Stealth Startup Spy #216
Ex-Shepherd CEO (bootstrapped & sold for $52M) starts new venture, NASA alum debuts performance meal bar inspired by deep-space research, & Web3 startup secures $11M to futureproof blockchain infra
🚨Here’s the deal🚨This email has gotten too big. Exciting, but with more people following it, the edge diminishes. I’ve thought long and hard about what to do to preserve the value in the signals. I’m not sure about the final direction yet, but in the meantime I’ve been sending an email 48 hours earlier to a select group of paid subscribers. The feedback has been pretty positive so I’m going to open up the list for another 100 spots. To get signals early, Apply here!
In this issue of the Stealth Startup Spy, here is what we will uncover:
With $425K in revenue and 16+ major partners, ex-Kettle & Bridger Properties execs are raising a seed round to reshape commercial HVAC insurance.
Ex-Amber Group & KeeperDAO leader raises $11M from Founders Fund & Pantera to build a VM-agnostic execution layer for blockchain scalability.
Ex-Shepherd CEO (bootstrapped & sold for $52M) starts new venture
Former NASA food system manager introduces a high-performance meal bar designed for first responders, adventurers, and extreme conditions.
Ex-Nike, Google X & Microsoft AI Leader emabarks on stealth venture
And more…
Now let’s shine the spotlight… 💡💡💡
🕵️♂️Founders Coming Out of Stealth
Real-time updates from founders who debut what they’ve been working on under stealth mode
Charlie Banks - Founder & CEO at Airlast
Prior Experience: Ex-Senior Vice President at Bridger Properties, Ex-Senior Associate at Stream Realty Partners (10 years of real estate experience).
Airlast is an innovative full-service commercial HVAC insurance company that is reshaping the landscape of property management and tenant satisfaction.
HQ: Atlanta, Georgia, United States
Industry: Real Estate | Team Size: 7
Key Team Members: Andrew Engler (Co-Founder and CEO at Kettle ($30M raised), Co-founder at Airlast, ex-VP, Digital Product and Machine Learning at Argo Group, ex-Head of Commercial Operations at Allstate)
Time Spent in Stealth Mode: 11 months
Traction Under Stealth: Currently raising seed after finding product market fit: $425K in rev last year with ARR growing, already added $200K YTD. 16+ major commercial real estate partners in the pipeline.
Eyal Gurion - Founder & CEO at Popai Health
FounderDNA: Masters Degree, Top 10 University
Prior Experience: Ex-National Vice President of Care Transformation at Elevance Health, ex-Chief Operating Officer at Integrated Healthcare Association, ex-Strategy Consultant at University of California, Berkeley
Connect on: LinkedIn
Popai unlocks critical insights from care coordination calls.
HQ: San Francisco, California, United States
Industry: Hospitals and Health Care | Team Size: 7
Time Spent in Stealth Mode: 9 months
Ryan Dowdy - Founder & CEO at READYBAR
FounderDNA: Technical Founder, Doctorate Degree, Masters Degree
Prior Experience: Ex-Chief of Staff to CTO at EVERY™, ex-Science & Technology Analysis Manager at The Good Food Institute, ex-ISS Food System Manager at NASA
Connect on: LinkedIn
READYBAR is a high-performance meal bar engineered for first responders, adventurers, and high-performance lifestyles.
HQ: Oakland, California, United States
Industry: Food and Beverage Manufacturing
Time Spent in Stealth Mode: 12 months
Annabelle Huang - Co-Founder & CEO at Altius
Prior Experience: Venture Partner at Amber Group, ex-Founding Member at KeeperDAO, ex-Growth at AirSwap, ex-FX & Rates Risk Advisory at Nomura, ex-Deutsche Bank
Altius is developing VM-agnostic, high-performance execution layers compatible with any chains to futureproof blockchain infrastructure.
HQ: New York, New York, United States
Industry: Blockchain Services | Team Size: 3
Latest Funding: $11M Pre-Seed Round on 2/18/2025
Key Investors: Founders Fund, Pantera Capital, Archetype Reforge, DCG, No Limit Holdings and Amber Group
Time Spent in Stealth Mode: 6 months
Tim Wenzlau - Co-Founder & CEO at Spacewalk AI
FounderDNA: Technical Founder, Top 10 University
Prior Experience: Ex-Principal Product Manager at Obsidian Security, ex-Senior Product Manager at Mandiant, ex-Product at Respond Software
Connect on: LinkedIn
Spacewalk is a cybersecurity startup in stealth mode.
HQ: New York, United States
Industry: Software Development | Team Size: 8
Co-Founders: Chris Fuller (PhD in Astrophysics, ex-Obsidian Security) , David Elston (Ex-Director of Engineering at Obsidian Security)
Time Spent in Stealth Mode: 3 months
🕵️♂️Key Talent Going Under Stealth
Illuminating clues left behind by world class talent and influential innovators who just went into stealth mode
Marshall Haas - Founder at Stealth Startup
FounderDNA: Serial Founder,
Prior Experience: Co-Founder & ex-CEO at Shepherd (bootstrapped and sold in 4 years for $52M)
HQ: United States
Time Spent in Stealth Mode: 1 month
Harry Uglow - Co-Founder at Stealth
Building a new venture in the recruitment industry. (Dex)
FounderDNA: Technical Founder, Masters Degree
Prior Experience: Ex-Head of Product & Engineering at Kinscape, ex-Senior Software Engineet at Atomico
Connect on: LinkedIn
Co-Founder: Paddy Lambros (Ex-Talent Director at Atomico)
HQ: London, England, United Kingdom
Time Spent in Stealth Mode: 1 month
Ido Safruti - Co-Founder at Stealth
FounderDNA: Serial Founder, Technical Founder, Masters Degree
Prior Experience: Ex-CTO at HUMAN, ex-Co-founder and CTO at PerimeterX, ex-Senior Director Product Management at Akamai Technologies
Connect on: LinkedIn
HQ: United States
Time Spent in Stealth Mode: 5 months
Tobias Kinnebrew - Co-Founder at Stealth
FounderDNA: Serial Founder, Technical Founder, Former FAANG
Prior Experience: Ex-Senior Director Innovation Engineering at Nike, ex-Founder & CEO at O Inc. (AI & Robotics), ex-Head of Strategy for Robotics & AI at Google Robotics & Google X, ex-Principal Director of Design, HoloLens at Microsoft
Connect on: LinkedIn
HQ: United States
Time Spent in Stealth Mode: 7 months
Artem Kalugin - Co-Founder & CEO at Stealth AI Startup
Building the next-gen shopping experience for DTC brands
FounderDNA: Serial Founder, Technical Founder, Doctorate Degree, Former FAANG, Top 10 University
Prior Experience: Ex-Global Account Executive, Technology at Google, ex-Fractional CMO at SalesLens, ex-Co-Founder at Curious Muse, Stanford alum
Connect on: LinkedIn
HQ: London Area, United Kingdom
Time Spent in Stealth Mode: 1 month
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Stay Stealthy,
Drake
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Stealth Startup Spy is a data-driven newsletter for investors, journalists and tech enthusiasts interested in uncovering the next big move for key talent, real-time stealth company launches and technology advancements not in plain sight. We leverage the technology built at Gravity to shine a light on the hidden world of stealth startups.