Funding profile · Clinical AI diagnostics

Biocogniv

One Form D, one announced seed round, $509,630 of federal grants, and an exit to a public electric aircraft company for $15.0 million in stock, cash and holdback. The arithmetic is unusually legible.

$15.00MTotal consideration paid by BETA Technologies, April 2026
$10.74MSold of $11.79M offered, Form D filed Oct 19, 2023
36Investors in that offering, about $298,000 each
$509,630Federal grants on record, NSF and NIH

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2020 Y Combinator, Summer 2020 Not disclosed Y Combinator YC listing
2020 to 2021 Federal grants $509,630 NSF SBIR Phase I; NIH NHLBI R43 NSF, NIH
Mar 2022 Seed, described as rolling $6.0M announced Breyer Capital (lead); Y Combinator, 1984 Ventures, Inflect Health, Promus Ventures, The Fund at Hula; angels John Abele, Sam Palmisano, Myla Lai-Goldman, Leo Grady, Jonathan Hirsch Company release
Oct 2023 Equity offering, Rule 506(b) $11.79M offered; $10.74M sold at filing 36 accredited investors, not named Form D
Apr 2026 Sale of the company, treated as an asset acquisition $15.00M total consideration BETA Technologies, Inc. (NYSE: BETA) SEC 10-Q

What the filings show

Biocogniv Inc. · Form D · filed Oct 19, 2023

First sale
Oct 4, 2023
Offered
$11,793,106 equity
Sold
$10,743,107 · $1,049,999 remaining
Investors
36, all accredited · average about $298,420
Fees
$0 sales commissions, $0 finders fees
Exemption
Rule 506(b)
Related persons
Artur Adib (executive officer, director); Tim Wall (director)
Issuer
Delaware corporation, incorporated 2019, 50 Lakeside Avenue, Burlington, VT
Filing
SEC EDGAR, CIK 0001997960

BETA Technologies, Inc. · Form 10-Q · filed Aug 12, 2026

Period
Quarter ended Jun 30, 2026
Stock
$10,797,000 · 715,587 Class A shares, priced Apr 1, 2026
Cash
$2,561,000 net
Holdback
$1,645,000 for indemnification claims, paid at six and twelve months
Total
$15,003,000, expensed in full as in-process research and development
Transaction costs
$1,144,000, booked to research and development
Accounting
Asset acquisition, not a business combination
Filing
SEC EDGAR, CIK 0001784570

Reading the filings

  1. The checks were institutional, not angel scale.$10,743,107 divided by 36 investors is about $298,420 each. No sales commissions and no finders fees were paid, which is what a founder-run priced round looks like rather than a brokered one.
  2. Ten and a half million dollars booked in fifteen days.The Form D reports a first sale of Oct 4, 2023 and $10,743,107 already sold when it was filed on Oct 19, 2023. Rounds do not fill that fast from a standing start. A single closing that converted earlier notes or safes fits the shape better.
  3. The 2022 seed has no Form D of its own.The company announced $6 million in March 2022, but its SEC identity was not created until 2023 and only one filing exists under it. Issuers relying on Section 4(a)(2) rather than Regulation D file nothing, so the gap is not evidence that no money moved. It does mean the total raised cannot be settled from filings alone.
  4. The exit sits close to the money in.Total consideration of $15,003,000 against $10,743,107 of Form D sales plus a separately announced $6 million seed. If those are two distinct rounds, about $16.7 million went in against $15.0 million out. If the October 2023 filing swept up the 2022 seed, the sale cleared the capital stack by roughly $4.3 million. No public document settles which reading is right.
  5. The buyer paid for the tooling, not the diagnostics.BETA says the purchase was made “to assist in accelerating the design of software development in support of aircraft certification efforts” and expensed the entire $15,003,000 because “the AI platform did not have alternative future use at the time of the acquisition.” That is the accounting treatment for buying a research asset, not a diagnostics business with a regulatory file.
  6. Non-dilutive money was small and pointed elsewhere.$509,630 of grants is under 5 percent of the equity sold on record, and both awards, NSF 2014934 and NIH R43 HL154941, funded a pulmonary embolism blood test. No Phase II followed at either agency and no pulmonary embolism product ever shipped.

