan 24, 2024	C16 Biosciences	United States	Grant (prize money)	9512	Gates
Sep 11, 2023	Dimensional Energy	United States	Series A	6286	Envisioning Partners [+10]
Aug 30, 2023	Allume Energy	Australia	Series A	6214	The Schmidt Family Foundation

See more recent investments made by Elemental

4 of Elemental's portfolio companies have become public. Fervo Energy got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in May 2026 at marketcap of $7.45B and Xos got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $4.17M.

Here are Elemental's portfolio companies that went public:

Filter this list

Company	IPO Date	First Invested on	First Round of Investment	Round Size
Fervo Energy	May 13, 2026	Mar 18, 2021	Series B	4932
Xos	Aug 20, 2021	-	-	7437
Proterra	Nov 27, 2020	-	-	9444
Stem	Oct 09, 2020	-	-	9558

View more details about public companies in Elemental's portfolio

27 companies from Elemental's portfolio have been acquired. The most recent acquisition was Nuventura in Apr 2026 by Lucy Group for $*****.

Here are Elemental's portfolio companies that got acquired most recently:

Filter this list

Company	Acquisition Date	First Invested on	First Round of Investment	Round Size
Nuventura	Apr 06, 2026	-	-	7592
kWh Analyt	Mar 10, 2026	Sep 16, 2014	Seed	8617
Solstice	Feb 19, 2026	Sep 25, 2018	Seed	4118
Shifted Energy	Oct 09, 2025	-	-	7129
SmartRecruiters	Aug 01, 2025	-	-	9446

View all acquired companies in Elemental's portfolio

Elemental has a team of 45 members including 16 Partners, 1 Venture Partner and 17 Principals located in United States. Elemental's team does not sit on the board of any company as of now.

Here is a list of top team members in Elemental:

Name	Designation	Location	Board Memberships	Contact Details
Naveen Sikka	Partner	-	-	2 Emails
Laurene Powell Jobs	Partner	United States	-	3 Emails
Cheryl Martin	Partner	Boston	-	1 Email
Vivian Yasunaga	Partner	Honolulu	-	1 Email
Amanda Denney	Partner	San Francisco	-	1 Email
Anna Menke	Partner	San Diego	-	1 Email
Avra van der Zee	Partner	New York	-	2 Emails
Christina Angelides	Partner	Los Angeles	-	1 Email
Daniella Henry	Partner	New York City	-	1 Email
Lauren Tonokawa	Partner	Honolulu	-	1 Email
Melissa Rouse	Partner	San Francisco	-	1 Email

View team details of Elemental

Over the past 12 years, 371 investors have co-invested in Elemental's portfolio companies. This includes funds and angels.

Invested before Elemental: National Science Foundation, OSTI and 111 others have invested in rounds before Elemental. There are 4 companies where National Science Foundation has invested before Elemental and 3 companies where OSTI has invested before Elemental.
Top Co-investors of Elemental: 72 investors entered a company along with Elemental. These include investors like Grantham Foundation (3 companies).
Invested after Elemental: A total of 186 investors have invested in Elemental's portfolio after their investments. Top Investors include OSTI (4 companies) and Climate Capital (3 companies).