About Engine
Engine is a venture capital firm founded in 2016. It is primarily based out of Cambridge, United States. As of Apr 2025, Engine has invested in 20 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Environment Tech. Most recently it participated in the $***** Series B round of Rise Robotics Overall, Engine portfolio has seen 1 unicorn and 2 acquisitions, namely Form Energy, Celestial AI and Osmose Utilities Services. A lot of funds co-invest with Engine, with names like Prelude Ventures sharing a substantial percentage of its portfolio. Engine has team of 24 people including 11 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 2 more
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Engine's List of Top Investments
Engine has a portfolio of 20 companies, one of which is a Unicorn. Their most notable investments are in E25Bio and Amide Technologies.Their portfolio spans across United States and France. They have invested in High Tech, Enterprise Applications, Environment Tech and 12 other sectors, across stages such as Series A, Seed and 2 more. Here is the list of top investments by Engine:_1531912477249.png?format=webp&height=120&width=120){kind=logo}
1. Form Energy
Clean energy technology platform developing long-duration iron-air battery systems. It develops advanced battery solutions capable of storing electricity for multiple days, helping balance energy supply and demand during periods of high stress or renewable energy intermittency. It is designed to support the transition to a cleaner and more resilient electric grid by enabling greater integration of renewable energy sources such as wind and solar. Its technology centers on cost-effective, scalable battery systems built for long-duration storage applications, addressing critical gaps in traditional short-duration energy storage solutions.
Key facts about Form Energy
- Founded Year: 2017
- Location: Somerville (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $2B
- Employee Count: 886 as on Aug 31, 2026
- Investors: T. Rowe Price, GIC and 45 Others
- Latest Funding Round: Conventional Debt, Sep 21, 2026, $*****
- Highlight: Editors' Pick
2. Celestial AI
Developer of optical interconnect technology for artificial intelligence infrastructure systems. The company’s technology aims to improve artificial intelligence system performance through optical interconnectivity. It focuses on enabling efficient scaling of artificial intelligence to advance progress in various fields. The company’s platform is designed for integration into next-generation artificial intelligence systems.
Key facts about Celestial AI
- Founded Year: 2020
- Location: Santa Clara (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $589M
- Employee Count: 68 as on May 31, 2026
- Investors: Fidelity Investments, Samsung Catalyst Fund and 21 Others
- Latest Funding Round: Series C, Feb 25, 2025, $*****
- Highlight: Acquired
3. Vaxess
Developer of novel vaccine formulations using a silk stabilization platform. Technology includes extracting fibroin from silk in which biological compounds are encapsulated to provide heat stability. It is also developing product formats that enable novel routes of administration like microneedles for transdermal applications. It has developed MIMIX therapies that help in treating cancers such as skin cancers, breast cancer, and infectious diseases.
Key facts about Vaxess
- Founded Year: 2011
- Location: Cambridge (United States)
- Stage: Series D
- Total Funding till date: $117M
- Employee Count: 72 as on Mar 31, 2026
- Investors: RA Capital Management, Gates and 16 Others
- Latest Funding Round: Series D, Aug 27, 2025, $*****
- Highlight: Editors' Pick
Provider of utility infrastructure inspection and life extension services. These services encompass assessment and remediation for wood, steel, and concrete structures, including poles, substations, and underground assets. They offer solutions for enhancing the resiliency of transmission and distribution networks, employing technologies such as drone inspection and predictive modeling. Services also include engineering and design for upgrades and restoration, as well as storm response support. The company provides a range of products to support these services, including remedial treatments and protective coatings.
Key facts about Osmose Utilities Services
- Founded Year: 1934
- Location: Atlanta (United States)
- Stage: Acquired
- Total Funding till date: $3M
- Employee Count: 2,768 as on Aug 31, 2026
- Investors: Ares Capital Corporation, Orbia and 5 Others
- Latest Funding Round: Grant (prize money), Sep 25, 2025, $*****
- Highlight: Acquired
Developer of Beltdraulic technology for efficient linear actuation and industrial machine applications. It specializes in creating alternatives to traditional hydraulic systems, focusing on efficiency and sustainability. Its technology is compatible with various power sources, including diesel, electric, and hydrogen, optimizing performance for both electric rotary drive and linear actuation. The company offers tailored, collaborative solutions designed to meet requirements traditionally necessitating hydraulic systems.