Commercial signals

Signal Detail Source type
Regulatory No 510(k), PMA, device registration or recall record in openFDA as of Sep 23, 2026. Breakthrough Device Designation for Sepsis aiMarker announced Apr 2023; FDA publishes no list to check it against. Public record
Clinical evidence One peer-reviewed paper (COVID, JMIR, Dec 2020) and one conference abstract (sepsis, Annals of Emergency Medicine, Oct 2021). Zero registered trials on ClinicalTrials.gov. Public record
Customers UTMB Health, more than 325,000 test interpretations over 13 months, corroborated by Fast Company in Jul 2022. Pilots named at North Country Hospital and San Joaquin Hospital in 2022. Nothing named after that. Independent
Quality system ISO 13485:2016 certified Oct 2023, maintained Jul 2024. Certifying body not named. Company-stated
Headcount Six, per the Y Combinator company listing. Independent
Status Y Combinator lists the company as Acquired. Promus Ventures, a seed investor, states the buyer was BETA Technologies in 2026. biocogniv.com does not resolve as of Sep 23, 2026, though the domain is registered through May 2028. Public record

What to watch

  • BETA’s 10-K for the year ending Dec 31, 2026, and whether the $1,645,000 holdback is paid on schedule.
  • Any assignment or abandonment of the Sepsis aiMarker regulatory file. The in-process research and development treatment implies no plan to finish it.
  • Whether the 2021 sepsis result is ever published as a full paper rather than an abstract.
  • Whether a corrected or amended Form D is ever filed for the 2022 seed. None exists today.

The Biocogniv story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Glass Health: Shared investor: Breyer Capital. An AI tool that reads a one paragraph patient summary and returns a ranked differential diagnosis, now sold alongside an ambient scribe
  • PostEra: Shared investor: Breyer Capital. An AI chemistry company that gave its most famous work away for free
  • Sepsis Scout: Similar focus. A Y Combinator company that put a deep learning sepsis risk score on an off-the-shelf wearable and aimed it at cancer patients recovering at home
  • AgileMD: Similar focus. An early warning score grown out of a decade of University of Chicago research, cleared by the FDA in June 2024 and now running inside the electronic health record at

Sources

  1. Public recordForm D, Biocogniv Inc., CIK 0001997960SEC · Oct 19, 2023
  2. Public recordBETA Technologies, Inc. Form 10-Q, Note 3 and Item 2, quarter ended Jun 30, 2026SEC · Aug 12, 2026
  3. Public recordNSF SBIR Phase I award 2014934National Science Foundation · 2020
  4. Public recordNIH RePORTER 1R43HL154941-01NHLBI · FY2020
  5. Public recordopenFDA device database and ClinicalTrials.gov queries returning no Biocogniv recordsFDA and NLM · Sep 23, 2026
  6. IndependentA Burlington company using AI to predict sepsis faster than hospitals just raised $6 million in seed moneyBurlington Free Press · Mar 31, 2022
  7. IndependentBiocogniv portfolio page, acquisition by BETA Technologies in 2026Promus Ventures · accessed Sep 23, 2026
  8. IndependentBiocogniv company listing, batch Summer 2020, status Acquired, team size sixY Combinator · accessed Sep 23, 2026
  9. IndependentBETA Technologies quarterly filing summary, $15,003,000 in-process research and developmentStock Titan · Aug 12, 2026
  10. CompanyBiocogniv Closes $6M in Seed Funding Led By Breyer CapitalBiocogniv · Mar 16, 2022
  11. CompanyBiocogniv Achieves and Maintains ISO 13485:2016 CertificationBiocogniv · Sep 17, 2024

Compiled from SEC, NSF, NIH and FDA public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Biocogniv or in BETA Technologies. This page is not an offer to sell or a recommendation to buy any security.