The Engine — which is a venture firm founded by MIT in 2016 — announced it has raised $230 million for the second round of funding. And with this funding, the venture firm will start making investments in startups focused on commercializing solutions to some of the world’s most pressing challenges.
MIT had provided $25 million in anchor funding for The Engine’s Fund I — which exceeded the original goal of raising $150 million to close at over $200 million in 2017. And MIT is investing $35 million toward this new round of funding The Engine Fund II.
