Our review of the best startup deals from December 5th starts with Einride. The Swedish startup announced it raised over $500M, which is the largest deal of this week. There were also other interesting rounds in the agri-food sector which covers three-fifths of this week’s review, including startups such as BeeHero, Naio Technologies, and Black Sheep Foods. Combined startups from this week raised over $590M.
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Sustainable Startup deals – December 5
Monday – Einride
Swedish autonomous and electric truck startup Einride raised 500m. The round included investments from Northzone, EQT Ventures, Temasek, Swedish pension fund AMF, Polar Structure, and Norrsken VC as well as $300 million in debt funding by Barclays Europe.
Einride trucks are already able to run autonomously – without drivers – powered by their electric motors. Unfortunately, regulations are not up to date with this kind of innovation and this is forcing Einride to first start human-driven electric trucks.
The company will use these new funds to launch in other EU countries including Germany, Belgium, Netherlands, and Luxemburg, as well as in its nordic neighbor Norway too.
Tuesday – Ostrom
Berlin-based Ostrom raised 4.4M. Investors in this round include Adjacent Ventures, and Union Square Ventures, as well as investors that have participated in the previous round: 468 Capital, J12 Ventures and Übermorgen Ventures.
Ostrom energy management platform makes green electricity affordable and simple for households. Consumers are able to track their energy consumption and control their tariffs via the Ostrom app. The company at the moment offers only a single flexible monthly tariff. This will, however, change once Ostrom will launch its smart meters. The german startup has also electric vehicle charging stations and a B2C energy platform in the pipeline.
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Wednesday – BeeHero
BeeHero raised 42M in its Series B round. The round was led by Convent Capital with the participation of General Mills venture capital firm 301 Inc., ADM’s Cibus Capital, Rabobank, and others. The company combines its knowledge of beekeeping and its impact on crop pollination with the most modern technology.
Currently, 70% of crops worldwide rely on bees for pollination. Bees increasing mortality rate along with other issues they are facing because of the consequences of climate change puts serious trouble on farmers and beekeepers. Furthermore, it puts at risk the entire global food supply chain.
Thanks to the BeHero platform, beekeepers and farmers are now able to monitor remotely both the hives and track crops growing. Data analytics and artificial intelligence allow farmers to make the right decisions to increase crop yield.
Thursday – Naio Technologies
Naïo Technologies raised $33M. The round was led by Mirova with the participation of the Ecotechnologies Fund, Capagro, Demeter, Pymwymic, and Codema. Regional funds M Capital and ARIS Occitanie joined as new investors.
Naïo Technologies develops robots for agriculture, working closely with farmers and winegrowers. These solutions can tackle labor shortages, reduce physical strains, and help to reduce soil erosion and the carbon footprint of farming and herbicide use.
Naïo Technologies is the first manufacturer to provide a range of four robots. Thanks to this new round, Naïo Technologies will accelerate its international expansion and more than double its fleet in operation over the next two years
Friday – Black Sheep Food
The last startup from December 5th review is US-based Black Sheep Foods. The company raised $12.3m in its Series A funding. The round was led by Unovis, with participation from Bessemer Ventures Partners, AgFunder, and KBW Ventures. The company is looking to launch the first plant-based lamb meat. The funding will help scale up production. The total capital raised by this alternative protein company now reaches a total of over $18M.
Editor’s Note: The opinions expressed here by Impakter.com columnists are their own, not those of Impakter.com –In the Featured Photo:Startup Office. Photo credit: Unsplash.
