This week, several sustainable startups announced they raised capital. What were the most interesting deals? In this article, we review the best startup deals of the week – October 24th.
The startups listed in this article reported having raised +$42 M this week. Let’s see who they are and what they are working on.
Sustainable startup deals of the week – October 24th
Monday – Vermut
Spanish startup Vermut closed its latest $1.5 M round this week. The Vermut app is designed to help retired people find a selection of activities suitable for them and meet new friends.
Retiring from work could lead to a very lonely life. In some cases, loneliness comes together with depression. Vermut, launched in 2020, thinks that the best way to help retired people is to match them with activities where they can still feel active and part of a community.
Thanks to this raise, Vermut is looking to expand abroad, especially in countries like the US where there are large communities of retired people that could benefit from this idea.
Tuesday – Agroshift
Agroshift just completed a $1.8 M pre-seed round. It is one of the largest rounds in Agritech in Bangladesh. This startup aims to shorten the agribusiness supply by connecting consumers and businesses to farmers.
This round was led by Shorooq Partners and Anchorless Bangladesh with the participation of Ratio Ventures, Sketchnote Partners, and Demand Curve founder Julian Shapiro.
The Agroshift app is where the matching happens. Through the app business and consumers can find farmers that have the products they need and can order directly. By doing this Agroshift removes the middleman between farmers and consumers and is able to reduce the cost of the products.
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Wednesday – Vara
German startup Vara announced it has raised $4.4 M. The company uses AI and machine learning to screen mammogram tests and find breast cancer at an early stage. This round was led VI Partners with the participation of EQT Foundation, and the family office behind one of Germany’s largest radiology providers, Med360.
According to the latest data available, breast cancer affects 2,261,419 women every year and causes over 650,000 deaths. It is the number one cause of death in women. Thanks to Vara this could change.
VARA technology – that with AI and machine learning become smarter every day – helps identify possible signs of cancer. And because it is an AI, it is able to process more data and images at the same time compared to humans. Furthermore, it also identifies patterns, and this could be crucial to detect early-stage cancer.
Thursday – Paebbl
Sustainable construction material Paebbl raised 8.8 M. The company produces sustainable construction materials by turning CO2 into stones.
This process – mineralization – is actually a natural process. It just takes a very long time. Thanks to Paebbl’s 20 years of research, the team has found a way to accelerate the process and create a carbon-negative raw material in just sixty minutes.
This material mixed with water and ground silicate rocks produces a powder that can be used as a filler in construction. It could also be used for a wide range of other applications.
Friday – Cresilon
Brooklyn-based biotech startup Cresilon completed a $25 M series A round. The company wants to increase production and hopes to expand the application of its hemostatic gel technology – the VETIGEL – to humans too. The round was led by Paulson Investment Company.
Stopping a bleed could save lives. VETIGEL has been used successfully already by veterinarians. It has now submitted clearance to the U.S. Food and Drug Administration for human use. The VETIGEL stops bleeding like a hemostatic gel but it is more practical and sustainable.
The main ingredients of the VETIGEL are algae. It is a super sustainable choice as the company uses only those that are washed ashore. In the video below you can see how VETIGEL works. It is very impressive.
Editor’s Note: The opinions expressed here by Impakter.com columnists are their own, not those of Impakter.com –In the Featured Photo: The stock market. Photo credit: Unsplash.