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Venture Capital
FINANCE | Investment Firms & Funds
blackhornvc.com

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Investments

43

Portfolio Exits

1

Funds

2

Partners & Customers

1

About Blackhorn Ventures

Blackhorn Ventures is a seed and early stage venture fund that invests in companies using science and engineering based solutions to redefine resource efficiency.

Blackhorn Ventures Headquarter Location

1023 Walnut Street Suite 100

Boulder, Colorado, 80302,

United States

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Latest Blackhorn Ventures News

To create voice assistants on industrial floors, Datch obtains $10 million

Jul 27, 2022

Last Updated: July 26, 2022 A $10 million Series A funding round headed by Blackhorn Ventures has been announced for Datch, a business that builds AI-powered voice assistants for industrial customers. Additionally, new software, tools and capabilities will be developed as a result of the funds raised. The idea for Datch came to Fosdike after he met two ex-Siemens engineers, Aric Thorn and Ben Purcell. When it comes to building speech solutions for businesses, they realised that jargon, acronyms and syntax unique to each consumer must be taken into account. “The way we extract information from systems changes every year, but the way we input information — especially in the industrial world — hasn’t changed since the invention of the keyboard and database,” Fosdike said. “The industrial world had been left in the dark for years, and we knew that developing a technology with voice-visual AI would help light the way for these factories.” Using artificial intelligence, Datch’s voice assistants parse orders like “Report an issue with the Line 1 Spot Welder” to gather and organise data from users in the plant or out in the field. Fixing it will take around an hour and a half. In order to publish or read data, they use existing systems, such as enterprise resource and asset management platforms, which are linked to the smartphone they are running on. A timeline of occurrences is provided by Datch’s aides, who can record data even if there is no Internet connection. With their help, employees may use voice commands to do activities including filling out corporate forms, creating and updating work orders, assigning assignments, and searching company information. Aside from daily backups and encryption of data in transit and storage, Fosdike didn’t go into much detail regarding how Datch handles voice data. In order to train the speech and language data, “we have to apply a lot of tight, automatic feedback loops,” Fosdike said. “And so everyone’s encounter with Datch is slightly different, depending on the organisation and team.” It’s very uncommon for customers to experiment with a variety of applications for the language data they collect, including predictive maintenance, automated cause code categorization, and even predicting worker weariness before it becomes a serious safety issue. I’m a little sceptical about that last prediction of worker tiredness. Even though it’s not a new theory, some experts feel that AI can’t identify symptoms like weariness with 100% accuracy. Moreover, people show fatigue in a variety of ways, depending on their gender, ethnicity, and socioeconomic status, as well as their employment environment. Fosdike claims that Datch’s technology is helping industrial clients stay ahead of economic instability by “vastly enhancing” their operations’ efficiency, leaving aside the tiredness-detecting situation. There are a lot of reporting systems that aren’t simple for front-line workers, he points out. Voice is an easier and faster alternative in many circumstances. Fosdike explains that by reducing the time it takes to complete a report, his company helps front-line workers become more productive. A global epidemic will not be able to stop industrial businesses from scaling up their operations with more than simply human resources. Using our AI, these organisations can get an effective solution in a fraction of the time and with a lot less overhead.” Aiqudo, Rain, and Onvego are all developing speech solutions for industrial clients, and Datch competes with them all. Fosdike views Deloitte’s Maxwell, Genba, and Athena as competitors as well. ConEd, Singapore Airlines and ABB Robotics are just a few of the clients that Datch has. However, business is still stable. This new round of financing was completed quicker than anticipated because of the increased market demand.” In the post-COVID digital transformation boom, as well as the $1 trillion infrastructure plan, “the timing is ripe to take advantage of both of these opportunities,” Fosdike said, referring to the $1 trillion package enacted by US Congress in November. As of now, we have a staff of 20, but we hope to increase that to 55-60 by the end of the year, with a final headcount of 40 or so.

Blackhorn Ventures Investments

43 Investments

Blackhorn Ventures has made 43 investments. Their latest investment was in Datch as part of their Series A on July 7, 2022.

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Blackhorn Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/26/2022

Series A

Datch

$10M

Yes

5

6/30/2022

Seed VC

Agorus

$6.5M

No

3

6/2/2022

Series A

ecoworks

$8.24M

Yes

2

3/10/2022

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

3/9/2022

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

7/26/2022

6/30/2022

6/2/2022

3/10/2022

3/9/2022

Round

Series A

Seed VC

Series A

Seed VC

Seed VC

Company

Datch

Agorus

ecoworks

Subscribe to see more

Subscribe to see more

Amount

$10M

$6.5M

$8.24M

$99M

$99M

New?

Yes

No

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

5

3

2

10

10

Blackhorn Ventures Portfolio Exits

1 Portfolio Exit

Blackhorn Ventures has 1 portfolio exit. Their latest portfolio exit was Electriphi on June 17, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/17/2021

Acquired

$99M

17

Date

6/17/2021

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

17

Blackhorn Ventures Fund History

2 Fund Histories

Blackhorn Ventures has 2 funds, including Blackhorn Motiv Investment SPV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/28/2018

Blackhorn Motiv Investment SPV

$1.58M

1

7/10/2017

Blackhorn Ventures

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

3/28/2018

7/10/2017

Fund

Blackhorn Motiv Investment SPV

Blackhorn Ventures

Fund Type

Subscribe to see more

Status

Subscribe to see more

Amount

$1.58M

$99M

Sources

1

10

Blackhorn Ventures Partners & Customers

1 Partners and customers

Blackhorn Ventures has 1 strategic partners and customers. Blackhorn Ventures recently partnered with Agorus on April 4, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

4/1/2021

Partner

United States

Date

4/1/2021

Type

Partner

Business Partner

Country

United States

News Snippet

Sources

Blackhorn Ventures Team

3 Team Members

Blackhorn Ventures has 3 team members, including current Founder, Managing Partner, Philip O'Connor.

Name

Work History

Title

Status

Philip O'Connor

Founder, Managing Partner

Current

Trevor Zimmerman

Founder, Managing Partner

Current

Melissa A Cheong

Zoma Capital, Treehouse Investments, Imprint Capital, Plainfield Asset Management, and Deutsche Bank

Managing Partner

Current

Name

Philip O'Connor

Trevor Zimmerman

Melissa A Cheong

Work History

Zoma Capital, Treehouse Investments, Imprint Capital, Plainfield Asset Management, and Deutsche Bank

Title

Founder, Managing Partner

Founder, Managing Partner

Managing Partner

Status

Current

Current

Current

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