About Transition
Transition is a venture capital firm located in London, United Kingdom. As of Sep 2026, Transition is an active investor, having invested in 20 companies, with 4 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 Environment Tech to High Tech and Enterprise Applications. Most recently it participated in the $***** Series B round of Odyssey Energy Solutions Overall, Transition portfolio has seen 2 unicorns, namely Watershed and Olix. A lot of funds co-invest with Transition, with names like Union Square Ventures sharing a substantial percentage of its portfolio. Transition has team of 8 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Deals in last 12 months
Transition's List of Top Investments
Transition has a portfolio of 20 companies, including 2 unicorns. Their most notable investments are in Hybird Energy and Invisix.Their portfolio spans across United States, United Kingdom, Denmark and 1 more locations. They have invested in Environment Tech, High Tech, Enterprise Applications and 15 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Transition:
1. Watershed
Provider of platform for enterprise sustainability programs, measurement, reporting, and action. The platform offers tools for carbon accounting, emissions reduction, and sustainability disclosure preparation. It facilitates target setting and progress tracking toward decarbonization. The platform supports audit-grade data and methodologies vetted by third-party auditors.
Key facts about Watershed
- Founded Year: 2019
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $185M
- Employee Count: 647 as on Sep 30, 2026
- Investors: Kleiner Perkins, Emerson Collective and 11 Others
- Latest Funding Round: Series C, Dec 22, 2025, $*****
- Highlight: Editors' Pick
Provider of end-to-end platform for distributed renewable energy finance. It accelerates capital deployment for renewable energy projects. The platform offers tools for portfolio management, supply chain credit, asset analytics, and results-based finance. It serves financiers, renewable energy companies, and equipment suppliers, streamlining project development and improving access to capital. The platform facilitates various aspects of project lifecycle, from initial financing to operational monitoring. It provides solutions to overcome bottlenecks in distributed renewable energy project development.
Key facts about Odyssey Energy Solutions
- Founded Year: 2017
- Location: Boulder (United States)
- Stage: Series B
- Total Funding till date: $65.8M
- Employee Count: 54 as on Sep 30, 2026
- Investors: Union Square Ventures, Founder Collective and 19 Others
- Latest Funding Round: Series B, Sep 01, 2026, $*****
- Highlight: Editors' Pick
3. Revoy
Manufacturer of electric trucks. The company offers hybrid-electric solutions for semi-trucks, allowing users to swap Revoy EVs for a charged unit in minutes.
Key facts about Revoy
- Founded Year: 2020
- Location: San Mateo (United States)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $27.5M
- Employee Count: 11 as on Sep 30, 2026
- Investors: Climate Capital, XYZ Venture Capital and 10 Others
- Latest Funding Round: Series A, Jul 31, 2026, $*****
- Highlight: Editors' Pick
4. Reel
Provider of renewable electricity procurement and energy consumption optimization services. This organization assists businesses in managing energy costs and risks through fixed-price power purchase agreements and data-driven insights. It enables clients to source electricity from solar, wind, and battery storage assets while tracking the origin of energy to support sustainability reporting. The service includes analyzing historical consumption patterns to develop tailored energy strategies for various industrial sectors. By integrating on-site production management with supply procurement, the firm helps commercial entities navigate electricity markets and improve operational efficiency.
Key facts about Reel
- Founded Year: 2020
- Location: Copenhagen (Denmark)
- Stage: Series A
- Total Funding till date: $25.5M
- Employee Count: 59 as on Sep 30, 2026
- Investors: UVC Partners, Future Energy Ventures and 6 Others
- Latest Funding Round: Series A, May 09, 2026, $*****
5. Seneca
Seneca offers technical support services. Its service offerings include virtual learning support, customer care, technical support, helpdesk, risk management, business process management, help desk outsourcing etc. It offers its services to various industries such as federal, security, food, universities, sorporate clients etc.
