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☆ Exclusive: Biodiversity startup Dendra Systems has secured a $15.7 million Series B
▼ + stars: | 2024-05-08 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

British biodiversity startup Dendra Systems announced Wednesday it has raised a $15.76 million Series B, as investors continue to pour capital into climate tech. The $15.76 million Series B round was led by Zouk Capital, a London-based private equity firm that has previously backed climate-tech companies such as Green Hedge and Orb Energy. Dendra Systems previously raised $10 million Series A in 2020 from At One Ventures, Airbus Ventures, Future Positive Capital, Chris Sacca's Lowercarbon Capital, and others. Climate tech proved to be more resilient than other sectors in a cool market in 2023, with European climate tech startups bucking the trend in declining investment and raising a collective $20 billion. Dendra Systems is among the first batch of European climate startups to get VC backing.

Persons: Susan Graham, Graham, Chris Sacca's Organizations: Systems, Zouk, Orb Energy, Aramco Ventures, Airbus Ventures, Understorey, Business, Tech News, Dendra, One Ventures, Positive, Natural Capital Research Locations: London, Rio Tinto, North America

☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ Electrification could overwhelm energy grids. Startups are betting on AI to make sure that doesn't happen
▼ + stars: | 2024-03-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

Today's energy grids are unable to keep up with the intense demand being heaped upon them. Globally, energy projects struggle to overcome permitting hurdles. Making smart grids a realityData was transmitted across a national energy grid for the first time in 2016. Startups selling them are hoping to alleviate pressure from physical grid infrastructure and allow operators to do more with the infrastructure they have. Victoria McIvor, an advisor to energy startups who was formerly an investor at the European climatetech firm World Fund, imagines a future where energy tariffs dictate when energy-intensive appliances run.

Persons: Rajesh Swaminathan, it's, Andrés Dancausa, Dancausa, Swaminathan, Victoria McIvor, Timothy Barat, Barat, Duncan Turner, SOSV, Turner, McIvor Organizations: Infrastructure, Service, International Energy Agency, Paris, Investors, Khosla Ventures, US Department of Energy, Fund, Octopus Energy, Continuum Industries, Software Locations: Europe, Ukraine, Portuguese, Amsterdam, California, London, VCs, Scottish

☆ Climate and infrastructure startups are leaning into modularity — and investors are paying attention
▼ + stars: | 2024-03-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

The lines between climate tech and infrastructure startups have become increasingly blurred. Investments in infrastructure startups over time. Permitting remains a massive roadblock for climate projects and modularity can be one way to "get around some of those hurdles," added Ben Wolkon, partner at MUUS Climate Partners. Modular tech can also be distributed and containerized, with some startups hoping to roll out with partners on-site. It's not just industrial startups that are going modular and distributed — it encompasses carbon capture, water filtration, food systems, and energy, said Regeneration.VC's Hoffman.

Persons: Katie Hoffman, Mike Schroepfer, Seonghoon Woo, Tim Boeltken, Sierra Peterson, Ben Wolkon, It's, Regeneration.VC's Hoffman Organizations: Business, Venture, Investments, Facebook, Gigascale, MUUS Climate Partners Locations: Paris, New York

☆ Agtech valuations were crushed in 2023. But food security concerns will keep it on the agenda.
▼ + stars: | 2024-03-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

The Agtech Unicorn Index, which tracks venture-backed startups in the sector worth over $1 billion, recorded a 20% decline in 2023, according to the Morningstar Unicorn Market Monitor Q4 2023 update. Advertisement"There are more software companies that have sprouted over the past decade, but it traditionally requires fairly technical knowledge about plants and biology." London’s vertical farming unicorn InFarm also struggled and shuttered in Europe . Indeed, PitchBook’s Frederick anticipates agtech will outperform the broader VC ecosystem in the near term due to issues around food security, per PitchBook’s Agtech Q4 2023 report. More broadly, the number of companies hitting unicorn status was at its lowest level since 2017, with 81 new unicorns entering the Morningstar PitchBook Global Unicorn Index in 2023.

