About Karman
Karman is a venture capital firm founded in 2018. It is primarily based out of Santa Monica, United States. As of Oct 2026, Karman is an active investor, having invested in 81 companies, with 9 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Seed round of Photon Overall, Karman portfolio has seen 6 unicorns, 2 IPOs and 8 acquisitions including key companies like Lime, Omio and Superhuman. A lot of funds co-invest with Karman, with names like FJ Labs sharing a substantial percentage of its portfolio. Karman has team of 5 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Karman's List of Top Investments
Karman has a portfolio of 81 companies, including 6 unicorns. Their most notable investments are in klikit and Vested Finance.Their portfolio spans across United States, India, Mexico and 10 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 26 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Karman:1. Lime
App-based rental platform providing self-drive electric kick-scooter. The platform enables users to find the nearest available scooter and start the ride by scanning their QR code or access code. Users should provide rider details, payment details, location, and more for book the scooter. It offers features like variant payment options, and more. At the end of the ride, users can park the vehicle at their legal locations. Their mobile app is available for Android and iOS devices
Key facts about Lime
- Founded Year: 2017
- Location: San Francisco (United States)
- Stage: Public
- Total Funding till date: $1.4B
- Employee Count: 2,798 as on Aug 31, 2026
- Investors: Meritech, Star Tech NG and 99 Others
- Latest Funding Round: Conventional Debt, Nov 04, 2021, $*****
- Highlight: Public
2. Omio
App-based platform for booking transport services. Users can search & compare different train, bus, and flight routes available between the two destinations & book train, bus & flight tickets (including that of public transport) from multiple partner operators after providing relevant details. Also provides information on accommodation booking. Its mobile app is available for iOS and Android devices.
Key facts about Omio
- Founded Year: 2013
- Location: Berlin (Germany)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $486M
- Employee Count: 439 as on Sep 30, 2026
- Investors: Silver Lake, Star Tech NG and 39 Others
- Latest Funding Round: Series E, Jul 22, 2026, $*****
- Highlight: Editors' Pick
Online trading and investment platform. The platform facilitates access to various investment options, including stocks, exchange-traded funds, and alternative assets. It offers tools for portfolio construction, analysis, and management. The platform also provides educational resources and customer support to assist investors.
Key facts about Vested Finance
- Founded Year: 2015
- Location: El Segundo (United States)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $25.8M
- Employee Count: 69 as on Jun 30, 2025
- Investors: Star Tech NG, Aeroflex Enterprises and 150 Others
- Latest Funding Round: Series A, Jul 02, 2025, $*****
- Highlight: Editors' Pick
4. Superhuman
Provider of an AI-powered email scheduling app. It offers a browser extension that enables users to start up, search and send mail. It has undone send features, artificial intelligence to detect and highlight important emails, read status, mail scheduling and follow up.
Key facts about Superhuman
- Founded Year: 2014
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $118M
- Employee Count: 166 as on Sep 30, 2026
- Investors: HT Ventures, Hone Capital and 46 Others
- Latest Funding Round: Series C, 2024, $*****
- Highlight: Acquired
5. Voyager
App-based trading platform for cryptocurrency. It allows users to buy and sell cryptocurrencies from multiple exchanges with USD from the bank account. It supports Bitcoin, DeFi coins, stablecoins, and a variety of altcoins. It also offers an order router for monitoring the crypto market. The app is available on both Android and iOS devices.
Key facts about Voyager
- Founded Year: 2017
- Location: New York City (United States)
- Stage: Public
- Employee Count: 208 as on Aug 31, 2026
- Investors: EDBI, Alpha Sigma Capital and 19 Others
- Latest Funding Round: Post IPO, May 16, 2022, $*****
- Highlight: Public
Karman's Year-on-Year Investment Trends
Karman has invested in 81 companies over the last 8 years, with an average of 11 new investments annually in the last 5 years. In 2025, it made 14 investments, while as of Oct 2026, it has made 6 investments in this year. Its most recent first time investment was in Photon and most recent follow-on round was in Bluecore Energy.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 5 | 1 | 6 |
2025 | 14 | 0 | 14 |
2024 | 9 | 1 | 10 |
2023 | 3 | 1 | 4 |
2022 | 18 | 3 | 21 |
2021 | 10 | 1 | 11 |
2020 | 3 | 1 | 4 |
2019 | 3 | 0 | 3 |
2018 | 1 | 0 | 1 |
Karman's Investments by Stage
Karman has made 37 investments in Seed stage with an average round size of $6.15M, 23 investments in Series A stage with an average round size of $18.2M, 3 investments in Series B stage with an average round size of $113M and 3 investments in Series C stage with an average round size of $51.7M.Stage of entry | No. of Investments |
|---|---|
Seed | 37 |
Series A | 23 |
Series B | 3 |
Series C | 3 |
Note: We have considered here, only first round of investments
Karman's Investments by Sector
Karman has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, High Tech, FinTech and Transportation and Logistics Tech. Notably, it has invested in 71 Tech companies, 47 Enterprise (B2B) companies, 42 Software companies and at least 30 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 30 |
Consumer | 14 |
High Tech | 13 |
FinTech | 10 |
Transportation and Logistics Tech | 8 |
Others | 86 |
Note: We have considered here, only first round of investments
