Hello ESG in VC followers,
Welcome to the 13th edition of ESG in VC Insights. Curated with 🖤 every month by the ESG in VC team.
ESG in the News
GoingVC discusses how ESG is transforming venture capital noting that nearly a quarter of early-stage VCs and over a third of seed-stage VCs now include ESG considerations in their investment decisions and portfolio management activities
While ESG funds have faced a challenging year in terms of performance, politics, and product design, the Financial Times reports that investors remain interested in integrating energy transition and energy security into their portfolios
VentureESG, a community-based non-profit supporting ESG integration across VC, releases its first white paper discussing what ESG means for the venture capital industry, proposing fit-for-purpose working definitions of ESG for VC and highlighting 10 relevant issue areas across the VC value chain
Following the enactment of SFDR regulation in March 2021, numerous VC funds across Europe have pursued Article 8 and Article 9 classifications. Here you can find Sifted’s recent article sharing the full list of Article 8 and Article 9 VCs
As the impact tech sector continues to grow, TechCrunch covers critical questions that ClimateTech founders should consider when looking to raise capital from impact funds
The Regulatory Report
In a historic climate case, a Montana state judge rules that the state's support of fossil fuels violates its citizens’ constitutional right to a clean and healthful environment
The Biden-Harris administration introduces a proposed Sustainable Products and Services procurement rule aimed at utilizing the Federal Government’s purchasing power to support a transition toward cleaner and more responsible procurement practices
Forbes reports on the potential for ESG reporting standards to evaluate AI policies, provide frameworks for responsible AI practices, and align AI regulation with broader sustainability goals
The EU’s new Batteries Regulation takes effect aiming to ensure that batteries have low carbon footprints, minimal harmful substances, and are collected, reused, and recycled extensively
Noteworthy Raises in E
🌎North America
Green hydrogen startup, Verdagy, a Monterey, CA-based developer of industrial hydrogen electrolyzers raises $73 million in Series B funding from Temasek, Shell Ventures, Bluescope Steel, and GAlp, among others
Clean energy startup, Equilibrium Energy, a Boston, Massachusetts-based next-generation clean energy company and developer of grid-scale batteries, raises $33 million of venture funding from Global Founders Capital, NJP Ventures and Breakthrough Energy
Carbon capture startup, Running Tide, a Portland, Maine-based developer of ocean-based carbon removal solutions, raises $54 million in Series B funding from Lowercarbon Capital, Foobar, Greenpoint Partners, Grantham, and Foundry Group, among others
SDGs - 13
AgTech startup, Fresh’n Crisp Farms, a West Valley City, Utah-based vertical farm producing baby leaf lettuce via hydroponics, raises $1.75 million of seed funding from undisclosed investors
Clean energy startup, GlassPoint, a New York City, New York-based operator of solar projects for industrial applications, raises $8 million of Series A funding led by 300PPM
🌍Europe
Sustainable materials startup, Bind-X, a Planegg, Germany-based developer of sustainable solutions for weed control in agriculture and dust control in raw materials industries, raises EUR 10 million of Series B funding from HG Ventures, Saxovent and K&K 1
Critical mineral startup, Cornish Lithium, a Penryn, UK-based lithium exploration and development platform, raises $67 million from the UK Infrastructure Bank, The Energy & Minerals Group and TechMet
Alternative protein startup, Meatable, a Amsterdam, Netherlands-based developer of cultivated pork products, raises $35 million in Series B funding Agronomics, Invest-NL, BlueYard Capital, BRIDFORD Group, Milky Way Ventures, and DSM Venturing
🌏 Asia
Circular economy startup, Matter, an Ahmedabad, India-based developer of microplastic filtration technologies, raises $10 million from S2G Ventures, Builders Vision, and SOUNDWaves
Climate FinTech startup, Erguvan, a Sariyer, Turkey-based carbon credit and RECs marketplace, raises undisclosed seed funding from Emirates NBD and Deniz Ventures
SDGs - 13
Noteworthy Raises in S
🌎North America
HealthTech startup, Daybreak Health, a San Francisco, CA-based online mental health platform for school districts, raises $13 million of Series B funding led by Union Square Ventures
SDGs - 3
HealthTech startup, VentoStent, a Houston, Texas-based developer of a novel medical device to improve outcomes for kidney dialysis patients, raises $16 million in Series A funding from Good Growth Capital and IAG Capital Partners
SDGs - 3
🌍 Europe
HealthTech startup, Thymia, a London, UK-based mental health platform using gamified AI tech to diagnose and track mental health conditions, raises $2.7 million in seed funding led by Kodori Ventures
SDGs - 3
FinTech startup, Pockit, a London, UK-based financial service platform aimed at supporting underbanked populations, raises $10 million led by Puma Private Equity
EdTech startup, Grasp, a London, UK-based online education platform for vocational skills, raises EUR 3.6 million in seed funding led by Balderton Capital
SDGs - 4
🌏 Asia, Middle East & Africa
HealthTech startup, Clafiya, a Nigerian-based virtual and in-patient care platform, raises $610k in pre-seed funding from Norrsken Accelerator, Acquired Wisdom Fund (AWF), Hustle Fund, and Voltron Capital, among others
SDGs - 3
EdTech startup, Vuihoc, a Vietnam-based, AI-driven e-learning platform for K-12 students, raises $6 million of Series A funding led by TNB Aura
SDGs - 4
HealthTech startup, What’s Up Wellness, a Gurugram, India-based developer of a diverse range of health supplements, raises Rs 14.40 crore in funding from Unilever Ventures
SDGs - 3
EdTech startup, YaSchools, a Saudi Arabia-based education management platform acting as a facilitator between schools, teachers, and students, raises $600k in seed funding from a group of angel investors
SDGs - 4
FinTech startup, Traction, a Nigerian-based merchant solution platform, raises $6 million of seed funding anchored by Ventures Platform and Multiply Partners
SDGs - 8
Noteworthy Raises in G
HealthTech startup, Venteur, a Berkely-California-based health insurance platform aiming to help employers better support their employees well-being and financial success, raises $7.6 million in seed funding led by GSR Ventures
Data security startup, Osano, an Austin, Texas-based data privacy management platform, raises $25 million in Series B funding led by Baird Capital
Latest Fund Announcements
London-based venture capital firm Transition launches a new fund to invest in startups that will operate within our planetary boundaries
The US Environmental Protection Agency launches a $14 billion National Clean Investment Fund to provide grants to national clean investment institutions and a $6 billion Clean Communities Investment Accelerator to provide grants to bolster clean financing in low-income communities
London-based Ocean 14 Capital announces an additional $33 million in funding to invest in blue economy technologies