About Thin Line Capital
Thin Line Capital is a venture capital firm founded in 2017. It is primarily based out of Pasadena, United States. As of Aug 2026, Thin Line Capital is an active investor, having invested in 14 companies, with 2 new investments in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Environment Tech. Most recently it participated in the $***** Series B round of Reframe Systems A lot of funds co-invest with Thin Line Capital, with names like B Current sharing a substantial percentage of its portfolio. Thin Line Capital has team of 4 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 1 more
Deals in last 12 months
Thin Line Capital's List of Top Investments
Thin Line Capital has a portfolio of 14 companies. Their most notable investments are in Divirod and Sistine Solar.Their portfolio spans across United States and Canada. They have invested in Enterprise Applications, High Tech, Environment Tech and 8 other sectors, across stages such as Series A, Seed and 1 more. Here is the list of top investments by Thin Line Capital:1. XGS Energy
Key facts about XGS Energy
- Founded Year: 2008
- Location: Palo Alto (United States)
- Stage: Series A
- Total Funding till date: $47M
- Employee Count: 47 as on Jul 31, 2026
- Investors: ClearSky, Helmerich & Payne and 11 Others
- Latest Funding Round: Series A, Mar 26, 2025, $*****
2. SenseNet
Provider of AI-powered solutions for early detection of mountain and forest fires. It provides gas sensors, smoke detection cameras, and a management platform. The platform integrates data from sensors, cameras, satellites, and weather stations. It offers incident management, alarms, and wildfire progress forecasts. The solutions cater to private companies, public authorities, and local communities.
Key facts about SenseNet
- Founded Year: 2019
- Location: Vancouver (Canada)
- Stage: Series A
- Total Funding till date: $14M
- Employee Count: 25 as on May 31, 2026
- Investors: Fusion Fund, Plaza Ventures and 4 Others
- Latest Funding Round: Series A, Oct 22, 2025, $*****
3. Voltaiq
Voltaiq provides a battery data management software-as-a-service platform. It automates routine data management tasks, providing real-time, interactive access to battery data, which helps accelerate productivity, increase battery performance, optimize battery operation, and reduce business risks. The data available from the system can also be stored in the repository to develop better algorithms to enables predictive maintenance activities and alerts for battery systems. Also provides a Battery Digital Twin that is claimed to have the capability of simulating the battery system’s full-lifecycle performance, from development to operation, allowing researchers and OEMs to get a clear picture of a product’s anticipated performance.
Key facts about Voltaiq
- Founded Year: 2012
- Location: Berkeley (United States)
- Stage: Series B
- Total Funding till date: $12M
- Employee Count: 30 as on Jul 31, 2026
- Investors: Bee Partners, Underwriters Laboratories and 11 Others
- Latest Funding Round: Series B, Mar 12, 2021, $*****
- Highlight: Editors' Pick
Key facts about Reframe Systems
- Founded Year: 2022
- Location: Somerville (United States)
- Stage: Series B
- Total Funding till date: $60M
- Employee Count: 75 as on Jul 31, 2026
- Investors: MassMutual, RA Capital Management and 16 Others
- Latest Funding Round: Series B, Aug 31, 2026, $*****
5. Optiwatt
Charging management app for electric vehicle owners. They offer an EV Scheduler app that tracks the exact cost of charging electric vehicles by syncing with electricity rates.
