Construct Capital

@AetherfluxUSA is taking AI compute to orbit. This week: Capitol Hill conversations + NVIDIA partnership to deploy next-gen AI infrastructure in space. Orbital compute bypasses grid constraints—and it’s coming faster than most expect. This is the Modern Reindustrialization Era, extending beyond Earth.

gm today we're launching a factory @HadrianInc

Aetherflux is taking AI compute to orbit with @nvidia to launch the new era of space innovation. This includes bringing the NVIDIA Space-1 Vera Rubin Module, IGX Thor, and Jetson Orin to space, powering geospatial intelligence and autonomous space operations for next-generation space missions. We are deploying advanced satellite constellations designed to act as high-performance hubs for AI compute in orbit.

BackOps just announced a $26M Series A led by @TheoryVC. We led the Seed because we believed in the thesis early: Supply chains don’t need another dashboard. They need software that actually does the work. @Backopsai is building the world’s first AI-native operating system for supply chain, automating the endless operational tasks that slow logistics teams down. The results are already real: • 35–60% daily time savings for operators • Inquiry response times cut from 30 minutes → under 2 • 100% of eligible carrier claims automatically filed Excited to continue backing the team alongside Theory, Gradient, and 10VC. Big things ahead. axios.com/pro/supply-cha…

Modern conflicts are decided in the air. Swarm Aero is building a radically effective way to scale air power. We're proud to share that we've raised $35 million in Series A funding, led by @TwoSigmaVC and @SilentVentures and joined by our seed investors @khoslaventures, @ScribbleVC, @friendsfamcap, @constructcap, @coatuemgmt, @foundersfund, @alumniventures, and @MaCVentureCap! This brings total capital raised to $59M to accelerate the deployment of our large UAV and the swarm software that enables drones to be controlled at scale. While smaller drones pack smaller punches and require assistance to get to the fight, our large, multimission UAV can cover long distances and defeat high-value targets. Designed to manufacture at unprecedented volume and cooperate with superhuman dexterity, our UAV achieves asymmetric impact at dramatically lower cost than traditional aircraft. The future world order depends on who controls air power. Swarm is building the technologies needed for deterrence and dominance in the 21st century. And we’re hiring! Read more in @axios' Future of Defense exclusive on the raise (thank you @demarest_colin!) and our press release: axios.com/2026/03/11/swa… businesswire.com/news/home/2026…

@SwarmAero is out of stealth with a $35M Series A. We led the Seed because we believed in the thesis early: Air defense must shift from scarce + exquisite to scalable + software-defined. Swarm is building: • Large, multimission UAVs • High-rate composite manufacturing • Legion — software enabling many-to-one operator control Rebuilding American resilience requires software-native systems, modern production techniques, and teams willing to rethink first principles; Swarm represents exactly that. Proud to continue backing the team here. axios.com/2026/03/11/swa…

Recently on @tbpn

Happy Tuesday. On today's show: - @kris (Crypto & AI dot com) - @vincenzolandino (Business of Speed) - @ethanrthornton (Mach Industries) - @c_valenzuelab (Runway) - @bradsvrluga (Primary) - @daynagrayson (Construct Capital) - @ashleevance (Core Memory) See you on the stream.

Catch @daynagrayson on today’s TBPN podcast breaking down why Foundational Industries are one of the biggest opportunities of the next decade. Tune in live @tbpn (Dayna on at 1:50pm PT / 4:50pm ET) 👇 x.com/i/broadcasts/1…

We’re thrilled to share that @CamilaSaruhashi has been promoted to Partner at Construct Capital. Camila has had a meaningful impact across the firm and with the founders she partners with. Having built and scaled companies herself, she brings deep empathy for entrepreneurs and lives Construct’s values every day—pairing thoughtful judgment with rigorous analytical depth as we continue to scale our funds, portfolio, and collaboration with founders transforming Foundational Industries. Congratulations, Camila! constructcap.com/articles/camil…

Catch Construct Capital Co-Founder & Managing Partner @RachelJHolt at @ManifestFOL Vegas moderating a panel on Redefining What’s Possible in Supply Chain Visibility on Tuesday, February 10th at 10:20am. She’ll be joined by executives and founders from across the value chain, including Joyce Crute (@Acer), Mathew Elenjickal (@FourKites), Owen Nicholson (@SlamcoreLtd), and @davezingery (@MidmoAi). Together, they’ll explore what supply chain visibility actually looks like in practice today, what’s still missing to unlock true automation, the role of autonomous AI agents, where real cost savings will come from—and the hard realities of implementing software in the physical world.

@daynagrayson will be speaking tomorrow at the 2026 Women’s Venture Capital Summit alongside Cindy Cheng, Beth Ferreira, and Larissa Cespedes-Yaffar. As markets evolve and capital becomes more disciplined, venture firms are rethinking how macro forces, liquidity, and risk shape growth investing. The reset hasn’t been uniform. While sectors like traditional SaaS have faced heightened selectivity, others have seen boom-time dynamics. Today’s market is deeply sector-specific, making focus more important than ever. Within the areas we focus on at Construct—Foundational Industries of the economy—AI, industrials, and critical infrastructure are commanding our full attention. We’re looking forward to exchanging more of these insights at #WVCS2026.

Thanks for the inclusion, @JamesBarlia

A meaningful milestone for @railsimplified as we start the year. Purpose-built software for critical rail infrastructure like this is key to strengthening industrial supply chains. Looking forward to what this collaboration with @AITXinc enables for rail shippers in 2026. telegraph.io/aitx-partners-…

We’re honored to have supported you from the earliest days and to double down as you work to reindustrialize America.

This is exactly the kind of systems-level reinvention we believe defines the next era of industrial leadership, where software, hardware, and operations come together to rebuild core economic infrastructure. As demand for domestic manufacturing accelerates, Hadrian is uniquely positioned to capture this moment.

We’re proud to share that @HadrianInc has raised additional capital at a $1.6B valuation, led by T. Rowe Price, with continued participation from Construct.