Ateios Systems wins $1 million investment in inaugural TitletownTech’s start-up draft competition
The company was part of the 2022 cohort of the "Innovation Crossroads" program at ORNL.
Yesterday afternoon in Green Bay, WI, ahead of the National Football League’s annual draft of college football players that began at 8 p.m., there was another competition that was also held in the city, and one of the two winners was a member of the 2022 cohort of the “Innovation Crossroads” program at Oak Ridge National Laboratory.
Ateios Systems, whose tagline is “building better batteries for a better world,” captured a $1 million investment in TitletownTech‘s first-ever start-up draft competition along with $350,000 in Microsoft Azure credits to accelerate its growth. Ateios is pioneering an approach to manufacturing next-generation, high-energy-dense, environmentally friendly battery electrodes. The company has developed a revolutionary chemistry-agnostic platform for manufacturing battery electrodes without toxic solvents or forever chemicals. Its RaiCure™ Electrode Coating technology enables dramatically faster, cleaner, and lower-cost battery production, poised to transform industries reliant on advanced energy storage.
“We’re excited to invest in Ateios and support the company’s breakthrough approach to battery manufacturing,” said Jill Enos, Managing Partner at TitletownTech. “The team’s technology addresses urgent global needs around energy storage and sustainability, and it’s exactly the kind of innovation we’re committed to advancing.”
The other first-round draft pick, as TitletownTech described the two winners, was Ubicept of Madison, WI. It is redefining computer vision with technology that enables machines to see beyond the limits of traditional cameras, performing in extreme lighting, motion, and environmental conditions. The company’s advanced sensor processing unlocks ultra-low noise, high-speed imaging for robotics, automotive, surveillance, and industrial applications.
TitletownTech is a venture capital (VC) firm that’s a partnership between the Green Bay Packers and Microsoft.
According to Craig Dickman, TitletownTech’s Managing Partner, start-ups selected must have less than $10 million in capital, be based in the United States or Canada, and fall into one of the VC firm’s areas of interest, which include:
- Manufacturing and construction;
- Supply chain and logistics;
- Sports, media, and entertainment;
- Agriculture, water, and energy; and
- Digital health.
For Rajan Kumar, Founder and Chief Executive Officer of Ateios Systems that is headquartered in Newberry, IN, the investment is a major down payment on an $8.5 million round that the company is raising to build out a production facility in New York State.
“It took 50 years to build one terawatt of battery storage, and we need 240 terawatts by 2050,” he explained, adding, “Our technology can do just that. It’s the fastest, lowest-cost, and most sustainable option. It’s an innovative technology that gives us a competitive advantage.”
The other finalists were:
- Avant Genomics of Charlottesville, VA, that is automating blood-based cancer detection;
- CubeNexus of Tulsa, OK, that gives answers to complex spatial queries quickly, accurately, and at cost;
- Devii of Fargo, ND, that is helping software developers write better code faster;
- Shelfmark of Pittsburgh, PA, that is using artificial intelligence to improve visual inspection automation for manufacturers; and
- SpaceRake of Cambridge, MA, that is making laser communications possible anywhere in the world.
In addition to the first-round picks, Shelfmark was named the Start-up Draft Fan Favorite. More than 2,000 public votes were cast, with Shelfmark rising to the top.
The Packers-Microsoft venture capital firm was formed in 2019. Dickman said the firm has nearly $100 million in assets and has invested in more than 30 companies, including RAIC Labs, Fork Farms, GenLogs, Oculogica, and Realta Fusion.
Through a three-part structure, TitletownTech enables innovation, exploration, and disruption to address industry challenges. The Innovation Lab identifies and explores digital, transformative solutions, while the Venture Studio develops creative market solutions with new and existing start-ups, and the Venture Fund invests in high-growth scalable ventures that leverage the region’s strengths.
For our previous coverage of Ateios Systems, click here, here, and here in reverse chronological order.
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