# Ajay Royan

> Ajay Royan is a Series D investor at Mithril Capital Management backing Robotics and Software. See 26 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Mithril Capital Management](https://shizune.co/investors/profile/mithril-capital-management)
- Location: San Francisco, United States
- Total investments: 26
- Last investment: Jun 2026
- Lead investor: 35%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/in/royan

Ajay Royan is a Series D investor at Mithril Capital Management in San Francisco focused on Robotics and Software. Ajay Royan is the Managing General Partner and Founder at Mithril Capital, a firm that makes long-term investments in transformative and durable enterprises. At Mithril, Ajay has led investments in innovative companies across multiple industries, such as robotics, healthcare, enterprise software, bio- technology, nuclear energy, and finance. Heserves on the boards of many of Mithril’s portfolio companies, including Auris, Adimab, C2FO, GreyOrange, Fractyl, and AppDirect, helping them to navigate the rocky road of growth by working with founders on competitive and organizational strategies as well as addressing macro trends. Before forming Mithril, Ajay was a managing director at Clarium Capital Management, where he focused on unlevered growth investments. Ajay began his career at Braxton Associates, formerly Deloitte Consulting.Ajay serves on the Science Advisory Board of the Oak Ridge National Laboratory and was elected to the Presidents’ Circle of the National Academies of Science, Engineering, and Medicine. He is a charter member and board director of C100 and serves on the board of directors of Fulbright Canada.Ajay grew up in India, Abu Dhabi, and Canada. He is a graduate of Yale University.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Robotics | 4 | 15% |
| Software | 4 | 15% |
| Health Care | 4 | 15% |
| Medical Device | 4 | 15% |
| Biotechnology | 3 | 12% |

31 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series D | 6 | 23% |
| Series C | 5 | 19% |
| Series A | 3 | 12% |
| Series B | 3 | 12% |
| Seed | 1 | 4% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 10 | 38% |
| Israel | 1 | 4% |
| Singapore | 1 | 4% |
| United Kingdom | 1 | 4% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Helion Energy | Operator of a patented plasma accelerator technology designed to address the growing need for clean energy. The company's technology specializes in designing fusion generators based on magneto-inertial fusion with a fifty-megawatt module and energy regeneration, thereby enabling customers to use low-cost, clean, and safe energy. | $465M | Series G | Jun 04, 2026 |  |
| Helion Energy | Operator of a patented plasma accelerator technology designed to address the growing need for clean energy. The company's technology specializes in designing fusion generators based on magneto-inertial fusion with a fifty-megawatt module and energy regeneration, thereby enabling customers to use low-cost, clean, and safe energy. | $425M | Series F | Jan 28, 2025 |  |
| GreyOrange | GreyOrange is a global company that modernizes order fulfillment through Artificial Intelligence-driven software and mobile robots built together so they cooperate in deciding on and executing warehouse activities that maximize payoffs and minimize tradeoffs to create the highest yield. The company’s always-solving fulfillment operating systemGreyMatter considers predictive and real time data regarding orders, promises, inventory, shipping windows, and resources to orchestrate how workers and robots work together to fulfill the right orders at the right time. GreyOrange experts help organizations master fulfillment in the Age of Immediacy so they keep promises, capture more revenue, and improve the work experience for warehouse employees. GreyOrange has core operations in the United States, Singapore, Germany, Japan and India. | $135M | Series D | Dec 20, 2023 |  |
| Neocis | Neocis develops robot-assisted dental implant surgery with the aim of transforming dental surgery using advanced robotics. The company is the developer and manufacturer of Yomi, a robotic device for dental surgery commercially available in the USA and was cleared by the U.S. Food and Drug Administration. The company created Yomi aiming to focuson enhancing dental surgeons’ capabilities and advancing patient care through the latest technology. Neocis operates with dental surgeons to understand the needs with the focus on overcoming surgical and treatment challenges. Neocis was founded in 2009 and is headquartered in Miami, Florida. | $40M | Series D | Oct 27, 2022 |  |
| Genetesis | Genetesis is a rapidly growing medical technology company redefining the way patients with a risk of myocardial ischemia and coronary artery disease are clinically diagnosed, monitored and screened. | $17.5M | Series C | Oct 06, 2022 |  |
| ForSight Robotics | ForSight Robotics develops a surgical robotic platform to deliver high precision and cost-effective vision-saving surgery. | $55M | Series A | Jul 18, 2022 |  |
| GreyOrange | GreyOrange is a global company that modernizes order fulfillment through Artificial Intelligence-driven software and mobile robots built together so they cooperate in deciding on and executing warehouse activities that maximize payoffs and minimize tradeoffs to create the highest yield. The company’s always-solving fulfillment operating systemGreyMatter considers predictive and real time data regarding orders, promises, inventory, shipping windows, and resources to orchestrate how workers and robots work together to fulfill the right orders at the right time. GreyOrange experts help organizations master fulfillment in the Age of Immediacy so they keep promises, capture more revenue, and improve the work experience for warehouse employees. GreyOrange has core operations in the United States, Singapore, Germany, Japan and India. | $110M | Venture - Series Unknown | May 17, 2022 |  |
| Ankyra | Ankyra is developing a platform to significantly improve both the safety and efficacy of cytokine immunotherapies for cancer. | $45M | Series B | Nov 12, 2021 |  |
| Generation Home | Generation Home is a new mortgage lender dedicated to making homeownership work better for everyone. | $30.4M | Series A | Jun 15, 2021 |  |
| Paxos | Paxos is a regulated financial institution building infrastructure to enable movement between physical and digital assets.The company takes a two-pronged approach of establishing regulatory designations that give it access to the current financial infrastructure and the ability to develop innovative products. This allows Paxos to operate as agateway between traditional finance and the digital future. Paxos was founded in 2012 and headquartered in New York, United States. | $300M | Series D | Apr 29, 2021 |  |

