BOARDROOM
Carbon Equity raises €60mn in four months
Dutch climate investment platform Carbon Equity has closed its third climate-tech fund, following an 80% jump in assets under management in the past 12 months, it has announced. Some 160 investors have made contributions, and Carbon Equity plans to invest in seven to 10 climate tech funds across Europe and the US, supporting at least 150 companies. To date, Carbon Equity has raised €250mn from 900 investors, ranging from institutions to individuals. Its 18 funds support innovators in industries including meat alternatives, carbon accounting and sustainable aviation.
$14mn for AI to improve child mental health
Backpack, an AI-powered provider of childhood mental health care in the US, has announced a successful raise of $14mn in Series-A funding, led by PACE Healthcare Capital, it has announced. The platform uses advanced tracking algorithms to monitor users’ emotional states, matching them to therapists who specialise in their needs. Currently operating in Maryland and Virginia, the organisation plans to use this funding to expand into other states, and continue research. Robert Johnson, chief equity officer of Bezos Academy (set up by Amazon founder Jeff), has recently joined Backpack’s board of advisors.
Carbon removal expert Neustark raises $69mn
Swiss carbon-removal developer Neustark has raised $69mn as it aims to go global. Capturing CO2 from biogas production, Neustark injects carbon into recycled concrete, which is then used in construction of roads and buildings. This process captures the carbon for at least 100,000 years, even if the concrete is demolished. Currently working across 19 sites in Austria, Switzerland, Germany and Liechtenstein, plans are in place to build 40 more plants across Europe, before entering markets in North America and South-East Asia. The Carbon Dioxide Removal (CDR) market is growing rapidly across the world, but concerns remain as many solutions are untested on a large scale. Neustark is among those feeling the pressure, having sold over 120,000 tonnes of credits, whilst only 1,819 tonnes of CO2 has been captured to date.
Ten African startups receive $55,000 to accelerate blue and green economy
BFA Global, FSD Africa, and the International Union for Conservation of Nature (IUCN) have given the awards to innovative startups across seven African countries. The startups work across the blue and green economies, from the fish trade to waste management – and 50% of the cohort are women-led. Speaking to Ventures Africa, FSD’s Mary Kashangaki said, “Africa’s talent is at the heart of a successful green transition on the continent.” The startups will also receive guidance on scaling their solutions, with TECA and OceanHub Africa offering hands-on support.