Key facts about Seneca
- Founded Year: 1991
- Location: Sausalito (United States)
- Stage: Late Stage
- Total Funding till date: $60M
- Employee Count: 42 as on Sep 30, 2026
- Investors: Advance Venture Partners, First Round Capital and 11 Others
- Latest Funding Round: Unattributed, Oct 21, 2025, $*****
Transition's Year-on-Year Investment Trends
Transition has invested in 20 companies over the last 5 years, with an average of 3 new investments annually in the last 5 years. In 2025, it made 2 investments, while as of Sep 2026, it has made 6 investments in this year. Its most recent first time investment was in Olix and most recent follow-on round was in Odyssey Energy Solutions.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 2 | 6 |
2025 | 2 | 0 | 2 |
2024 | 4 | 0 | 4 |
2023 | 4 | 1 | 5 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
Transition's Investments by Stage
Transition has made 7 investments in Seed stage with an average round size of $7.92M, 5 investments in Series A stage with an average round size of $11.5M, 2 investments in Series B stage with an average round size of $171M and 1 investment in Unattributed stage with an average round size of $60M.Stage of entry | No. of Investments |
|---|---|
Seed | 7 |
Series A | 5 |
Series B | 2 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Transition's Investments by Sector
Transition has a diverse portfolio, with companies operating in the Environment Tech, Sustainability Tech, Energy Tech, Energy and Enterprise Applications. Notably, it has invested in 16 Enterprise (B2B) companies, 15 Tech companies, 4 Software companies and at least 4 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Environment Tech | 7 |
Sustainability Tech | 7 |
Energy Tech | 5 |
Energy | 3 |
Enterprise Applications | 3 |
Others | 14 |
Note: We have considered here, only first round of investments
Transition's Investments by Geography
Transition has made most investments in United States (6), followed by United Kingdom where it has made 4 investments.Country | No. of Investments |
|---|---|
United States | 6 |
United Kingdom | 4 |
Denmark | 3 |
France | 1 |
Note: We have considered here, only first round of investments
Transition's recent investments
Transition has made 6 investments in 2026 so far. Odyssey Energy Solutions and Olix are the latest among them.Here are the most recent investments by Transition:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 01, 2026 | United States | Series B | 2126 | [+8] | |
Aug 03, 2026 | United Kingdom | Series B | 8755 | [+8] | |
Jun 01, 2026 | - | Seed | 1352 | [+2] | |
May 09, 2026 | Denmark | Series A | 1665 | ||
Mar 23, 2026 | United States | Seed | 3403 |
Unicorns in Transition's Portfolio
Transition has 2 unicorns in its portfolio - Olix and Watershed. The most recent unicorn in their portfolio is Olix. It became a unicorn in 2026.Here is a list of unicorns in Transition's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
52 | Developer of specialized hardware infrastructure for high performance artificial intelligence | 2024 | London | Series B | fjbzedq | ||
75 | Provider of platform for enterprise sustainability programs, measurement, reporting, and action | 2019 | San Francisco | Series C | ecbkdez |
Team profile of Transition
Transition has a team of 8 members including 5 Partners and 2 Venture Partners located in United Kingdom, United States and 1 more location. Transition's team does not sit on the board of any company as of now.Here is a list of all team members in Transition:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | London | - | ||
Partner | London | - | ||
Partner | Washington | - | ||
Partner | Sydney | - | ||
Partner | London | - | ||
Venture Partner | United States | - | ||
Venture Partner | Santa Clara | - |
Co-investors of Transition
Over the past 5 years, 99 investors have co-invested in Transition's portfolio companies. This includes funds and angels.
- Invested before Transition: Founder Collective, Equal Ventures and 23 others have invested in rounds before Transition. There are 2 companies where Founder Collective has invested before Transition and 1 company where Equal Ventures has invested before Transition.
- Top Co-investors of Transition: 59 investors entered a company along with Transition. These include investors like Union Square Ventures (2 companies).
- Invested after Transition: A total of 15 investors have invested in Transition's portfolio after their investments. Top Investors include British International Investment (1 company), Broadscale Group (1 company) and FMO (1 company).
Recent News related to Transition
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Helping women find sustainable work; Transition VC launches new fund
YourStory•Jul 22, 2026•Transition
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Agri Drone Startup Suind Set to Raise ₹20.5 Crore to Scale Precision Farming SolutionsViestories•Jul 20, 2026•SUIND, Transition VC, Transition
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ZeroDrag Secures Rs 6.5 Crore Seed Funding Led by Transition VC for Drone Avionics ExpansionEntrackr•May 28, 2026•Transition
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Transition Ventures Raises €128 Million Fund II for Early-Stage AI and Physical World CompaniesEU-Startups•May 27, 2026•Transition
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Applied Atomics Secures $8M Seed FundingMassinvestor•Mar 25, 2026•Applied Atomics, Transition, Morpheus Ventures
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GreenTech Secures ₹300 Million to Enhance Wind Turbine Asset ManagementMercom India•Jan 14, 2026•Transition, GreenTech
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GreenTech Secures ₹30 Crore Investment from Transition VC for ExpansionNews on Projects•Jan 13, 2026•Transition, GreenTech
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Seneca Secures $60M to Advance Wildfire Defense TechnologyRoboticstomorrow•Oct 21, 2025•NextView Ventures, Transition, StepStone Group, Advance Venture Partners and 13 others