Key facts about Optiwatt
- Founded Year: 2020
- Location: San Francisco (United States)
- Stage: Series A
- Total Funding till date: $13.9M
- Employee Count: 2 as on Jul 31, 2026
- Investors: Navitas Capital, Navitas Capital and 5 Others
- Latest Funding Round: Series A, Sep 08, 2024, $*****
- Highlight: Editors' Pick
Thin Line Capital's Year-on-Year Investment Trends
Thin Line Capital has invested in 14 companies over the last 7 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 2 investments, while as of Aug 2026, it has made 1 investment in this year. Its most recent first time investment was in Reframe Systems and most recent follow-on round was in Optiwatt.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 2 | 0 | 2 |
2024 | 1 | 0 | 1 |
2023 | 1 | 2 | 3 |
2022 | 2 | 0 | 2 |
2021 | 2 | 0 | 2 |
2020 | 0 | 0 | 0 |
2019 | 1 | 0 | 1 |
Thin Line Capital's Investments by Stage
Thin Line Capital has made 5 investments in Series A stage with an average round size of $14.6M, 4 investments in Seed stage with an average round size of $2M and 1 investment in Series B stage with an average round size of $40M.Stage of entry | No. of Investments |
|---|---|
Series A | 5 |
Seed | 4 |
Series B | 1 |
Note: We have considered here, only first round of investments
Thin Line Capital's Investments by Sector
Thin Line Capital has a diverse portfolio, with companies operating in the Sustainability Tech, Enterprise Applications, Environment Tech, High Tech and Energy. Notably, it has invested in 9 Tech companies, 8 Enterprise (B2B) companies, 8 Software companies and at least 4 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Sustainability Tech | 6 |
Enterprise Applications | 5 |
Environment Tech | 5 |
High Tech | 3 |
Energy | 2 |
Others | 11 |
Note: We have considered here, only first round of investments
Thin Line Capital's Investments by Geography
Thin Line Capital has made most investments in United States (8), followed by Canada where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 8 |
Canada | 2 |
Note: We have considered here, only first round of investments
Thin Line Capital's recent investments
Thin Line Capital has made 1 investments in 2026 so far - Reframe Systems.Here are the most recent investments by Thin Line Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 31, 2026 | United States | Series B | 4681 | ||
Oct 22, 2025 | Canada | Series A | 1457 | [+4] | |
May 29, 2025 | United States | Seed | 3340 | ||
Jan 02, 2024 | United States | Series A | 8633 | [+4] | |
Nov 16, 2023 | United States | Series A | 4378 | [+4] |
Team profile of Thin Line Capital
Thin Line Capital has a team of 4 members located in United States. Thin Line Capital's team does not sit on the board of any company as of now.Co-investors of Thin Line Capital
Over the past 7 years, 55 investors have co-invested in Thin Line Capital's portfolio companies. This includes funds and angels.
- Invested before Thin Line Capital: Anzu Partners, Helmerich & Payne and 10 others have invested in rounds before Thin Line Capital. There is 1 company where Anzu Partners has invested before Thin Line Capital and 1 company where Helmerich & Payne has invested before Thin Line Capital.
- Top Co-investors of Thin Line Capital: 33 investors entered a company along with Thin Line Capital. These include investors like B Current (2 companies).
- Invested after Thin Line Capital: A total of 10 investors have invested in Thin Line Capital's portfolio after their investments. Top Investors include Aligned Climate Capital (1 company), ClearSky (1 company) and Climate Innovation Capital (1 company).
Recent News related to Thin Line Capital
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Geothermal Innovator XGS Energy Completes Oversubscribed $20M Capital RaiseBusiness Wire•May 21, 2024•XGS Energy, VoLo Earth Ventures, Thin Line Capital, MIH Capital Management and 5 others
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Thin Line Capital Closes Second Fund With $14MLos Angeles Business Journal•Mar 04, 2024•Thin Line Capital
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XGS Energy Secures $9.7M in New Financing Led by Constellation Technology VenturesBusiness Wire•Jan 23, 2024•Thin Line Capital, BlueScopeX, Constellation Energy, XGS Energy and 1 other
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Optiwatt Raises $7M in Series A FundingFinSMEs•Nov 16, 2023•Optiwatt, Navitas Capital, Skyview Ventures, Google Ventures and 3 others
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Divirod Raises $3.6M in Bridge FundingFinSMEs•Aug 04, 2023•Divirod, GHD, Thin Line Capital, TDK Ventures
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Kevala raises $21M to improve tools for managing energy grid infrastructureTechCrunch+•Aug 31, 2021•Kevala, C5 Capital, Thin Line Capital
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Energy Foundry Invests in Sistine SolarPRWeb•Oct 16, 2019•Energy Foundry, Sistine Solar, Masscec, Thin Line Capital
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