Recent Deals-8 July
Looking for a snapshot of the latest, most worthwhile cleantech deals? From soil-based carbon sequestration and battery storage solutions to alternative pesticides and plastic-to-aggregate recycling solutions, we have it covered. Take a look.
Agriculture & Food
Soil Carbon, a developer of microbial products for soil-based carbon sequestration, raised $7 million from Horizons Ventures, Grok Ventures, Lowercarbon Capital and Clean Energy Finance Corporation. Founded in 2019, the Australian start-up’s microbes improve plant fertility and protect against disease, while also helping the soil around the root system store carbon more effectively, leading to better quality soil for future planting. The funding will be used to expand their R&D team and scale up Soil Carbon operations across Australia, where it is conducting field trials. It has also established an office in the US to benefit from both northern and southern hemisphere growing seasons.
Energy & Power
Zenobē Energy, owner and operator of battery storage solutions, secured $25 million in finance from the Specialist Structured Finance fund at NatWest. Zenobē provides end-to-end services to bus operators, including design, installation, financing and operation of charging at depots, including systems integration into different assets and operating models. Last year, the company raised $32million in equity funding from JERA and TEPCO, and $33 million from Santander. The company previously announced that they will support the launch of 34 electric buses in London. In addition to providing end-to-end services, the recent financing will support both the optional replacement of the batteries within the buses themselves and the financing of non-battery components.
Materials & Chemicals
Enko, the developer of a discovery platform for alternatives to chemical pesticides and fertilizers, raised $45 million from the Bill & Melinda Gates Foundation, Anterra Capital, Rabobank, Finistere Ventures, Novalis LifeSciences, Germin8 Ventures and TO Ventures Food. Founded in 2017, Enko uses pharmaceutical discovery and predictive analytics tools to advance under-developed “modes of action” that can effectively fight crop pests. The company aims to provide access to affordable innovations that can safely and sustainably control crop pests and diseases. The latest round brings Enko’s total funding to $65 million with the new funding earmarked for expansion of their technology platform and rapid development of Enko’s pipeline of novel crop protection products.
Resources & Environment
Arqlite, the developer of plastic-to-aggregate recycling process, received an undisclosed amount from CEMEX Ventures, the venture arm of the building materials company. Founded in 2015, the California- based company’s process recycles all types of plastics into artificial aggregate, which can then be used as an alternative for quarry rock for concrete mixes, drainage layers and roads. As well as using waste plastic, the Arqlite material also has improved thermal and acoustic insulation compared to mineral aggregates and offers better construction quality and greater energy conservation. Last year, it won the CEMEX Ventures Global Construction Startup Competition winning a $250,000 investment through New York City’s curb-to-market challenge.
Transportation & Logistics
7bridges, a provider of supply chain and logistics platform and automation tools, raised $3.4 million in a seed funding round with Crane Venture Partners and LocalGlobe. Founded in 2016, the London-based startup’s automation tools enable businesses to control and optimize their logistics. An AI-powered optimization engine continuously suggests optimal logistics strategies, by simulating and predicting the impact of changes in the supply chain in the context of business constraints and goals. The funding will enable the roll-out of 7bridges’ Logistics Engine Optimization ‘L.E.O’ technology to clients in industries from retail and fashion to med-tech and manufacturers.
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