Here are five UK tech startups focused on making business and societal practices more sustainable and mitigating environmental impact.
The UK tech sector is seeing sustainability rise up the agenda as the country looks to achieve its 2050 net zero goal. Many sectors are looking to better mitigate environmental impact in the long run using digital capabilities, from traditional tech to energy and transport. And with business customers in all industries increasingly looking for alignment with their own values, as well as value in a business context, having measures promoting sustainability is no longer a nice to have.
To respond to the rising challenge of climate change, the UK government announced that over £65m in funding would go towards making green technologies more accessible and affordable globally, at the COP27 conference. It’s reported that the low carbon economy is currently worth over £200bn, with accelerated growth set to continue in the coming years.
Here are five UK tech startups that are focusing on mitigating environmental impact, with sustainability ingrained into their respective strategies.
Britishvolt
Headquarters: Northumberland and West Midlands
Industry: Manufacturing
Year founded: 2019
Funding status: Undisclosed
Total funding raised: $2.4bn
Britishvolt is a manufacturer of lithium-ion batteries for electric vehicles, with a view to also powering offices and homes with battery storage in the future. The startup is constructing a battery plant in Northumberland, and has a global headquarters in the West Midlands. With a large proportion of carbon emitted coming from fossil fuel-powered cars and other vehicles, Britishvolt is aiming to aid the UK’s sustainability roadmap.
With investment from the likes of Citibank and Scorpio Group, the company actively collaborates with research bodies including the Faraday Institute and the Warwick Manufacturing Group, to help stay on the right track regarding long-term sustainability.
>See also: How digital twins can boost EV battery life
Clim8 Invest
Headquarters: London
Industry: Investment
Year founded: 2019
Funding status: Undisclosed
Total funding raised: $18.4m
London-based Clim8 Invest is an investment platform that allows users to exclusively fund companies that demonstrate a focus on sustainability, in line with the UN Paris Climate Agreement. The platform, which is updated with new companies as well as omissions of those breaking sustainability promises, offers three products to users: a Stocks & Shares ISA; General Investment Account; and a Junior ISA. Green sub-sectors being focused on include green energy, mobility and water systems.
The startup’s lead investors include Channel 4 Ventures and 7percent Ventures. In addition, £2.4m was raised through the crowdfunding platform Crowdcube in 2020.
Emitwise
Headquarters: London
Industry: Artificial Intelligence
Year founded: 2019
Funding status: Series A
Total funding raised: $16.6m
AI startup Emitwise specialises in helping businesses manage their carbon emissions, for now and in the future. Using its software, businesses can accurately account for carbon emitted across all business units and operations, to see where they can better mitigate environmental impact. Accounting processes are automated, with workflows facilitated for real-time carbon footprint monitoring.
In terms of industries leveraging the software, Emitwise works with customers in the automotive, construction and logistics spaces, among other sectors. Based in London, the Series A company has 11 investors, including Xplorer Capital and True Ventures.
>See also: How the tech sector is measuring ESG impacts
Ev.energy
Headquarters: London
Industry: EV Charging
Year founded: 2018
Funding status: Series A
Total funding raised: $13.5m
Ev.energy is a smart charging software platform that electric vehicle drivers can use to track costs, energy and carbon usage. Additionally, connections can be made to solar power to cut further costs and impact on the environment. Businesses are also able to use the platform to scale EV-focused operations.
The startup collaborates with energy providers, EV and charger manufacturers and networks to deliver its intelligent platform. A B Corp-certified company — meaning certification of the highest standards of social and environmental performance — its key investors include ArcTern Ventures, Energy Impact Partners and Innovate UK.
Tred
Headquarters: Leeds
Industry: Fintech
Year founded: 2019
Funding status: Equity Crowdfunding
Total funding raised: $2.1m
Leeds-based fintech Tred provides green credit cards — made from recycled plastic from the sea — that can allow users to track the environmental impact of their consumer habits, and reduce impact accordingly. An app allows for tracking of every transaction’s CO2 emissions, making the interface personalised by design.
With B-Corp status in the works, investment gained by Tred has come from Crowdcube and Grow Cafe Investments. The startup is also a member of the 1% for the Planet scheme, which invites all members to donate 1 per cent of all sales to environmental causes.
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