Karman's Investments by Geography
Karman has made most investments in United States (45), followed by India where it has made 5 investments.Country | No. of Investments |
|---|---|
United States | 45 |
India | 5 |
Mexico | 4 |
France | 2 |
Singapore | 2 |
Others | 9 |
Note: We have considered here, only first round of investments
Karman's recent investments
Karman has made 6 investments in 2026 so far. Photon and Bluecore Energy are the latest among them.Here are the most recent investments by Karman:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 01, 2026 | United States | Seed | 9727 | [+4] | |
Sep 08, 2026 | United States | Seed | 5490 | [+16] | |
Sep 01, 2026 | United States | Seed | 6658 | [+3] | |
Jul 30, 2026 | United States | Series A | 5293 | [+8] | |
Jul 21, 2026 | United States | Seed | 8426 | [+11] |
Unicorns in Karman's Portfolio
Karman has 6 unicorns in its portfolio - Unit, Angel List, JOKR and others. The most recent unicorn in their portfolio is Unit. It became a unicorn in 2022.Here is a list of unicorns in Karman's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
55 | Open banking API solution | 2019 | Tel Aviv | Series C | oiogruj | ||
71 | Provider of fund management software and services for venture capital | 2010 | San Francisco | Series B | levfqkd | ||
53 | Online platform offering multi-category grocery products | 2021 | Luxembourg | Series D | dgyqj{a | ||
61 | Provider of an online pharmacy for delivering medicines | 2015 | New York City | Series D | uzutsfa | ||
57 | Platform offering AI-enabled automated checkout software solutions for offline retailers | 2017 | San Francisco | Series C | ddfuaez |
IPOs and Publicly Listed companies in Karman's Portfolio
2 of Karman's portfolio companies have become public. Lime got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jul 2026 at marketcap of $1.6B and Voyager got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V).Here are Karman's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 01, 2026 | - | - | 9332 | |
Feb 11, 2019 | - | - | 5853 |
Acquired companies in Karman's Portfolio
8 companies from Karman's portfolio have been acquired. The most recent acquisition was Teamraderie in Apr 2026 by ExecOnline for $*****.Here are Karman's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 15, 2026 | Nov 08, 2022 | Series A | 5380 | |
Jul 01, 2025 | - | - | 9000 | |
Mar 11, 2025 | Feb 26, 2020 | Series A | 9144 | |
Oct 16, 2024 | May 30, 2024 | Series A | 2510 | |
Apr 19, 2023 | - | - | 4613 |
Team profile of Karman
Karman has a team of 5 members including 3 Partners, 1 Venture Partner and 1 Principal located in United States and United Kingdom. Karman's team does not sit on the board of any company as of now.Here is a list of all team members in Karman:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United Kingdom | - | - | |
Partner | Austin | - | ||
Partner | United Kingdom | - | ||
Venture Partner | New York City | - | - | |
Principal | United States | - | - |
Co-investors of Karman
Over the past 8 years, 881 investors have co-invested in Karman's portfolio companies. This includes funds and angels.
- Invested before Karman: Y Combinator, Sequoia Capital and 270 others have invested in rounds before Karman. There are 9 companies where Y Combinator has invested before Karman and 2 companies where Sequoia Capital has invested before Karman.
- Top Co-investors of Karman: 403 investors entered a company along with Karman. These include investors like FJ Labs (6 companies).
- Invested after Karman: A total of 206 investors have invested in Karman's portfolio after their investments. Top Investors include Harmony Partners (2 companies), True Equity (2 companies) and Headline (2 companies).
Recent News related to Karman
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Fambot Raises $3.5M in Pre-Seed FundingFinSMEs•Sep 03, 2026•Fambot, Karman, Founders Network, Baukunst and 2 others
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Valerie Health Secures $30M Series A for AI Front Office in Independent Provider GroupsBakersfield•Dec 17, 2025•Redpoint Ventures, Valerie Health, .406 Ventures, Karman and 4 others
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AI testing startup Momentic raises $15M in Series A led by Standard Capital with Dropbox Ventures participation.TechCrunch+•Nov 24, 2025•Notion, Momentic, Dropbox, Karman and 3 others
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Credit risk automation platform Kaaj raises $3.8M seed from Kindred VenturesStartupNews•Nov 19, 2025•Kaaj.ai, Kindred Ventures, Better Tomorrow Ventures, Karman and 17 others
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$6.5 million for the development of underwater drones. UA1 invested in Y Combinator alumni AlbacoreAin•Oct 17, 2025•Albacore, Karman, Outlander VC, Alumni Ventures and 5 others
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Refold AI raises USD $6.5m to automate enterprise API tasksCFOtech•Aug 13, 2025•Karman, Ahead VC, Z21 Ventures, Better Capital and 7 others
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Orbital Operations Raises $8.8M in Seed FundingFinSMEs•Aug 07, 2025•DTX Ventures, Orbital Operations, Karman, TRAC and 3 others
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Collate Raises $10M Series A to Solve Data Intelligence Challengesintelligence360•Aug 04, 2025•Karman, Collate, Unusual Ventures, Venrock
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Jarsy Launches Platform to Democratize Access to Investing in Private Companies with $5M Fundingintelligence360•Jul 01, 2025•Jarsy, Breyer Capital, Karman, MoonPay and 3 others
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Neuron Factory Secures $6M Seed Funding and Partners with Cordeel GroupFinSMEs•May 27, 2025•Neuron Factory, Activant Capital, Colle Capital, Karman and 1 other
