What were the most interesting deals announced by sustainable startups this week – October 17th? In this article, we review the most interesting rounds completed in the last few days.
Since Monday, October 17th several sustainable startups announced they raised capital. Combined the startups listed in this article raised +$840M
Let’s see who they are and what they are working on.
Sustainable startups deals of the week – October 17th
Monday – Byjus
Indian EdTech startup Byjus raised $250M from its current investors. Byjus is India’s most valuable company with a valuation of $22B. The company offers courses to prepare students for undergraduate and graduate studies. It has over 150 million users.
The capital raise is certainly good news for Byjus as this week the company announced that will cut 5% of its workforce. Byjus, whose investors include Qatar Sovereign Fund, is looking to achieve profitability by the first quarter of 2023.
Tuesday – Treeline Biosciences
MedTech company Treeline raised $262M, the round was led by KKR. The company has now raised a total of over $473M. Treeline is developing innovative solutions that could fight cancer. The founders, Josh Bilenker and Jeffrey Engelman are both oncology experts.
Treeline was launched just 15 months ago. It has already over 130 employees working in several locations across the US and it is looking to expand the team even more.
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Wednesday – Landis
Landis announced to have raised $40M. This round was led by Google Ventures. The company is backed up by some notable investors including rapper and producer Jay-Z and actor and rapper Will Smith. This round follows the $165M round led by Sequoia last year.
Landis provides first-time home buyers with a scheme that allows them to choose the home of their dreams. Landis buys the home for them and then rents it to the future buyers for a maximum of 24 months. Part of the rent goes towards the downpayment for the house and helps build a credit score. Once buyers obtain the mortgage they can buy back the home from Landis.
Thursday – Hithium
Chinese energy storage startup Hithium raised $278M this week. The series B round led by ABC – Agricultural Bank of China – will support the company’s plans to expand its research and development. By 2030, 40% of global battery demand will come from China. Thanks to this round, Hithium which currently offers energy storage solutions for homes and commercial buildings could develop its business to other sectors as well.
Friday – Xurya
Indonesian solar startup announced to have raised 11.5 in their series A round. The startup that was backed up by prominent investors at its early stage – East Ventures (Growth fund), Saratoga, Schneider Electric, and New Energy Nexus – has seen unprecedented growth in its business.
Xurya rooftop solar panels are currently installed in 100 companies across Indonesia. A key to achieving this result was the decision of the Indonesian government to try to reach 23% of renewable energy power in the country by 2025.
As you can see in the cover picture of this article, Xurya Solar panels can cover every single space on a roof!
Editor’s Note: The opinions expressed here by Impakter.com columnists are their own, not those of Impakter.com –In the Featured Photo: Xurya Solar Roof. Photo credit: Xurya.