Persons: —, Alex Frederick, Frederick, Po Bronson, Bronson, PitchBook’s Frederick, agtech, ” Frederick Organizations: Service, Business, Morningstar, US, Farmers Business Network Locations: cybersecurity, Europe, Ukraine, India, California, Spain

☆ Gridcog wants to make planning commercial renewable projects easier. Check out the 13-slide pitch deck it used to raise $4.2 million.
▼ + stars: | 2024-03-04 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewA startup helping Shell, Origin Energy, and Mitie spin up renewable energy projects has just raised £3.3 million, around $4.2 million, in funding from London-based AlbionVC. Gridcog, founded in 2020 in Australia but now headquartered in London, has built a software platform for modeling and simulating renewable energy projects. It helps customers figure out where best to put solar, energy storage, and EVs, and optimize those plans for commercial and climate goals. "With energy projects, there can be hundreds or even thousands of ways of building them," said Gridcog's UK and European head Genna Boyle. Renewable energy capacity needs to double to reach net zero in the energy sector by 2050, per the International Energy Agency.

Persons: —, Genna Boyle, you've, Boyle, Gridcog, Pete Tickler, Fabian Le Gay Brereton, Tickler Organizations: Service, Shell, Origin Energy, Business, International Energy Agency, Power, Energy, Mitsubishi Heavy Industries Locations: London, Australia, New Zealand

Energy startup Axle is in talks to raise a round backed by VC fund Accel, BI understands. The year-old company could raise around $6 million in capital as part of the deal, sources say. The energy tech startup uses electric vehicles and home energy assets to help balance grids. Energy software startup Axle Energy is in talks to raise fresh funding in a round backed by venture capital fund Accel, Business Insider understands. The London-based company, founded in 2023, connects electric vehicles and batteries to energy grids to help solve the intermittency of renewables.

Organizations: Energy, Accel, BI, Business Locations: London, Europe

☆ The Wild West carbon credit era might be coming to an end as sales hit record high
▼ + stars: | 2024-02-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Carbon credits have been through a tough time. But since then, the voluntary carbon market (VCM), where carbon credits are traded, has faced intense criticism for the actual emission reduction the credits provided. "So, definitely, it was a bumpy ride," said Allister Furey, cofounder and CEO of carbon credit rating and data provider Sylvera. In a vote of confidence from venture capitalists, January also saw carbon credit insurer CarbonPool secure $12 million, carbon credit investment platform Cultivo raise $14 million, and carbon project developers platform BlueLayer come out of stealth with $10 million. In all, it signals the start to the end of the carbon credit "wild west," Sylvera's Furey said.

Persons: couldn't, Verra's, Allister Furey, issuances, Mark Kenber, Sylvera's Furey, Lubomila Jordanava, Nathan Bonnisseau, Lubomila Jordanova, Magnus Drewelies, Ben Rubin Organizations: Business, Guardian, BI, Sylvera, Carbon Business

☆ AtmosZero wants to decarbonize industrial steam. Check out the 14-slide pitch deck it used to raise $21 million.
▼ + stars: | 2024-02-20 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewA startup that wants to help decarbonize industrial steam has raised $21 million in a Series A round. Colorado-based AtmosZero, launched in 2022, has developed a drop-in replacement for fossil fuel boilers that are used to produce steam. Steam is used in a variety of industrial processes, from beer to papermaking, and in district heating. Most steam applications need temperatures of between 100 degrees Celsius to 225 degrees Celsius, Salvi said. AtmosZero's first product can achieve 165 degrees Celsius, with the company eyeing 200 degrees Celsius in the coming years.

