Recent Deals – 13 February 2024

Bio-based replacements for plastic coatings; water neutral hybrid DAC technology; and predictive AI used to optimize crop yield– Recent deals worth looking at:  

Agriculture & Food 

Inari (2016) is a developer of gene-editing tools for seeds using predictive AI to create higher-yielding crops that require fewer resources. Their technology combines predictive design and multiplex gene editing to optimize crop yields based on the most effective gene edits. 

Inari raised $103M in Growth Equity funding on January 30th that will be put towards advancing its technology platform and accelerating product commercialization.  

Energy & Power 

Clevergy (2022) is a provider of home energy management software using AI-integrated energy saving models. Through their platform, Clevergy aims to increase energy efficiency through enhancing connectivity between homes, retailer services and smart devices. 

On January 31st, Clevergy successfully raised $1.7M in Seed funding from Zubi Capital and Earth.  

This funding will be used to support product development, AI integration, and support community energy management to help customers connect energy appliances and products to centralize operations.  

Materials & Chemicals 

Xampla (2013) is a developer of bio-based biodegradable material, made entirely from plant protein.  Their Morro Coating is a plant-based and biodegradable replacement for traditional paper and cardboard coatings that presents a compostable and high-strength alternative to petrochemical-based or fluorochemical coatings.  

Pragmatic secured $7M in Series A funding on January 30th from new investor CIECH Ventures to facilitate the expansion of Xampla’s Morro Coating into new markets.  

Resources & Environment 

Avnos (2022) is a developer of a Hybrid DAC (HDAC) solution that is water-neutral and reduces the heat and costs of existing DAC.  Avnos provides resource-efficient and cost-effective DAC technology that produces water as it captures carbon dioxide from the air. 

On February 6th, Avnos raised $36M in Series A funding to grow its team, deploy additional HDAC assets across North America and Europe, and open a new, state-of-the-art research and development facility located just outside New York City.  

Transportation & Logistics 

Heart Aerospace (2018) is a developer of an electric drivetrain for regional airplanes.  

Heart Aerospace raised $107M in Series B funding on February 1st. The round will develop its business and progress toward type certification of the company’s first hybrid-electric aeroplane, the ES-30. This year, Heart Aerospace is looking to focus on developing its hybrid-electric powertrain.  

Enabling Technology 

Greyparrot (2019) is a provider of computer vision solutions to power robotics and smart systems for waste management at each stage of the value chain.  

On February 7th, Greyparrot raised $12.8M in Growth Equity funding from Bollengraaf.  

The round accompanies a strategic partnership and commercial distribution agreement between Bollengraaf and Greyparrot in which the former has agreed to transfer its AI vision business to Greyparrot. Together, Greyparrot and Bollengraaf aim to develop new “smart” plants and innovative digital technologies to digitize waste management. 

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