# Innovation Works: portfolio, investments and team

> Innovation Works is a government based in United States. 321 investments on record, 15 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/innovation-works (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Innovation Works

Last cheque observed Sep 2026; 321 cheques on record.

Deploying now New fund $275M, Jul 2015 Government

Pre-seed Seed Series A Sustainable Development Goals Sustainable Social

Deploying now

**56%** of best year **15** **cheques in 12 months**, 321 on record

Since the last cheque **55** days **00** hrs **00** min **00** sec

Median round **$972K** Cheque size, as they say **$100K – $300K** Rounds led **0 of 321** Sole investor **177 rounds** Exits **10 from the portfolio** Mostly in **United States, 100%**

Pitch Innovation Works

## Innovation Works highlights

- 01 15 cheques in the last 12 months
- 02 Mostly Seed and Venture: 80% of its rounds
- 03 Sole investor in 177 rounds, median $500K
- 04 10 exits from the portfolio

## What they do

- **Type:** Government (from a list, unverified)
- **Cheque size:** $100K – $300K as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Sustainable Development Goals Sustainable Social
- **Based in:** Pittsburgh, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **321 appearances**

- **2026** 13 rounds
- **Sept** **[CorePower Magnetics](https://millionrounds.com/company/corepower-magnetics)** Seed · US **$11M** With 2 others
- **Sept** **[PittMoss](https://millionrounds.com/company/pittmoss)** Venture · US **$1.2M** With 2 others
- **Jul** **[Shelfmark](https://millionrounds.com/company/shelfmark)** Venture · US **$4.9M** Sole investor
- **Jul** **[HeadStrait Labs](https://millionrounds.com/company/headstrait-labs)** Seed · US **$350K** With 1 other
- **Jul** **[Sharp Therapeutics](https://millionrounds.com/company/sharp-therapeutics)** US **$972K** Sole investor
- **Jul** **[InnSight Technology](https://millionrounds.com/company/innsight-technology)** Grant · US **$515K** With 3 others
- **Jun** **[Ilant Health](https://millionrounds.com/company/ilant-health)** Series A · US · TechStartups **$15M** With 9 others
- **May** **[ThoroughCare](https://millionrounds.com/company/thoroughcare)** Venture · US **$2.3M** Sole investor
- **Apr** **[JuneBrain](https://millionrounds.com/company/junebrain)** Venture · US **Undisclosed** With 2 others
- **Mar** **[NOCTEM Health](https://millionrounds.com/company/noctem-health)** Venture · US **$1.5M** Sole investor
- **Mar** **[Honeycomb Credit](https://millionrounds.com/company/honeycomb-credit)** Debt · US **$1.1M** With 1 other
- **Feb** **[MetaSilicon](https://millionrounds.com/company/metasilicon)** Series A **$43M** With 2 others
- **Jan** **[Diamond Kinetics](https://millionrounds.com/company/diamond-kinetics)** Venture · US **$12M** Sole investor
- **2025** 18 rounds
- **Dec** **[Module](https://millionrounds.com/company/module)** Venture · US **$500K** With 3 others
- **Nov** **[PECA Labs](https://millionrounds.com/company/peca-labs)** Venture · US **$2.7M** Sole investor
- **Oct** **[TRAiNED](https://millionrounds.com/company/trained)** Venture · US **Undisclosed** Sole investor
- **Oct** **[Peptilogics](https://millionrounds.com/company/peptilogics)** Series B · US **$78M** With 3 others
- **Oct** **[CytoAgents](https://millionrounds.com/company/cytoagents)** Grant · US **$2.3M** With 2 others
- **Oct** **[BlastPoint](https://millionrounds.com/company/blastpoint)** Series A · US **$14M** With 2 others
- **Oct** **[JuneBrain](https://millionrounds.com/company/junebrain)** Venture · US **$450K** With 2 others
- **Sept** **[Parcel Health](https://millionrounds.com/company/parcel-health)** Seed · US **$1.3M** Sole investor
- **Sept** **[Respair, Inc.](https://millionrounds.com/company/respair-inc)** Grant · US **$305K** With 1 other
- **Jul** **[Shelfmark](https://millionrounds.com/company/shelfmark)** Venture · US **Undisclosed** Sole investor
- **Jul** **[MetasTx LLC](https://millionrounds.com/company/metastx-llc)** Grant · US **$400K** With 1 other
- **Jun** **[Kloopify](https://millionrounds.com/company/kloopify)** Venture · US **Undisclosed** With 1 other
- **Jun** **[Respair, Inc.](https://millionrounds.com/company/respair-inc)** Seed · US **$2.2M** Sole investor
- **Jun** **[Hebi Robotics](https://millionrounds.com/company/hebi-robotics)** Grant · US **$250K** Sole investor
- **Mar** **[iTruckr](https://millionrounds.com/company/itruckr)** Venture · US **Undisclosed** Sole investor
- **Mar** **[InnSight Technology](https://millionrounds.com/company/innsight-technology)** Venture · US **Undisclosed** With 3 others
- **Feb** **[Ecotone Renewables](https://millionrounds.com/company/ecotone-renewables)** Crowdfunding · US **$208K** With 2 others
- **Feb** **[Toyz Electronics](https://millionrounds.com/company/toyz-electronics)** Venture · US **Undisclosed** With 2 others
- **2024** 21 rounds
- **Nov** **[Arieca](https://millionrounds.com/company/arieca)** Debt · US **$500K** With 2 others
- **Nov** **[Advanced Optronics](https://millionrounds.com/company/advanced-optronics)** Seed · US **$200K** With 2 others
- **Nov** **[Realyze Intelligence](https://millionrounds.com/company/realyze-intelligence)** Seed · US **$500K** Sole investor
- **Oct** **[Parcel Health](https://millionrounds.com/company/parcel-health)** Venture · US **Undisclosed** Sole investor
- **Sept** **[Forest Devices](https://millionrounds.com/company/forest-devices)** Venture · US **Undisclosed** With 3 others
- **Sept** **[CapSen Robotics](https://millionrounds.com/company/capsen-robotics)** Venture · US **Undisclosed** With 1 other
- **Sept** **[Revitalize Energy](https://millionrounds.com/company/revitalize-energy)** Venture · US **Undisclosed** With 1 other
- **Sept** **[Rimsys](https://millionrounds.com/company/rimsys)** Venture · US **$5.0M** With 3 others
- **Aug** **[Gridwise](https://millionrounds.com/company/gridwise)** Venture · US **Undisclosed** With 5 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **8 named**