Persons: —, Ashwin Salvi, we're, Salvi, There's, AtmosZero Organizations: Service, Business, New Belgium Brewing Company, US, Ventures, Constellation Technology Ventures, Constellation Energy, Energy Impact Partners, Starlight Ventures, US Department of, Decarbonization Locations: Colorado, Europe, Amsterdam

☆ A carbon sequestration company and solar software startup recently raised a combined $7 million. Check out the two pitch decks they used to secure the cash.
▼ + stars: | 2024-02-09 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Two British climate tech companies have raised a collective £5.5 million, around $7 million, in early-stage funding to sequester CO2 in concrete and digitize solar management in real estate. A mineralization process occurs when it is mixed with concrete, storing the CO2 permanently. The startup's end-to-end AI-driven platform helps real estate owners assess, install, and monetize solar energy, tackling traditionally complex and manual processes. The pre-Seed funding, from Octopus Ventures and impact investor Aenu, will be used to roll out the product. Check out the 11-slide pitch deck below:Metris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris EnergyMetris Energy

Persons: Dalraj Nijjar, Nijjar, Natasha Jones, William Whatley, Metris, Jones Organizations: Business, Zacua Ventures, Siam Cement Group, Metris Energy, Energy, Octopus Ventures, Energy Metris Energy Locations: Nottingham, London, Paris

☆ Jobs and geopolitical threats will keep climate tech in spotlight even if Biden is voted out, insiders say
▼ + stars: | 2024-02-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

Read previewPresident Biden has won quite a few fans in the climate tech sector during this time in office. Legislation, including the IRA, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, has unlocked enormous amounts of capital that bolsters climate tech innovation and adoption. The Swiss company would have expanded Stateside eventually, but such policies helped it pick up pace, said Andrew Fishbein, Climeworks' senior policy manager in the US. For example, Regeneration VC doesn't factor subsidies into its investment decisions or portfolio companies' financial projections. Advertisement"Who knows, maybe 2024 is going to be a banner year for climate tech," he said.

Persons: —, Biden, Sierra Peterson, Anna, Alexia Basile, Katie Hoffman, Hoffman, Climeworks, Andrew Fishbein, We're, Kevin Stevens, Trump, VC's Hoffman, Energize Capital's Stevens, Ben Wolkon Organizations: Service, Business, Voyager Ventures, Infrastructure Law, Regeneration, Battery, Trump, Future, Department of Energy, Energize Capital, MUUS Climate Partners Locations: Paris, Nevada , Arizona, Louisiana, North Dakota, California, Swiss, Washington

☆ Voyager Ventures backs climate tech startups. It just raised its second $100 million fund.
▼ + stars: | 2024-02-07 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewClimate tech VC firm Voyager Ventures has raised another fund hot on the heels of its first, bringing its assets under management to $200 million. The new fund can invest alongside or after Voyager Fund I and independently where it has developed competitive access. AdvertisementThe fund hit final close in May 2023, which was previously undisclosed, just 15 months after closing its first fund. It is also eyeing the second edition of the earlier-stage Voyager Fund, which Peterson and Sclarsic will start raising this year. Voyager Ventures currently has 19 portfolio companies across the two funds.

Persons: —, Sierra Peterson, Sarah Sclarsic, Peterson, Sclarsic Organizations: Service, Voyager Ventures, Business, Voyager, Northwestern University, Novo Holdings Locations: San Francisco and New York, North America, Europe

☆ VCs need to return cash to their investors. The secondary market is coming alive as a result.
▼ + stars: | 2024-02-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Venture capitalists need to free up cash and return money to their own investors, known as limited partners (LPs). The secondary share sales market in the US is well established. Bad timingMost VC funds agree to return their profits to their LPs within 10 years. A record 31 secondary funds headquartered in Europe were established in 2021, amid the hype period, with $29 billion in assets under management per PitchBook. It all comes down to how buoyant the VC market is: "If the market is good again, then who's going to sell secondary?

