Hello ESG in VC followers,
Welcome to the 12th edition of ESG in VC Insights. Curated with 🖤 every month by the ESG in VC team.
ESG in the News
ESG_VC, a consortium of VCs dedicated to supporting entrepreneurs in their ESG journey, has released its latest report, revealing startups’ strong focus on mental health initiatives, but deficiencies in environmental practices and female board representation
In its recent paper, EIF Research Market Analysis introduces the CLEU1 project, using machine learning to analyse the actions and impacts of European Cleantech firms aligned with the European Green Deal policies
Is ESG in need of a rebrand? Planet A’s recent article discusses the misconceptions and challenges surrounding ESG and the need for further research, standardization, and stakeholder engagement to promote responsible investment practices
A recent study conducted by King's College examines the intricate and subjective aspects of calculating greenhouse gas emissions, highlighting recommended policy changes to prevent corporations from exploiting loopholes within the system
The International Sustainability Standard Board (ISSB), established over 2020-2021 under the IFRS to develop sustainability-related financial reporting standards, has issued its inaugural global sustainability disclosure standards
Contrary to critics' claims that ESG negatively impact returns, recent research by Pitchbook reveals that there is no statistically significant difference in performance between PRI signatories and their peers
The Regulatory Report
Regulatory approaches to ESG appear to be diverging in Europe and Asia, with Europe focusing on promoting sustainable investment and Asia prioritizing risk management
ESG Book's analysis of the World Business Council for Sustainable Development's Reporting Exchange platform reveals a 155% increase in global ESG regulations over the past decade, with 1,255 regulations introduced since 2011
New EU Regulation has come into force today, aiming to ensure that supply chains of key goods exported or placed on the EU market do not contribute to global deforestation and forest degradation
The UK Emissions Trading System Authority (UK ETS) has announced new emission limits for the power sector, energy-intensive industries, and aviation starting from 2024 and aims to expand the emissions cap to additional sectors such as domestic maritime transport and waste
Noteworthy Raises in E
🌍Europe
Recycling startup, DePoly, a Switzerland-based developer of PET plastic recycling technologies, raises $13.8 million of seed funding led by BASF Venture Capital
Clean energy startup, Turn2X, a Munich-based developer of biogas intended to replace natural gas, raises EUR 4.3 million of seed funding led by LEA Partners
Clean mobility startup, Service4Charger, a Berlin-based EV charging platform, raises EUR 10 million of Series A funding led by BP Ventures
Carbon capture startup, Greenlyte Carbon Technologies, an Essen, Germany-based developer of low-temperature direct air capture technologies, raises EUR 4.5 million of seed funding from undisclosed investors
SDGs - 13
Clean energy startup, 1Komma5, a Hamburg-based provider of installation and related services for solar, electricity storage, and charging infrastructure, raises EUR 430 million of Series B funding led by G2 Venture Partners
CarbonTech startup, Supercritical, a UK-based carbon removal marketplace, raises $13 million of venture funding led by Lightspeed Venture Partners
SDGs - 13
🌏 Asia & Africa
Clean mobility startup, Terra Motors, a Tokyo-based EV manufacturer, raises JPY 4 billion ($28.4 million) of Series C funding led by Osaka Gas
CleanTech startup, Ecube Labs, a Seoul-Korea-based and IoT-enabeled smart waste management system, raises KRW 15 billion ($11.4 million) of Series C funding from Hana Securities, Kingo Investment Partners and Coolidge Corner Investment
Built environment startup, Kubik, a Nairobi-Kenya-based developer of construction materials created from plastic waste, raises KES 3.3 million in of seed funding led by Global Innovation Initiative Group
🌎North America
FoodTech startup, Prime Roots, a Berkley, California-based developer of plant-based deli and charcuterie, raises $30 million of Series B funding from Monde Nissin, Prosus Ventures and Diamond Edge Ventures
Noteworthy Raises in S
🌎North America
HealthTech startup, Author Health, a Boston-based senior-focused behavioral health care platform for serious mental illness, raises $115 million of venture funding from General Atlantic
SDGs - 3
EdTech startup, Kidovo, a Delaware-based e-learning platform for ages 2-8, raises $1.2 million of seed funding led by Venture Highway, Amplify PCC and Good Capital (India)
SDGs - 4
EdTech startup, Cognota, a Toronto-based developer of software to streamline and improve enterprise corporate learning and development teams, raises $2 million of Series A funding led by Grotech Ventures
SDGs - 4
HealthTech startup, Augmedics, a Chicago-based developer of an augmented reality spinal surgery system, raises $82.5 million of Series D funding led by CPMG
SDGs - 3
HealthTech startup, Heading Health, an Austin-based mental health platform looking to provide high-quality accessible care including via ketamine, MDMA and psilocybin interventions, raises $4.5 million of Series A extension funding led by Gron Ventures and JAM Fund
SDGs - 3
🌍 Europe
HealthTech startup, Cathera, a Lyon, France-based developer of ultrasound-based medical devices designed to treat brain disorders, raises EUR 37.5 million of Series B funding from Supernova Invest, Pancakes Partners, and European Innovation Council Fund
SDGs - 3
HealthTech & CleanTech startup, bNovate Technologies, a Ecublens, Switzerland-based microbial detection system for water, raises CHF 12 million of Series C venture funding led by Emerald Technology Ventures
SDGs - 3
🌏 Asia, Middle East
EdTech startup, CodiPlay, a Kazakhstan-based children's programming and robotics learning platform, raises $2 million of seed funding led by Tumar Venture Fund
SDGs - 4
HealthTech startup, WatchYourHealth, a Mumbai-based healthcare delivery and financing platform, raises $2.2 million of Series A funding from Conquest Global Ventures VCC
SDGs - 3
EdTech startup, Leverage Edu, a New Delhi-based educational platform providing mentorship and college admissions advisory, raises $40 million of Series C funding from Kaizenvest, Brand Capital, and Blume Ventures
SDGs - 4
Noteworthy Raises in G
ESG startup, Cierpa & Company, a Tokyo-based developer of enterprise ESG management software, raises JPY 410 million of venture funding led by Global Brain and World Innovation Lab
SDGs - 9
HR Tech startup, UnifyWork, a Willowick, Ohio-based developer of an equitable hiring platform, raises $3 million of seed funding from North Coast Ventures, JumpStart and OVO Fund
SDGs - 10
Latest Fund Announcements
New York City-based Planeteer Capital raises a $75 million fund to invest in pre-seed and seed stage ClimateTech startups
London-based Just Climate, part of Generation Investment Management, announces the close of its inaugural $1.5 billion fund to invest in carbon reduction and removal solutions
Paris-based Ring Mission raises a EUR 66 million impact venture capital fund to invest in impact-driven startups
San Jose, California-based TDK Ventures raises a new $150 million fund to invest in energy transition startups across Europe and North America
Paris-based Brighteye Ventures raises its second fund totalling EUR 100 million to invest in seed and Series A EdTech startups