Physical AI · Private Markets

Capital for the
embodied economy.

Luminara Capital is a multi-strategy private-markets firm investingexclusively in Physical AI — the models, machines, and infrastructure bringing intelligence into the physical world. One frontier, seed to growth, from first check to scale.

Get in touchOur focus

The Firm

One conviction: intelligence is moving into the physical world.

Luminara Capital is a multi-strategy private markets firm dedicated entirely to Physical AI. We invest across the lifecycle of a company — seed, venture, and growth — with the flexibility to lead early and keep backing our founders as they scale.

We pair the speed and founder-empathy of venture with the rigor and patience of growth capital. Every dollar we manage is concentrated on a single frontier — the embodied economy: the models, machines, and infrastructure that let software perceive, reason, and act in the real world.

What We Invest In

The Physical AI stack — end to end.

We invest across four layers of the embodied economy — from the models that reason to the machines that move.

01

Embodied Foundation Models

Models that perceive, reason, and act — robot learning, world models, and vision-language-action systems that turn raw sensory data into physical behavior.

02

Robotics & Autonomy

Humanoids, mobile manipulation, and autonomous machines reshaping logistics, manufacturing, construction, agriculture, and the field.

03

Sensing & Perception

Sensors, spatial intelligence, and real-time perception stacks that give machines a reliable, high-fidelity understanding of their surroundings.

04

AI Infrastructure & Compute

The silicon, simulation, data engines, and developer tooling that make training and deploying physical intelligence possible at scale.

2023
Founded
$250M
Committed Capital
20+
Portfolio Companies
Seed–Growth
Investment Stages

Figures as of Q2 2026.

Our Approach

How we partner.

A multi-strategy mandate lets us meet founders where they are — and stay with them as they scale. Four principles shape every investment.

  1. 01

    Source at the frontier

    We live in the labs and workshops where Physical AI is being built — tracking the researchers, operators, and founders working at the edge of robotics, models, and hardware long before a round comes together.

  2. 02

    Underwrite the hard tech

    We invest where hardware, models, and physics meet. Our team does the engineering work to understand what is real, what is genuinely hard, and what is defensible — not just what pitches well.

  3. 03

    Build alongside founders

    Capital is the beginning. We roll up our sleeves on recruiting, go-to-market, manufacturing, and the follow-on rounds that turn breakthroughs into durable companies.

  4. 04

    Compound across seed to growth

    A multi-strategy mandate lets us keep backing our companies round after round. One relationship, structured for the long arc it takes to build machines that last.

Portfolio

Select investments, across the stack.

We partner with the teams building the physical AI stack — organized by the same four layers we invest across, from the models to the machines that run on them.

Embodied Foundation Models
Series A

Helix Intelligence

Embodied foundation models for dexterous manipulation

Growth

Vanta Systems

World models for advanced manufacturing

Robotics & Autonomy
Seed

Axiom Robotics

General-purpose humanoids for warehouse work

Series B

Meridian Autonomy

Autonomous machines for the field

Sensing & Perception
Seed

Tessellate

Spatial perception & 3D sensing

AI Infrastructure & Compute
Series A

Forge Labs

Simulation & robot-learning infrastructure

Companies shown are illustrative placeholders representing our areas of focus, not current holdings.

Team

Investors who have built.

A small, senior partnership of operators, engineers, and scientists — all focused on a single frontier. More people who have shipped robots than closed funds.

Partner Name

Founding & Managing Partner

Two decades investing in and operating deep-tech companies across robotics and AI.

Partner Name

Partner, Investments

Former founder and research engineer; leads diligence on models and autonomy.

Partner Name

Partner, Platform

Builds the recruiting, go-to-market, and manufacturing support behind our companies.

Team details are placeholders — replace with real partner names, titles, photos, and bios.

Contact

Building in Physical AI?

Whether you are a founder raising capital or an investor exploring the space, we would love to hear from you. We read every message.