10 of 26 investments shown.

## Co-investors
- [SoftBank Vision Fund](https://shizune.co/investors/profile/softbank-vision-fund) — VC Fund, 6 deals together
- [Lightspeed Venture Partners](https://shizune.co/investors/profile/lightspeed-venture-partners) — VC Fund, 5 deals together
- [Declaration Partners](https://shizune.co/investors/profile/declaration-partners) — VC Fund, 4 deals together
- [Google Ventures](https://shizune.co/investors/profile/google-ventures) — VC Fund, 4 deals together
- [Lux Capital](https://shizune.co/investors/profile/lux-capital) — VC Fund, 4 deals together
- [Polaris Partners](https://shizune.co/investors/profile/polaris-partners) — VC Fund, 4 deals together

## About Mithril Capital Management

VC Fund · San Francisco, United States

Mithril is a family of long-term venture capital funds agnostic to sector and geography. They provide capital to leading growth companies by partnering with teams who use technology to build transformative and durable businesses.

4 contacts available at Mithril Capital Management.

| Name | Title | Profile |
| --- | --- | --- |
| Anuja Royan | Managing Director | https://shizune.co/investors/profile/anuja-royan |
| Paul Leggett | Managing Director | https://shizune.co/investors/profile/paul-leggett |
| Ajay Royan | Founder & Managing General Partner | https://shizune.co/investors/profile/ajay-gopal-royan |
| Peter Thiel | Co-Founder | https://shizune.co/investors/profile/peter-thiel |

## Similar investors

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- [EDBI](https://shizune.co/investors/profile/edbi) — VC Fund
- [Trifecta Capital Advisors](https://shizune.co/investors/profile/trifecta-capital-advisors) — VC Fund

## FAQ

### What does Ajay Royan invest in?

Ajay Royan invests primarily in Robotics, Software and Health Care startups, most often at Series D and Series C stage. Most of the 26 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Ajay Royan last invest?

The most recent investment recorded for Ajay Royan closed in Jun 2026. Shizune tracks 26 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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