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Eva has raised $5.2M across 2 funding rounds.
Key people at Eva.
Eva has raised $5.2M in total across 2 funding rounds.
Eva is an artificial intelligence hardware company operating across Boston, Dallas, Chicago, and the European Union that develops advanced computing technologies to reduce the costs of AI workloads. The organization builds a comprehensive technology stack ranging from atomic-scale physics to novel neural network topologies, utilizing its proprietary Proton Gated Transistor architecture to enhance processing efficiency. This specialized infrastructure is designed to facilitate high-performance computing advancements in complex fields such as medical superintelligence, materials discovery, climate modeling, and autonomous agriculture. To support its hardware development, the firm maintains an advisory board featuring industry veterans like Tunç Doluca and Mike Noonen. The enterprise is also backed by executives from major technology corporations including Microsoft, Apple, Amazon, NVIDIA, and TSMC. Eva was established in September 2023 by a leadership team that includes Proton Gated Transistor inventor Murat Onen.
Eva has raised $5.2M in total across 2 funding rounds.
Eva's investors include Blackhorn Ventures, BP Ventures, Congruent Ventures, Union Square Ventures, Abstract Ventures, Stuart Peterson, Astanor Ventures, Founders' Co-op, Liquid 2 Ventures, Sound Ventures, Texas Halo Fund, Darrell Cavens.
Key people at Eva.
Eva has raised $5.2M across 2 funding rounds. Most recently, it raised $150K Seed in December 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2019 | $150K Seed | — | Blackhorn Ventures, BP Ventures, Congruent Ventures, Union Square Ventures | Announced |
| Oct 1, 2018 | $5M Series U | — | Abstract Ventures, Stuart Peterson, Astanor Ventures, Founders' Co OP, Liquid 2 Ventures, Sound Ventures, Texas Halo Fund, Darrell Cavens | Announced |
ISS EVA is a financial analytics platform developed by Institutional Shareholder Services (ISS) that measures, analyzes, projects, values, and discounts a firm's underlying economic profit (EVA) rather than traditional accounting profit, covering over 21,000–28,000 public companies globally with two decades of historical data.[2][3] It serves institutional investors, asset managers, and hedge funds by providing tools like PRVit (a stock ranking model) and CPI (Corporate Performance Index) to inform investment decisions through a consistent, transparent framework that cuts through accounting distortions and accounts for the full cost of capital.[2][3] As part of ISS's analytics suite, it emphasizes superior performance metrics for quality, value, and growth opportunities, enabling portfolio analysis, risk assessment, and alpha generation.[2][3]
This distinguishes it from conventional profit measures like EPS or ROI by focusing on Economic Value Added (EVA)—defined as sales minus operating costs (net operating profit after tax) minus capital costs (cost of capital percentage times net business assets)—driving informed, style-agnostic investing.[2][5]
ISS EVA originated from EVA Dimensions, which ISS acquired in February 2018, rebranding the products under the ISS-EVA name while integrating them into its broader governance and analytics offerings.[3] The core EVA framework was pioneered by Stern Value Management, creators of the EVA metric, which measures a company's after-tax operational profit minus the full cost of all capital (debt and equity) to assess true wealth creation or destruction.[5] ISS itself was founded in 1985 as a leader in corporate governance solutions, expanding into responsible investment data and tools.[3]
EVA's evolution reflects a shift from dollar-based profit measures to advanced ratio-based frameworks ("Best practice EVA"), with ISS-EVA enhancing this through global coverage and statistical comparisons across thousands of stocks for robust valuation models like PRVit.[2][3]
ISS EVA rides the trend toward quantitative, data-driven investing amid rising demand for transparent performance metrics in a complex global market distorted by accounting practices and varying capital costs.[2][3][5] Its timing aligns with the growth of institutional analytics post-2018 ISS acquisition, capitalizing on big data and AI for scalable stock screening over manual analysis, influencing the ecosystem by standardizing EVA as a benchmark for value management in public companies.[3][5]
Market forces like regulatory scrutiny on governance, ESG integration, and the need for alpha in volatile markets favor its framework, as it empowers funds to drill down to business units or projects, fostering better decision-making and shareholder value worldwide.[2][5]
ISS EVA is poised to expand within ISS's analytics suite, potentially incorporating AI enhancements for real-time projections and deeper ESG-EVA hybrids amid growing demand for holistic risk-adjusted metrics.[2][3] Trends like sustainable investing and automated portfolio optimization will shape its trajectory, evolving its influence from core valuation to predictive tools that redefine institutional decision-making. This positions it as a enduring standard, tying back to its mission of piercing accounting noise for genuine economic insight.
