MIT Increases Commitment to The Engine, Makes Investment and Provides Space and Specialized Expertise to Support Entrepreneurs Tackling the World’s Most Urgent Challenges
MIT Increases Commitment to The Engine, Makes Investment and Provides Space and Specialized Expertise to Support Entrepreneurs Tackling the World’s Most Urgent Challenges
10/27/20, 12:40 PM
Location
cambridgeThe Engine, the venture firm spun out of MIT that invests in early-stage Tough Tech companies solving some of the world’s biggest problems, announced today it has raised $230M toward its Fund II, bringing total capital commitments across its two funds to $435M. Since the launch of its first fund in 2017, The Engine has collaborated with leading research institutions to more quickly move innovation out of labs and into the market. The Engine’s initial fund has backed 27 companies that harness breakthrough science and technology, often from top research institutions, to solve important, global challenges across climate change, human health, and advanced systems. The Tough Tech investment firm will begin making investments from its Fund II this fall.
Company Info
Location
cambridge, maryland, united states
Additional Info
Launched by MIT in 2016, The Engine Accelerator, Inc (“The Engine”. is a Cambridge, MA-based venture capital firm that invests in early-stage Tough Tech companies in the Boston area. It provides the long-term capital, knowledge, connections, as well as the specialized equipment, space, and labs these transformative startups need to thrive. For more information, including a complete listing of investments made by the funds managed by The Engine, visit www.engine.xyz