UK green investment platform Clim8 raises £1.35m
Clim8 Invest, a UK-based platform where users can invest in clean technology and renewable energy, has landed £1.35 million in a pre-launch crowdfunding campaign.
The raise attracted 1,200 investors on Crowdcube, including board directors on unicorn fintechs such as Monese’s Marcus Exall and N26’s Marcus Mosen.
Venture capitalist fund 7percent Ventures – where Clim8’s founder Duncan Grierson used to work as a partner – also added a boost to the round, increasing the total raised by Clim8 to date to £2 million.
7percent Ventures’ founding partner, Andrew J Scott, says it “only invests into start-ups that have the potential to be billion-dollar companies”.
Due to launch sometime in the summer, Clim8 will offer users a targeted portfolio of publicly listed companies which are already making an impact in tackling climate change.
Sectors covered in the portfolio will include clean energy, clean technology, sustainable food, smart mobility and recycling.
“We are very excited to have exceeded our funding targets,” says Clim8’s CEO Grierson, referring to its initial goal which was outdone by 300%. “[It] confirm[s] strongly that investors believe that sustainability investing is a growth sector.”
The head of the United Nations said recently that the economic recovery post-coronavirus is “a real opportunity to do things right for the future” in terms of climate change, as it offers a re-set button for many companies around the world to review truly necessary carbon emissions.
In the meantime, the world’s coronavirus lockdowns are helping to clear the air. The International Energy Agency (IEA) forecast that carbon dioxide emissions emitted from the world’s smokestacks and tailpipes are projected to plunge by 8% this year.