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Elve

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Millimeter-wave power amplifiers for next-generation wireless connectivity

Davis, United StatesFounded 2020Semiconductors
Valuation $50–100M Last recorded · 2024
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
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About Elve

Elve Speed, Inc. manufactures high-efficiency, lightweight millimeter-wave (mmWave) power amplifiers designed to enable wireless connectivity that surpasses 5G capabilities. The company leverages advanced materials, additive manufacturing, and automated production processes to revolutionize the construction of vacuum electronic devices, specifically traveling-wave tubes (TWTs). This approach allows for the cost-effective and high-volume production of amplifiers that were traditionally expensive and built by hand.

Founded in 2020 by Dr. Diana Gamzina, Elve was born from the challenge of making powerful amplifier technology affordable for real-world infrastructure. Dr. Gamzina, who serves as the company's CEO, has a background as a staff scientist at the SLAC National Accelerator Laboratory and a development engineer at the UC Davis millimeter-wave research group. The company's CTO is Dr. Rich Kowalczyk, who has extensive experience in the research and development of advanced RF sources. The founding vision was to address the connectivity gap in areas outside of densely populated urban centers by providing fiber-like internet quality over the air.

Elve's core products are mmWave traveling-wave tube amplifiers (TWTAs) that enhance communication for satellite networks and create long-distance ground-to-ground links. By using nanocomposite emitters, Elve's devices achieve higher electron emission efficiency at lower temperatures, which extends their lifespan and improves performance. The company offers a product line of power amplifier systems for various frequency bands, including Ka, Q, V, and E-bands, catering to the rigorous demands of both commercial and defense sectors. The business operates on a direct-to-consumer (D2C) model, serving clients in telecommunications, satellite communications, electronic warfare, and advanced imaging.

Headquartered in Davis, California, Elve became fully operational in its manufacturing facility in 2023. In February 2024, the company announced it had raised $15 million in a Series A funding round to increase its manufacturing capabilities and expand its customer base in the space connectivity market. Key investors include Lockheed Martin Ventures, Green Sands Equity, TomEnterprise Private AB, Yu Galaxy, and Cambium Capital Partners. The company aims to scale production to approximately 2,000 amplifiers per year.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2020
Headquarters
Davis, United States
Employees
49
Open positions
5
Dealroom signal
81.5/100
Industry
Semiconductors
Sector
Semiconductors, Telecommunications, Spinout, NIF defense security and resilience, NIF Security of Critical Technologies, DT and LS, 4YFN 2025, 4YFN, 4YFN 2026, science-based
Technology
Hardware, Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

3 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES A✓Equity / VC Feb 2024 $15M $60M Yu Galaxy · Lockheed Martin Ventures · TomEnterprise AB · Green Sands Equity ↗
OtherOther financing Jan 2023 $0 — Green Sands Equity ↗
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Growth signals

Elve website traffic

Latest recorded traffic for Elve is 4K monthly website visits, up 5.3% over the last three months. Elve's team grew 16.7% over the past year.

Latest monthly visits4K 3-month web change+5.3% 1-year team growth+16.7%
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Similar companies

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

6 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A5 investors entered at this stage

  • Yu Galaxy
  • Lockheed Martin Ventures
  • TomEnterprise AB
  • Green Sands Equity
  • Cambium Capital

Other known investors1 additional known investor

  • Universiry of California, Davis
Team profiled 5 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
1 countries with
team presence
🇺🇸 United States100%
1 country shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Elve on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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