NIVC Investment F101: Extellis
We are thrilled to announce New Industry VC's 1st investment: Extellis
Since we like cool shorthand, we’re calling this NIVC Investment F101 (Fund 1, Investment 1). The other F101 remains quite cool, however.
Congrats to Extellis founder Michael Boyarsky for closing an oversubscribed $6.8mm seed round led by Oval Park Capital.
Extellis’ patented metasurface technology enables an unprecedented blend of reliable, low cost, wide-area, high-resolution satellite imagery in all weather conditions.
It builds on a decade of development in co-founder and Prof. David Smith’s lab at Duke University, with support from Duke New Ventures and the Gilhuly Accelerator Fund. The antenna technology was advanced through a $2.3M grant from Defense Advanced Research Projects Agency (DARPA).