Persons: There's, Michael Smith, Regeneration's Smith, Kelly Rodriques, Hussein Kanji, Kanji, Hussein, Tom Henrikkson, OpeanOcean, it's, Henrikkson Organizations: Venture, Business, Industry Ventures, Cherry Ventures, Ventures, Albion, Forge, Financial Times, VC, Hoxton Ventures, Sequoia Locations: Silicon Valley, Europe, San Francisco, Amsterdam, London

☆ Salary data revealed: Here's how much 16 top US and European AI startups like OpenAI, Anthropic, and Hugging Face are paying staffers
▼ + stars: | 2024-02-01 | by ( Riddhi Kanetkar | Tasmin Lockwood | Callum Burroughs | ) www.businessinsider.com time to read: +2 min

AI talent is very much in demand, with some staffers from the likes of Stripe, Amazon, and Google making the switch to smaller upstarts. AI companies are using some of those funds to shell out on sizable salary packages to attract talent, according to data obtained by Business Insider. While salary transparency remains a problem in both Europe and the US, the latter has taken more steps to make salary data visible to employees and candidates. With considerable research prowess, Europe has become a hotbed for producing AI talent. Business Insider has pulled together salary data from some of the most in-demand AI companies that have published H1B salary data, including OpenAI, Anthropic, and Midjourney.

Persons: Sam Altman, queued, chunky, DeepMind's, Mustafa Suleyman Organizations: Google, Business, Mistral, Companies Locations: Europe, Atomico

☆ SoftBank-backed education startup GoStudent conducts another round of layoffs
▼ + stars: | 2024-01-31 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

SoftBank-backed education startup GoStudent has initiated another round of layoffs, affecting over 100 people, Business Insider understands. Austrian company GoStudent, billed as Europe's first edtech unicorn, offers one-to-one video tutoring. GoStudent did not confirm the scale of the layoffs when approached for comment by BI. The business and strategy adjustments aim to make GoStudent fully profitable and cashflow positive "as quickly as possible," he said. The fresh round of layoffs is GoStudent's third following cuts in September and December of 2022, all previously reported by BI .

Persons: GoStudent, Felix Ohswald, I've, Ohswald, Studienkreis Organizations: Business, LinkedIn, BI Locations: Austrian, Germany, Austria, Switzerland, DACH

☆ Moonfare cofounder brings new startup out of stealth with $10 million. The company wants to become the operating system for carbon credit projects.
▼ + stars: | 2024-01-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

The voluntary carbon market, where credits are traded, is tipped to reach $250 billion by 2050 as companies ramp up efforts to reach net zero. It also helps project developers communicate credit quality with third parties and manage orders, the company claims. The idea is that by streamlining administrative, manual tasks and bringing information into one place, carbon projects can come online more quickly and improve the supply-side crunch. The product was developed in partnership with two large carbon project developers while the company was in stealth mode, Argyros said. Louis Coppey, partner at Point Nine who led December 2023's cash injection into BlueLayer, touted it as the operating system or ERP for carbon project developers.

Persons: fintech Moonfare, BlueLayer, Alexander Argyros, Argyros, –, Vivian Bertseka, Al Gore's, Gerardo Bonilla, Louis Coppey Organizations: Business, Nine, Point Locations: Berlin, London, Athens

☆ Cultivo wants to scale investment in nature-based carbon projects. It just raised $14 million with this 11-slide pitch deck.
▼ + stars: | 2024-01-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewA startup that helps financial institutions and corporations invest in nature regeneration projects has raised $14 million in Series A funding. Carbon credits represent one metric tonne of CO2 removed from the atmosphere, typically bought up by companies looking to reach net zero. Potential investors — financial institutions and corporations — can then choose to back a regeneration project on that land. AdvertisementThe voluntary carbon market, where carbon credits are traded, has become popular in recent years as companies race to reach their climate commitments. It also takes a slice of carbon credits sold by projects it helps to set up.

Persons: —, Mark Carney, Morgan Stanley, Manuel Piñuela, Cultivo, Piñuela, Peña Verde Organizations: Service, Business, Bank of England, Cultivo, MassMutual Ventures, Octopus Energy, Salkantay Ventures, Peña Locations: San Francisco

☆ Tiger Global-backed Productboard conducts third round of layoffs in two years, sources say
▼ + stars: | 2024-01-26 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Now, Productboard has begun another round of layoffs, the scale of which is unknown as yet, the former staffers said. Startups and Big Tech companies alike have slashed their wage bills as the high-interest rate environment encourages businesses to prioritize sustainability over growth. AdvertisementIn January alone, 76 tech companies have laid off 21,370 employees, according to tracker site Layoffs.fyi.