CL **Christine Lang** Executive Officer i Filing they signed

CE **Christoforos Evdaimon** Executive Officer i Filing they signed

EZ **Eagle Zhang** Executive Officer i Filing they signed

HW **Hua Wang** Executive Officer i Filing they signed

JQ **John Qiu** Executive Officer i Filing they signed

KL **Kai-Fu Lee** Director of General Partner of General Partner i Filing they signed

NT **Ning Tao** Executive Officer i Filing they signed

PL **Peter Liu** Director of General Partner of General Partner i Filing they signed

We also hold **44** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What they claim to have backed

From their own portfolio page (on their website)

**5** of 14 we have independently watched raise

[Accipitersystems](https://millionrounds.com/company/accipiter-systems)[Adrich](https://millionrounds.com/company/adrich)[Advanced Optronics](https://millionrounds.com/company/advanced-optronics)[Aethon](https://millionrounds.com/company/aethon)[Babylist](https://millionrounds.com/company/babylist) Acceldxlab Activaided AdSkate Admirra Flir Icxt Therobotreport Uppababy complete this request

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **10 in all**

**[Safaba Translation Solutions](https://millionrounds.com/company/safaba-translation-solutions)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **Undisclosed** Sept 2015

**[Shoefitr](https://millionrounds.com/company/shoefitr)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **Undisclosed** Apr 2015

**[Distill](https://millionrounds.com/company/distill)** Bought by [Gild](https://millionrounds.com/fund/gild) **Undisclosed** Mar 2014

**[Plextronics](https://millionrounds.com/company/plextronics)** Bought by [Solvay](https://millionrounds.com/fund/solvay) **Undisclosed** Mar 2014

**[BPL Global](https://millionrounds.com/company/bpl-global)** Bought by Qualitrol **Undisclosed** Sept 2013

**[Jibbigo](https://millionrounds.com/company/jibbigo)** Bought by [Facebook](https://millionrounds.com/fund/facebook) **Undisclosed** Aug 2013

**[Compliance Assurance](https://millionrounds.com/company/compliance-assurance)** Bought by StoneRiver **Undisclosed** Nov 2012

**[Vivisimo](https://millionrounds.com/company/vivisimo)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Apr 2012

**[ImpactGames](https://millionrounds.com/company/impactgames)** Bought by Hybrid Learning Systems **Undisclosed** Aug 2010

**[BitArmor Systems](https://millionrounds.com/company/bitarmor-systems)** Bought by Trustwave Holdings **Undisclosed** Jan 2010

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$275M**

raised in Jul 2015

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$972K** the round, not its cheque Alone, median **$500K**

