Lemnos Labs

Lemnos Labs is a venture fund based in San Francisco, that invests in technology, software, and cloud services companies, serving customers in the United States. Founding in 2011 by Helena Zelman Boniske and Jeremy Conrad, it is an early-stage venture fund that invests in pre-seed and seed startups. They invest in the earliest stages of building hardware. Lemnos initially operated as an incubator program but transitioned to a venture firm. The company invests in both startups with a hardware component and software companies developing a technology that will run on a hardware device. The company invests in amounts around $100,000.

Lemnos is operated by Jeremy Conrad, co-founder Helen Zelman and partner Eric Klein. Conrad, Venture was previously in MIT’s Mechanical Engineering Department and the US Air Force, where he was involved in building lasers that blow up missiles.

Lemnos invests in pre-seed and seed startups. The company invests in consumer, enterprise, and high-tech startups such as TEFORIA, spire, Airware, Marble, NIMA, and swift NAVIGATION. It also provides seed investment, mentorship, and encouragement. Exits include Local Motion, Pantry and Sproutling. Notable hardware companies like Fitbit, Square, Oculus and GoPro are some of their successful investments. Exits include Local Motion which sold to Zipcar and Sproutling, a smart monitor for babies, was acquired by Mattel.

Lemnos VC has raised a total of $71.9 million across 3 funds, their latest being Lemnos Labs Fund III. This fund was announced on Mar 7, 2017 and raised a total of $50 million. Lemnos Labs Investment Fund raised $1.9 million in 2013 with Lemnos Labs Fund II raising $20 million in 2014.