Hello ESG in VC followers,
Welcome to the 9th edition of ESG in VC Insights. Curated with every month by ESG in VC team.
ESG in the News
Will George from R7 Ventures discusses why he believes startups should focus on “total addressable impact” as opposed to ESG
The Corporate Climate Responsibility Monitor 2023 finds that, with a few exceptions, most firms are falling significantly short of their sustainability targets
Impact investing pioneer and chairman of the Global Steering Group for Impact Investment, Sir Ronald Cohen, discusses the “impact revolution” and how the rise of impact reporting requirements and standards will accelerate the transition to “impact economies”
At the same time, a recent Harvard Business Review article argues that the rise of sustainability reporting requirements may have overstated benefits and at times act as a hurdle “consuming bandwidth, exaggerating gains, and distracting from the very real need for changes”
Nearly 120 venture capital firms have come together to form Impact VC, a Europe-wide initiative to promote impact investing in venture capital
In honour of Black History Month, Harlem Capital highlights black-founded venture capital firms from 1970 through 2019 that paved the way for more progress in recent years
The Regulatory Report
Florida Governor Ron DeSantis proposes new legislation that would ban fund managers for state and local entities from considering ESG factors in their investment decisions
In this piece, Aravo’s Dean Alms discusses how organizations can best strengthen their supply chains from a sustainability and human rights perspective in light of rising ESG legislation
The International Sustainability Standard Board (ISSB) has confirmed that it will issue its first reporting standards at the end of Q2 2023
Noteworthy Raises in E
🌍Europe
Clean energy start-up, Cylib, a Germany-based developer of sustainable lithium battery recycling systems, raises EUR 11.6 million of Seed funding led by Speedinvest, VSquared Ventures, and World Fund
Sustainable materials start-up, BIBAK, a Paris-based developer of sustainable, reusable packaging solutions, raises EUR 6 million of Series A funding led by SWEN Capital Partners
Clean energy start-up, Qotto, a France-based developer of of stand-alone solar kits providing electricity to rural households, raises $8 million of Series A funding led by IBL
🌎North America
Clean energy start-up, BoxPower, a California-based developer of solar microgrid software, raises $9.2 million of Series A funding led by Aligned Climate Capital
Sustainable materials start-up, Checkerspot, a California-based developer of plant-based sustainable materials for industrial applications, raises $55 million of Series C funding led by ArrowMark Partners
MobilityTech start-up, Via, a New York-based developer of inclusive public mobility systems, raises $110 million of Series G1 funding led by 83North & John Elkann
🌏 Asia & Australia
MobilityTech startup, Magenta, a Mumbai-based developer of EV charging systems and other e-mobility services, raises $20 million of Series B equity funding and $20 million of debt from undisclosed investors
Circular economy startup, PadCare, a Pune, India-based developer of a hygiene management system designed to produce clean, recyclable output from used sanitary napkins, raises INR 50 million of seed funding led by Social Alpha
Robotics startup, Lebo Robotics, a Tokyo-based developer of wind turbine blade maintenance robots, raises JPY 300 million of venture funding from undisclosed investors
Carbon sequestration startup, Loam, an Australian-based developer of microbial carbon sequestration technologies designed to restore carbon to soil, raises AUD 105 million of Series B funding led by Lowercarbon Capital and Wollemi Capital
Noteworthy Raises in S
🌍Europe
Elderly care start-up, Sioslife, a Portugal-based developer of interactive technology systems providing the elderly with access to communication, assistance and entertainment, raises EUR $2.3 million of Series A funding from Subvisual, António Murta and 3xP Global
SDGs - 3
🌎North America
HealthTech start-up, TwentyEight, a New York City-based women’s health platform providing affordable, convenient access to reproductive and sexual healthcare, raises $8.3 million of seed funding from University of Pennsylvania Health System, Great Oaks Venture Capital and Third Prime
EdTech and HealthTech start-up, Marker Learning, a New Jersey-based telepsychology platform aiming to support children with learning disabilities, raises $15 million of Series A funding led by Andreessen Horowitz
HealthTech start-up, Raydiant Oximetry, a California-based developer of a non-invasive medical device to measure fetal oxygen levels and promote healthy deliveries, raises $25 million of Series B funding from March of Dimes Canada
SDGs - 3
EdTech start-up, HOMER, a New York city-based developer of an online reading application designed to improve childhood literacy, raises $95.4 million of Series D funding from AdTay Ventures, SevenTrainVentures and FJ Labs
SDGs - 4
🌏 Asia & Africa
HealthTech start-up, SwipeRX, a Singapore-based medical technology system designed to connect pharmaceutical manufacturers, pharmacies, and patients., raises $8.75 billion of Series B2 funding led by Sanofi and the Johnson & Johnson Foundation
SDGs - 3
FinTech start-up, Kwara, a Kenya-based digital banking platform aiming to accelerate the country’s inclusion into the formal financial system, raises $7 million of seed funding led by Breega
EdTech start-up, BlueLearn, a Bangalore-based digital education platform intended to offer live interactive courses to students, raises $3.5 million of seed funding led by Lightspeed India Partners and Elevation Capital
SDGs - 4
FinTech start-up, Naked, a Johannesburg-based provider of AI-based and transparent insurance services, raises $17 million of Series B funding led by International Finance Corporation
Noteworthy Raises in G
SaaS start-up, Fingerprints for Success, an Australia-based professional development platform aiming to empower teams to work better together and improve diversity and inclusion, raises AUD 5 million of seed funding led by Investible
Latest Funds Announcements
Berlin-based Planet A Ventures closes its first fund at EUR 160 million to invest in European-based sustainability technologies and solutions
Chicago-based and woman-owned Buoyant Ventures closes its first fund at $76 million to back digital solutions to combat climate change
Milan-based Panakes Partners raises its EUR 150 million Purple Fund to invest in Series A and later-stage MedTech and BioTech solutions
Nashville, Tennessee-based FCA Venture Partners closes its oversubscribed $71 million Health Innovations II Fund focused on Seed and Series A stage companies within the digital health and technology-enabled healthcare services landscape
ESG in VC Podcast
We released a new episode last week with Victoria Ferguson from MMC Ventures, so please follow us and tune in if you want to dive into the world of ESG further