Turning waste-wood into skyscrapers; mycoprotein for fish farming; saving landfill-bound products from the hangman’s noose– Recent deals worth looking at:
Agriculture & Food
Hubcycle (2019) is turning the food industry’s byproducts into valuable ingredients, supporting a circular economy by sourcing useful products from industrial side-streams and transforming them into ingredients for new food products. With over a third of all food system emissions relating to waste and contributing 6-8% of total global greenhouse gas emissions, this pioneering solution is part of the range of innovations slicing the food sectors CO2 emissions.
This start-up pioneering the upcycling market has secured $16.2M in Series A funding from new investors including ETF Partners (Environmental Technologies Fund), Raise, and Techmind, alongside previous backers including Daphni, Citizen, Swen, and Bleu Capital.
The funding will go towards scaling its concept globally and expanding its range of technological innovations.
Energy & Power
Flower (2020) is enhancing energy grid-stability through its AI-powered software management services for battery energy storage infrastructure. By optimizing energy distribution in real time, Flower’s solution supports grid operators and energy producers in both reducing costs and integrating more renewable sources effectively.
Flower secured an additional $21.6M in Series A funding from Northzone alongside Giant Ventures, 82an Invest, Sony Innovation Fund and angel investors, bringing the round total to $50M.
The capital infusion will support Flower’s pan-European expansion and the further development of its infrastructural Battery Energy Storage Systems (BESS). These systems play a critical role in managing grid fluctuations, offering a reliable alternative to costly and time-consuming grid expansions.
Materials & Chemicals
Luxwall (2020), transforms commercial buildings with vacuum-insulated glass windows designed to cut energy waste. The advanced windows are engineered to retain heat, directly reducing heating and cooling demands and shrinking the carbon footprint of each building.
The start-up announced $51M in Series B funding from Climate Investment, Barclays Sustainable Impact Capital, Carbon Equity, The Nature Conservancy, Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures.
The funding will be used to scale up production at its Litchfield factory, and to construct and expand its second factory in Detroit. Further, a portion of the funding will go towards the growth of an R&D center in Ypsilanti, Michigan as the start-up continues efforts to diversify its window solutions, tailoring them to a wider range of building types and regions.
Resources & Environmental Management
Matter Intelligence (2023), has developed advanced sensor technology with applications including identifying critical mineral reserves, monitoring biodiversity, precision farming, and more. Providing real-time data, the platform supports industries in observing materials beyond the visible spectrum. Their upcoming satellite, EARTH-1, is designed to collect high-resolution hyperspectral and thermal images, providing data that enhances industries and AI models with new predictive capabilities including emissions monitoring and more.
Emerging from stealth, Matter Intelligence has announced a $12M Seed funding round led by Lowercarbon Capital, with participation from Toyota Ventures, Pear, Mark Cuban, and E2MC.
The funding will go towards developing its sensing infrastructure, and expanding capabilities to highlighted interest areas of urban planning, carbon MRV, utilities monitoring, and more.
Transportation & Logistics
Carbon Ridge (2021) is advancing maritime decarbonization with its modular onboard carbon capture technology to decarbonize maritime shipping. Targeted at the shipping industry, one of the largest contributors to global emissions, Carbon Ridge’s solutions help vessels capture and store carbon, enabling compliance with tightening global environmental regulations.
The start-up has raised $9.5M in funding bringing the round’s total amount to $15.5M. The round was co-led by Crosscut Ventures and Western Technology Investment (WTI), with continued backing from existing investors, The Grantham Foundation, Berge Bulk, Rusheen Capital Management, Plug and Play Ventures, Katapult Ocean, Incite, Spitzer Industries and Canopy Generations Fund.
The fresh capital will go towards the commercial demonstration of its patent-pending onboard carbon capture and storage solution (OCCS).
Waste & Recycling
Recyda (2020) provides software solutions to assess recyclability along the packaging value chain. The start-up offers a SaaS-powered platform to support companies in easily assessing the recyclability of packaging materials across global markets, including access to regulatory insights and material data for informed and compliant choices.
Recyda has recently announced its $6.3M Series A round led by Cusp Capital, with participation from Speedinvest, Futury Capital, Auxxo Female Catalyst Fund, and angel investors including Dr. Stephan Rohr, Benedikt Franke, and Martin Weber.
Already partnering with FMCG leaders like Beiersdorf, Kao, and Trolli, Recyda aims to use the new funding to continue improving its platform to drive meaningful change in the packaging industry and supporting EU targets, as well as to expand its team.
