Expectations for greentech are rising as governments, investors, businesses, and consumers put increasing emphasis on environmental sustainability. Companies across industries are looking for ways to decrease their carbon footprint, water use, and environmental impacts. This is where green technologies are helping organisations meet more aggressive environmental and sustainability goals.
Reportedly, there is a surge in early-stage investment in greentech companies and technologies. In recent years, investors with over $60 trillion in assets under management have committed to invest in companies driving climate change. This includes big players such as Google, Meta and Microsoft carbon-free energy consumption targets continue to gain momentum.
As it is World Environmental Day on June 5, it is time to spread awareness. We have curated a list of greentech startups that are solving environmental problems with their sustainable solutions.
Cambridge GaN Devices
Founder/s: Giorgia Longobardi, Florin Udrea
Founded: 2016
Funding: $9.5M
Cambridge-based Cambridge GaN Devices has been created to explore and develop a number of unique opportunities in power electronics. It produces semiconductor technology using Gallium Nitride (GaN). While these components are small, their impact on the world is growing, and CGD was created to deliver the innovation that will help make the world greener.
In February 2022, Cambridge GaN Devices (CGD), secured $9.5 million funding in a Series A round.
Vaayu
Founder/s: Namrata Sandhu, Luca Schmid
Founded: 2020
Funding: $13.1M
Berlin-headquartered Vaayu is claimed to be the world’s first automated software for retailers to measure and cut carbon emissions in real-time. With proprietary AI and machine learning, the platform draws insights from production, sales and logistics to help retailers locate hotspots and benchmark carbon footprints. Also, it provides ways to lower emissions.
By 2030, Vaayu aims to help retailers reduce 1 gigaton of carbon emissions. In April this year, the real-time carbon footprint tracker for retailers, closed an $11.5 million seed funding round led by Atomico.
Xampla
Founder/s: Simon Hombersley
Founded year: 2018
Funding: £8.8M
Xampla is a spin-out from the University of Cambridge that makes natural alternatives to plastics. It is claimed to be the world leader in plant protein materials for commercial applications. Its next-generation material performs like synthetic polymers but decomposes naturally and fully without harming the environment. The company wants to replace single-use plastics used on an everyday basis.
It was awarded £1 million in funding from the UK Government’s innovation agency, Innovate UK, to scale up its technology and material processing.
Cheesecake Energy
Founder/s: Michael Simpson
Founded year: 2016
Funding: $1.3M
Another greentech startup is Cheesecake Energy from Nottingham is developing the world’s greenest energy storage technology. It lowers the cost of medium to long-duration energy storage, and turns renewable energy sources such as wind and solar into reliable, on-demand power.
In September last year, the UK-based energy storage startup raised £1 million in seed funding. The company planned to use the funds for the development of its manufacturing capabilities and its green energy storage system, eTanker.
MoA Technology
Founder/s: Liam Dolan, Clement Champion
Founded year: 2017
Funding: $62M
Another UK startup that has made its way to the greentech startups list is MoA Technology based in Oxford. It is a crop protection discovery company that uses high throughput in-vivo screening to identify herbicide candidates with novel modes of action.
The company has developed its own discovery platforms and is focused on the discovery of a new generation of sustainable herbicides from both natural and synthetic chemistry.
In March, the Oxford University spin out raised £35 million in Series B funding to tackle the growing problem of herbicide resistance with a new approach.
Diginex
Founder/s: Miles Pelham
Founded year: 2017
Funding: $58.6M
Diginex, a disruptive impact tech business from Hong Kong. It helps organisations address the world’s most pressing sustainability issues, utilising the latest blockchain technology to lead change and increase transparency. Its technology provides businesses who want to do better with the tools that both help them be more responsible, and realise the commercial benefits of ESG.
In 2021, the digital assets financial services company completed a $38.6 million private placement with certain institutional investors.
Ilika
Founder/s: Brian Hayden
Founded year: 2004
Funding: NA
Ilika is a pioneer in solid-state battery technology, enabling solutions for applications such as Industrial IoT, medtech, EV, and consumer electronics. It has developed pioneering solid-state battery technology using its proprietary technology. As a result, it has come up with safe and efficient batteries with a very small footprint.
In 2021, Ilika raised an additional £24.7 million from its investor base to develop and industrialise solid-state pouch cells for EV applications.
Circulor
Founder/s: Veera Johnson, Douglas Johnson-Poensgen
Founded year: 2017
Total funding: $19.5M
Circulor, a London startup uses blockchain and AI to cut the cost of traceability and due diligence in raw materials supply chains. Its pioneer customers include car manufacturers, EV battery manufacturers, commodity traders, and miners who collectively want to pioneer more effective approaches to responsible sourcing.
Circulor deals with supply chain transparency and helps companies, especially in the automotive sector. This venture capital firm is powered by Jaguar Land Rover and focuses on mobility.
In June 2021, the provider of supply chain traceability and dynamic CO2 tracking closed $14 million in Series A funding to accelerate the company’s rapid growth.
LifeSaver Power
Founder/s: Ant Ganjou, Archie Wilkinson
Founded year: 2017
Total funding: $422K
Lifesaver Power is another London greentech startup with the mission to offer fairer and cleaner power banks as part of the circular economy. Using sustainable materials, including products made from recycled plastic and reclaimed ocean plastic, the pocket-sized and lightweight power banks have in-built cables and are available online and at sporting and cultural events across the UK and US.
Bramble Energy
Founder/s: Tom Mason
Founded year: 2016
Funding: $53.6M
Headquartered in London, Bramble Energy powers a net-zero world. It is proving to be a game-changer in solving key challenges in the production of hydrogen fuel cells such as lead times, up-front investment, manufacturing cost and scalability.
It has developed a unique printed circuit board (PCB) fuel cell – the PCBFC. It utilises standardised cost-effective production methods and materials from the PCB industry to reduce the cost and complexity of manufacturing hydrogen fuel cells.
Earlier this year, the company raised £35 million in Series B funding to expand the deployment of its fuel cell stack technology commercially.
Greyparrot
Founder/s: Ambarish Mitra, Marco Paladini, Mikela Druckman, Nikola Sivacki
Founded year: 2019
Funding: $14.9M
Greyparrot, another London startup is an AI waste analytics platform for the circular economy. It is on a mission to increase transparency and automation in waste management and unlock the financial value of waste. Greyparrot provides waste analytics and new insights to waste managers, producers and regulators to increase recycling rates and introduce accountability to the waste value chain.
Last month, the Greyparrot picked up $11 million in Series A funding. It will use the funds to further its global footprint and expand to new waste types.
Magical Mushroom Company
Founder/s: Emma Brogi, Ollie Boyd, Paul Gilligan
Founded year: 2019
Funding: NA
UK-based Magical Mushroom Company combats the ever-growing plastic problem by harnessing the magic of mushrooms. It creates safe, sustainable and home-compostable alternatives to plastic foam.
It uses the natural flexibility and strength of mycelium, the material structure of fungi, to grow protective packaging at any scale by combining it with agricultural waste such as hemp and sawdust.