Led 0 of 321 rounds **0%**

- **Said size:** $100K – $300K
- **Sole investor:** 177 rounds
- **Last cheque:** Sept 2026
- **Exits:** 10 from the portfolio

Rounds by stage said on their site

- Seed said *170*
- Venture *63*
- Series A said *39*
- Series B said *11*
- Grant *10*
- Pre-seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [National Science Foundation](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) 21
- [Pittsburgh Life Sciences Greenho](https://millionrounds.com/fund/pittsburgh-life-sciences-greenhouse) 8
- [Richard King Mellon Foundation](https://millionrounds.com/fund/richard-king-mellon-foundation) 8
- [AlphaLab](https://millionrounds.com/fund/alpha-labs-accelerator-incubator) 7
- [Right Side Capital Management](https://millionrounds.com/fund/right-side-capital-management) 7
- [Techstars](https://millionrounds.com/fund/techstars) 6

**Pitching Innovation Works?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Innovation Works. A count of rooms they were both in, not a relationship either has claimed.

[**National Science Foundation** Government **21** rounds together](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno)[**Pittsburgh Life Sciences Greenho** Accelerator **8** rounds together](https://millionrounds.com/fund/pittsburgh-life-sciences-greenhouse)[**Richard King Mellon Foundation** Private equity **8** rounds together](https://millionrounds.com/fund/richard-king-mellon-foundation)[**AlphaLab** Accelerator **7** rounds together](https://millionrounds.com/fund/alpha-labs-accelerator-incubator)[**Right Side Capital Management** VC firm **7** rounds together](https://millionrounds.com/fund/right-side-capital-management)[**Techstars** VC firm **6** rounds together](https://millionrounds.com/fund/techstars)[**Birchmere Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/birchmere-ventures)[**BlueTree Allied Angels** Angel network **5** rounds together](https://millionrounds.com/fund/bluetree-allied-angels)[**Newlin Investment Company** Private equity **5** rounds together](https://millionrounds.com/fund/newlin-investment-company)[**Creative Destruction Lab** Accelerator **4** rounds together](https://millionrounds.com/fund/creative-destruction-lab)[**Keiretsu Capital** VC firm **4** rounds together](https://millionrounds.com/fund/keiretsu-capital)[**Monozukuri Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/monozukuri-ventures)

## Recently backed

The latest companies Innovation Works put money into.

[**CorePower Magnetics** $11M · Sept 2026](https://millionrounds.com/company/corepower-magnetics)[**PittMoss** $1.2M · Sept 2026](https://millionrounds.com/company/pittmoss)[**Shelfmark** $4.9M · Jul 2026](https://millionrounds.com/company/shelfmark)[**HeadStrait Labs** $350K · Jul 2026](https://millionrounds.com/company/headstrait-labs)[**Sharp Therapeutics** $972K · Jul 2026](https://millionrounds.com/company/sharp-therapeutics)[**InnSight Technology** $515K · Jul 2026](https://millionrounds.com/company/innsight-technology)

## Mentioned on podcasts

Episodes that name Innovation Works in their description, not their title.

- [Inevitable](https://millionrounds.com/podcasts/inevitable) 31 Jan 2022 · 49 min Ep. 194: Phil Graves, Former Head of Tinshed Ventures at Patagonia Mentions [Innovation Works](https://millionrounds.com/fund/innovation-works) Apple PodcastsShow page

## Quick answers about Innovation Works

### What does Innovation Works invest in?

Innovation Works invests most often at Seed and Venture (80% of the rounds on record), in sectors such as Sustainable Development Goals, Sustainable and Social.

### How active is Innovation Works?

321 investments on record, 15 of them in the last 12 months. The most recent was in Sept 2026.

### What has Innovation Works invested in recently?

Its most recent investments on record: CorePower Magnetics (Seed, Sept 2026), PittMoss (Venture, Sept 2026) and Shelfmark (Venture, Jul 2026).

### How big are Innovation Works's cheques?

The median round it joins is $972K. It says it writes cheques of $100K to $300K.

### Does Innovation Works lead rounds?

Rarely, if at all: none of its 321 investments on record names it as the lead.

### Where does Innovation Works invest?

Most of the companies it backs are in the United States (100%).

### Is Innovation Works investing now?

Yes: it is actively investing, with 15 investments in the last 12 months.

### Who does Innovation Works invest alongside?

Most often National Science Foundation (21 rounds together), Pittsburgh Life Sciences Greenho (8 rounds together) and Richard King Mellon Foundation (8 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=innovation-works) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=innovation-works)