Agriculture & Food

Adamo Foods (2021) develops whole-cut meat alternatives made from fungi. Their beefsteak alternative is produced through a fermentation process that results in long, densely packed fibers of mycelium that mimic the muscle structure of whole-cut meat.

On August 21^st, De Novo Foodlabs raised $2.5M in Seed funding from UK Innovation & Science Seed Fund, Joyful Ventures, Beeches Group, SFC Capital, Katapult, SHAKE Climate Change Accelerator, Rothamsted Research and Innovate UK.

The funding will help to scale up Adamo’s whole-cut products to pilot scale in preparation for commercialization. Adamo is also looking to expand its product range to include chicken breast alternatives, which this new tranche of funding will support as well. 

Energy & Power

Flower (2020) provides software management services for battery energy storage infrastructure.  They combine their technology with flexible energy assets to maintain reliable input and output into the grid, using AI-powered software to refine the predictability of energy systems against demand.

Flower raised $27.5M in Series A funding on August 15^th from Zebki Invest and 82an Invest.   The round was led by Northzone partner PJ Pärson, who joined Flower’s board of directors following the funding round.  

The round will support further development of their energy management assets, as they expect to grow their revenue by 5x in 2024 following their acquisition of a large battery park in Sweden.

Materials & Chemicals

Guidewheel (2016) is software developer working to improve manufacturing equipment optimization and reduce energy and emissions. Its AI-powered platform, FactoryOps, uses non-invasive sensors to connect factory floor machines through their power draw, allowing for optimized production time, performance and energy tracking/management.

Guidewheel’s August 13^th Series B round raised $31M in funding from Blackrock and Temasek’s Decarbonization Partners Fund with participation from new investors Rethink Impact and GSBackers. Existing investors Greycroft Partners and Breakthrough Energy Ventures also contributed to the round alongside other undisclosed investors.

The capital will be used to scale FactoryOps through expanding its operations and development efforts. Guidewheel has recently acquired a number of key customers, including General Motors, Igloo, Kimberly Clark, JELD-WEN, DRiV/Tenneco, CEMIX, TricorBraun, Reliance Steel & Aluminum, Madison Industries, BorgWarner, U.S. Steel, Berry Global, Myers Industries, and Johnson & Johnson.

Resources & Environmental Management

Optiml (2022) develops software for real estate owners and consultants to determine the best cost and CO₂ strategies for their buildings. Optiml’s software analyses portfolio assets across the most relevant ESG and regulatory data points to provide real estate developers and asset managers with a rating.

On August 21^st, Optiml raised a $4M pre-Seed extension round from Kompas VC and Bitsone Capital.

The round will be used to accelerate the development of the technology and expand its team to serve the increasing customer demand in the DACH region and the UK. Optiml has completed 30 successful pilot projects to date with AXA, Credit Suisse, and Grosvenor among others.

Transportation & Logistics

Ather Energy (2013) is a smart electric scooter developer. Since developing India’s first smart and connected electric scooter (Ather’s 450 product line), they’ve expanded their product offerings to include the Ather Rizta, Ather 450X, Ather 450S, as well as public and private charging Infrastructure.

Ather raised $71M in Growth Equity from the National Investment and Infrastructure Fund, securing unicorn status with a valuation at $1.3B.

The investment will support market expansion through reinforcing its manufacturing setup and broadening its product offerings. It plans to use its third manufacturing plant in Aurangabad to manufacture its electric scooter developed for families. 

Waste & Recycling

The Rounds (2021) is a developer of a milkman delivery service model for single-use plastic containers. Their service offers subscriptions to weekly bundles of household basics, personal care items, pantry staples and dry goods, as well as items from local bakeries, coffee roasters or other sellers, delivered in reusable bags and refillable containers.

On August 22^nd, the Rounds raised $24M in Series B funding from Moderne Ventures and FJ Labs.  The round was accompanied by the announcement of new features for customers, including one-time purchasing capabilities and the choice of a delivery day.

The funds will be used to scale its AI-powered service, and to pursue growth in existing markets and launch it to new markets, as well as to expand its team across machine learning, data science, and executive leadership areas. The company has saved over one million pounds of packaging to date.