In April 2021, RedHawk Ventures invested $25,000 in OROS’s Series Seed financing round in at a $12M pre-money valuation. Since then, the company has pivoted its focus to specialize on its proprietary technology, Solarcore.

Solarcore’s most recent funding round occurred in Q4 2023, with a $22M Series B led by Airbus Ventures, at a $70M pre-money valuation. Additional Series B participation occurred from REI Path Ahead Ventures, Miami alumni and philanthropist Jim Ryan, renowned Andreesen Horowitz tech investor, Jeff Jordan, and prolific government / defense investor, Thomas Tull.

The company, founded as OROS, established its roots in consumer apparel, which was outfitted with its proprietary Solarcore material. The team effectively established product-market fit of Solarcore technology within this use case. Management is now focusing exclusively on scaling the Solarcore business, in use cases not limited to consumer apparel.

Based in Portland, Oregon, Solarcore is on a mission to develop the thinnest and warmest material on the planet. Their core product, Sc_Foam, was derived from NASA's Polymer Aerogel, for which the company holds an exclusive licensing agreement, which offers a significant competitive advantage over competing silica aerogel, as it is much warmer and thinner. The insulation industry is one that has not seen innovation in the past 60 years, and Solarcore is on the precipice of reimagining this space entirely.

At the time of investment, Mad Rabbit focused exclusively on E-Commerce channels, and offered 4 products. Today, they produce 13 products, and have broken into 1,900 Walmart store locations across the United States. They look to expand their brick and mortar presence, while increasing E-Commerce revenue simultaneously.

Michael Markesbery - Miami ‘15, Zoology / Animal Biology

“It is our mission to evolve the science of staying warm, and we are developing an entirely new category of insulation to do just that”

Rithvik Menna - Miami ‘15, Zoology / Animal Biology

“We have the responsibility and material technology to transform the future of the insulation industry”