Ridgeline announced the final close of its oversubscribed Fund II with more than $180M in commitments, inclusive of SBA commitments, and backing from Fortune 500 companies including FedEx and Cisco Investments. Fund II reflects growing demand for applied technologies built for operationally complex markets. It also marks Ridgeline’s inclusion in the first cohort of SBIC Licensees approved under the SBIC Critical Technology initiative, reinforcing the firm’s conviction that durable commercial technologies can strengthen both enterprise operations and mission-critical government systems.
Read our feature in The Wall Street Journal here.
Harbinger reported a doubling of EV truck sales following the expiration of federal incentives, defying expectations that demand would fall once subsidies ended. Fleet operators have been accelerating purchases ahead of anticipated tariff-related price increases, while Harbinger’s competitive total cost of ownership continues to convert buyers who were previously on the fence. Coming off a year in which Harbinger outsold all other medium-duty EV competitors combined, the sales increase reinforces a key part of the company’s position: medium-duty commercial fleets make buying decisions based on operating economics, not subsidies alone.
Knox Systems achieved FedRAMP High Authorization for its Managed Service Platform, expanding its longstanding FEMA partnership beyond the Moderate level. The High boundary clears 52 additional controls beyond baseline and allows Knox to support some of the most sensitive federal data, including intelligence and DoD workloads. With Authorities to Operate (ATOs) across 16 federal civilian and defense agencies, Knox is widening its addressable market for AI-enabled SaaS in government and strengthening its position with mission-critical federal customers.
ICON launched ICON Prime, a standalone business unit focused on military, intelligence, and space applications of its robotic 3D printing construction technology, with former CIA officer and Texas congressman Will Hurd named as president. The new division builds on a substantial government foundation in which ICON has been awarded more than $360M in government contracts and has delivered projects with the U.S. Army, U.S. Air Force, U.S. Marine Corps, U.S. Space Force, DIU, DARPA, and NASA.
Eclypsium raised a $25M strategic investment led by PEAK6 Strategic Capital to accelerate expansion of its hardware and firmware security platform across AI infrastructure. The company is extending its reach into GPU servers, NVIDIA BlueField DPU appliances, SASE and SD-WAN edge devices, 5G equipment, and CCTV cameras, categories where the firmware layer is becoming an increasingly important attack surface.
Q-CTRL advanced its quantum infrastructure software with two updates aimed at making quantum systems more practical and scalable. The company integrated NVIDIA’s Ising models into Boulder Opal Scale Up, using AI agents to automate qubit calibration, a key bottleneck as quantum hardware grows more complex. It also introduced Q-NEXUS, a new architecture designed to reduce the number of physical qubits needed for useful quantum computing. Together, the updates reinforce Q-CTRL’s view that commercial quantum progress will depend as much on smarter software and system design as it does on hardware improvements.
Across our portfolio, companies are hiring for 442 open roles. These teams are building the infrastructure, software, and systems that strengthen how critical industries operate.
You can search by role, location, seniority, and industry, or join the talent network to stay ahead of new openings.
If someone in your network is looking to work on high-stakes, real-world problems, feel free to forward this along.
The team will be on the road over the coming weeks, connecting with founders, partners, and operators across our network. If you’re nearby, don’t hesitate to reach out.
Boston @ MIT for BluePrint Showcase: May 19–21
Memphis: May 20–22
DC: May 21–22
Boston @ BOS Tech Week: May 26–29
NYC @ NYC Tech Week: June 1–3
SF: June 4–5
Chicago: June 9
DC: June 10
Philly: June 11
Chicago: June 16–18
If you’re in any of these locations, let us know.
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