Key facts about Rise Robotics
- Founded Year: 2012
- Location: Boston (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $26.3M
- Employee Count: 20 as on Oct 24, 2025
- Investors: Project 11 Ventures, MassVentures and 11 Others
- Latest Funding Round: Grant (prize money), Sep 01, 2026, $*****
- Highlight: Editors' Pick
Engine's Year-on-Year Investment Trends
Engine has invested in 20 companies over the last 9 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Seaspire Skincare and most recent follow-on round was in Rise Robotics.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 1 | 1 |
2024 | 0 | 0 | 0 |
2023 | 0 | 4 | 4 |
2022 | 3 | 5 | 8 |
2021 | 4 | 5 | 9 |
2020 | 4 | 1 | 5 |
2019 | 4 | 0 | 4 |
2018 | 0 | 0 | 0 |
2017 | 1 | 0 | 1 |
Engine's Investments by Stage
Engine has made 9 investments in Series A stage with an average round size of $17.6M, 4 investments in Seed stage with an average round size of $4.13M, 2 investments in Series B stage with an average round size of $39M and 1 investment in Unattributed stage with an average round size of $3M.Stage of entry | No. of Investments |
|---|---|
Series A | 9 |
Seed | 4 |
Series B | 2 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Engine's Investments by Sector
Engine has a diverse portfolio, with companies operating in the High Tech, Energy, Life Sciences, Sustainability Tech and Energy Tech. Notably, it has invested in 16 Enterprise (B2B) companies, 14 Tech companies, 6 Software companies and at least 5 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
High Tech | 4 |
Energy | 3 |
Life Sciences | 3 |
Sustainability Tech | 3 |
Energy Tech | 2 |
Others | 12 |
Note: We have considered here, only first round of investments
Engine's Investments by Geography
Engine has made most investments in United States (16).Engine's recent investments
Engine has not made any investment in 2026 so far.Here are the most recent investments by Engine:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 24, 2025 | United States | Series B | 1868 | [+3] | |
Jul 30, 2023 | United States | Series A | 3122 | [+4] | |
Jul 21, 2023 | United States | Series C | 4092 | ||
Jul 2023 | United States | Series A | 7517 | - | |
Jun 28, 2023 | United States | Series B | 1092 | [+8] |
Unicorns in Engine's Portfolio
Engine has 1 unicorn in its portfolio - Form Energy. The most recent unicorn in their portfolio is Form Energy which became a unicorn in 2022, 3 years after Engine first invested in it.Here is a list of unicorns in Engine's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Clean energy technology platform developing long-duration iron-air battery systems | 2017 | Somerville | Series G | izqvvnh |
Acquired companies in Engine's Portfolio
2 companies from Engine's portfolio have been acquired. The most recent acquisition was Celestial AI in Dec 2025 by Marvell for $*****.Here are Engine's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 02, 2025 | Dec 15, 2021 | Series A | 7927 | |
Jan 24, 2019 | Nov 04, 2021 | Unattributed | 7191 |
Team profile of Engine
Engine has a team of 24 members including 11 Partners, 1 Venture Partner and 4 Principals located in United States. Engine's team sits on the board of 1 company.Here is a list of top team members in Engine:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Lexington | |||
Partner | Boston | - | - | |
Partner | Cleveland | - | - | |
Partner | Boston | - | - | |
Partner | Boston | - | ||
Partner | United States | - | ||
Partner | Boston | - | - | |
Partner | - | - | - | |
Partner | Aspen | - | - | |
Partner | Cambridge | - | - | |
Partner | Cambridge | - | - |
Co-investors of Engine
Over the past 9 years, 193 investors have co-invested in Engine's portfolio companies. This includes funds and angels.
- Invested before Engine: America’s Seed Fund, HHS and 32 others have invested in rounds before Engine. There are 3 companies where America’s Seed Fund has invested before Engine and 3 companies where HHS has invested before Engine.
- Top Co-investors of Engine: 47 investors entered a company along with Engine. These include investors like Prelude Ventures (3 companies).
- Invested after Engine: A total of 112 investors have invested in Engine's portfolio after their investments. Top Investors include Engine Ventures (4 companies), Temasek (2 companies) and T. Rowe Price (2 companies).
Recent News related to Engine
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Adani, Jabil plan AI data centre hardware manufacturing platform in IndiaBusiness Line•Jun 15, 2026•Jabil, Adani Group, Adani Enterprises, AdaniConneX and 13 others
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Engine Capital takes stake in Avantor,advocates operational improvementsCNBC•Aug 16, 2025•Avantor, Engine
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Activist investor Engine Capital ends campaign at Lyft, withdraws board nomineesThe Star Online•May 10, 2025•Engine
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Celestial AI raises $250 million to speed up connections between AI chips and transform AI InfrastructureTechStartups.com•Mar 11, 2025•Celestial AI, Fidelity Investments, Blackrock Neurotech, Maverick Capital and 15 others
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Form Energy bags funds to expand, enters partnership with GE ...Renewables Now•Oct 11, 2024•Form Energy, GE Vernova, The Rise Fund, Breakthrough Energy and 10 others
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Vinyard offshore's $3 million investment to propel Massachusetts as a climate innovation hub4C Offshore•Jul 11, 2024•Vineyard Offshore, Engine, Sublime Systems, VEIR
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Waymaker Group Announces Collaboration with The National Science Foundation and MIT's The EnginePR Newswire•Apr 16, 2024•Waymaker Group, Engine, National Science Foundation
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