Persons: —, Productboard, Daniel Hejl, Hubert Palan, Kleiner Perkins, Palan, Productboard's headcount Organizations: Service, Business, Tiger Global, Dragoneer, Microsoft, Volkswagen, Sequoia, Bessemer Venture Partners, Index Ventures, Big Tech, Bloomberg, LinkedIn Locations: San Francisco, Czech Republic, Silicon Valley, Sequoia Capital, Productboard

☆ Ceezer just raised $11 million to bring transparency to carbon credits. Check out 12-slide pitch deck it used to secure the funds.
▼ + stars: | 2024-01-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewGerman startup Ceezer, which helps companies plan, buy, and manage their carbon credit portfolio, has just raised 10.3 million euros, around $11.2 million, in Series A funding. Carbon credit marketplaces and accounting tools boomed in 2021 as large companies rushed to understand and offset their emissions. They were all vying for a slice of the projected $250 billion voluntary carbon market by 2050 , where private companies buy and sell carbon credits. Carbon credits are typically bought after achieving their stated impact, but this requires project developers to have cash upfront to get started, Drewelies said. AdvertisementThe fresh funding, led by HV Capital, will be used to launch new financial products so that project developers can unlock pre-financing.

Persons: —, Magnus Drewelies, Drewelies, Ceezer Organizations: Service, Business, Siemens, HV Capital, Norrsken, Picus, Partners Locations: Berlin, New York

☆ Instagrid replaces gas-powered generators with electric alternatives. Check out the 23-slide pitch deck it used to raise $95 million.
▼ + stars: | 2024-01-23 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA German startup replacing fossil fuel generators used to power construction, film sets, music festivals, and first responders has just raised $95 million in a Series C funding round. "What people did before, if they needed more computational power, they built bigger and bigger and bigger computers – so these mainframe computers that you had in the early 90s," he told Business Insider. AdvertisementIts customers, which buy units for use or to rent on to others, include Swedish construction company Skanska, European construction rental company Loxaml, and the Red Cross. The fresh funds will be used to expand the rollout of the current system and launch additional powerful electric generator systems.

Persons: —, Instagrid, Sebastian Berning, Berning, Morgan Organizations: Service, Business, Teachers ' Venture, Ontario Teachers, Energy Impact Partners, SET Ventures Locations: Swedish, Ontario, Europe, North America, , California

☆ This startup wants to be the leading clean energy provider to businesses. Check out the 12-slide pitch deck Reel used to raise $5.4 million.
▼ + stars: | 2024-01-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Businesses can currently purchase certificates or credits to say they have used renewable energy, representing the output from a renewable energy project that's already supplying the grid. The startup's platform aggregates smaller companies' energy demands so they can sign PPAs, which locks in a fixed price. It will also expand into new European markets and grow its 15-strong team across tech, energy, commercial, and operations. With its eye on becoming the leading B2B energy provider, the startup plans to build energy storage and demand response capabilities down the line.

Persons: —, David, Jon Sigvert, Sigvert, Daniel Nathan Organizations: Service, Business, Energy, International Energy Agency . Companies, Fortune, UVC Partners, Firm Locations: Copenhagen, Ukraine, Finland

Islamabad, Pakistan CNN —Pakistan and Iran have both conducted strikes on each other’s territories in an unprecedented escalation of hostilities between the neighbors, at a time when tensions have risen sharply across the Middle East and beyond. Iran claimed it had “only targeted Iranian terrorists on the soil of Pakistan” and that no Pakistani nationals were targeted. In 2015, the group claimed responsibility for an attack that killed eight Iranian border guards, with militants reportedly crossing into Iran from Pakistan. Iran’s strikes on Tuesday sparked a diplomatic spat, with Pakistan recalling its ambassador from Iran and suspending all high-level visits from its neighbor. And after Pakistan’s strikes, Iran on Thursday demanded “an immediate explanation” from its neighbor, Tasmin reported.

