Recent Deals – 29 April: Food Ordering, Methane Monitoring and Logistics
Looking for investment insight? Here’s your overview of the latest cleantech deals from across the globe.
Agriculture & Food
Fast-growing provider of ordering software for restaurants and their suppliers, Choco, raised a $30 million round following on from a $33.5bmillion round in October 2019. The current round was led by Coatue Management, with participation from Bessemer Venture Partners, Atlantic Labs, Target Global and Greyhound. Choco’s technology aims to improve restaurant/supplier relationships and enable more precise ordering that can prevent overstocking and increase efficiency but also preserve resources. Choco has adapted to the current market with Choco Market now connecting local suppliers with consumers. Choco plans to use the new funds to continue building out its technology and customer base, as well as to continue to adapt to the current COVID-19 situation with more initiatives to help its customers stay in business.
Energy & Power
SensorFlow, developer of wireless room automation and energy management systems, raised $8.3 in a continuation of its $2.9 million Series A funding round from February 2019. The current round was led by Openspace Ventures and Gaw Capital Partners with participation from Aurum Investments and previous investor, Pierre Lornet. SensorFlow systems allow managers to monitor and adjust their consumption patterns in real-time using IoT technology and big data. The latest funding will be used to develop SensorFlow’s smart building management solution for HVAC systems used in office buildings, hotels and industrial spaces.
Materials & Chemicals
Developer of a cell-free synthetic biology platform, Enginzyme raised $6.9 million in a Series A round led by Sofinnova Partners. Founded in 2015, the start-up’s platform combines multi-step enzymatic reactions, with packed bed reactors to produce sustainable alternatives to plastics, nylons, rubbers and other synthetics. an intracellular process. Enginzyme’s universal immobilisation technology, ExiG, applied in a packed bed reactor gives unprecedented space-time yield and productivity, without advanced equipment. Funding will be used to accelerate the development of Enginzyme’s technology platform and take its first internal production process to pilot.
Resources & Environment
Despite the IEA recently noting that lower oil and gas price may cause producers to pay less attention to tackling methane emissions, a provider large-scale cost-effective aerial methane-emission monitoring, Kairos Aerospace raised $9 million in growth equity. The round was led by OGCI Climate Investments with participation from John Crane and Energy Innovation Capital. Founded in 2014, Kairos provides actionable data on major sources of methane emissions, undertaking basin-wide aerial surveys to identify the largest leaks using infrared data, GPS and aerial photography. The funding will be used to expand operations and fuel global expansion of their methane emissions monitoring.
Transportation & Logistics
Kargo, the Jakarta-based provider of technology-enabled logistics and shipping services backed by Uber founder Travis Kalanick, raised $31million. The Series A round was led by Tenaya Capital with participation from a multitude of investors. Kargo connect Indonesian shippers with carriers, giving shippers, transporters and truckers the ability to connect, transact and track shipments in real time on Kargo’s platform. In addition to raising this funding, Kargo is raising a $1 million Logistics Relief Fund from employee salaries to aid transporters and prevent disruption to delivery of essential supplies.
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