Persons: Islam –, hideouts, Jaish al, ”, Karim Sadjadpour, Wesley Clark, “, Jaish, CNN What’s, Tasmin, Matt Miller, Washington, “ We’ve, –, Miller, ” Pakistan’s Organizations: Pakistan CNN —, Adl, Justice, Iran’s, Carnegie Endowment, International, US Army, CNN, Hamas, US, National Counterterrorism Center, US State Department, US State, Pakistan – Locations: Islamabad, Pakistan, Pakistan CNN — Pakistan, Iran, Balochistan, Sistan, Baluchestan, restive Baloch, Gaza, Here’s, Pakistan’s Balochistan, Iran’s, Iran’s Sistan, Baluchestan province, Islam, ”, United States, Iraq, Syria, Israel, Lebanon, Yemen, Red, NATO, Afghanistan, Tehran, Pakistan’s, Iranian, India, ” China

☆ Temo just raised $6.5 million to make small sailing boats electric. Check out the 19-slide pitch deck it used to secure the funds.
▼ + stars: | 2024-01-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Arriving, you quickly and easily attach the motor to a dinghy or rowing boat to make a short but peaceful journey to the main sailing boat. That's the picture Temo cofounder Justine Perussel paints when describing her company's electric motor technology. Founded in 2018 in Vannes, France, Temo just raised 6 million euros, around $6.5 million, to make electric alternatives to combustion engines for small boats such as dinghies, sailboats, and rowing boats. "The electric motor market is moving very fast – it's booming," Perussel said. Small crafts are typically used to get to and from larger sailing boats or are rented for recreational use on lakes, Perussel said.

Persons: Justine Perussel, Temo, Perussel, – Organizations: Business, International Council of Marine Industry, One Ventures, Bpifrance, Partners Locations: Vannes, France, Europe, Italy, Spain, North America

☆ Climate tech in 2023: More grants, experienced founders, and new laws help sector to standout year
▼ + stars: | 2023-12-29 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

While much of Europe's startup ecosystem has been hobbled by the rocky macroeconomic environment and soaring interest rates, climate tech has continued to lure funds from venture capitalists. Many climate tech companies work with hardware, meaning debt financing is also an attractive non-dilutive option for working capital between funding rounds. Global private market equity and grant funding for climate tech startups is actually down – it slid 40% to $65 billion in the 12 months ending September 30, according to PwC. Some smaller climate tech companies have made cuts, including vertical farming company InFarm, which retreated from Europe and was declared bankrupt in the Netherlands. Generally, however, layoffs have been a boon for climate as big tech talent has moved into or launched climate tech startups.

Persons: —, Siobhan Brewster, Atomico, Brewster, Piotr Bukanski, Mike Schroepfer, Greg Sandoval, retrofits, Barcelona's, Balderton Capital's Magda Lukaszewicz, Stuart Ferguson, Schroepfer, Warner, Aenu's Brewster Organizations: Service, Business, Venture, Energy, Beringea, Gigascale, Sustainable Ventures, Silicon Valley Bank, Global, Ada Ventures Locations: London, Europe's, Ukraine, United States, Europe, Silicon, Netherlands

☆ Strong By Form uses timber to make construction more sustainable. It just raised $5.2 million with this 32-slide pitch deck.
▼ + stars: | 2023-12-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Strong By Form, a bio-composite materials startup hoping to make construction more sustainable, has just secured $5.2 million in seed funding. Founded in 2018 in Chile, the now Madrid-based startup uses timber for bio-composites to replace concrete and steel. It uses software to optimize the material's structural design and resource use, making it tough and more sustainable. "There is a growing demand for structural materials as the world needs to build 13,000 buildings every day, for the next 25 years, just to cope with population growth. Its structural timber products, such as slabs for buildings, will still use petrochemical-based resins as the company waits for a bio-based formula to be certified.

Persons: Andrés Mintik, Mintik, Minitik Organizations: Business, CMPC Ventures Locations: Chile, Madrid, Europe

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