Congruent Ventures, the early stage funding agency targeted on applied sciences and providers designed to avert the present local weather emergency, has raised $175 million in financing for its newest fund.
The agency, which now has $300 million in property below administration, is targeted on investing in pre-seed, seed and Sequence A rounds and was based by Abe Yokell and Joshua Posamentier, two longtime buyers within the local weather area with over twenty years of expertise investing within the sector.
“With the daybreak of a brand new administration devoted to infrastructure [and] local weather and a long-overdue inflow of capital in direction of urgent world points surrounding local weather change, we cowl the gamut with a portfolio of over three dozen corporations working in transportation, vitality transition, meals and agriculture to sustainable manufacturing and consumption,” Yokell wrote in an electronic mail.
Corporations within the portfolio embrace the mycelium meat producer Meati; Milk Run, a farm to desk meals market; PicoMES, which develops software program for environment friendly manufacturing; Parallel Methods, a developer of electrified, autonomous rail automobiles; Alloy Enterprises, which is an additive producer for aluminum; Hippo Harvest, which gives autonomous greenhouse rising methods; and Amp Robotics, a supplier of recycling robots to enhance efficiencies amongst hard-pressed waste recycling organizations.
The agency counts some excessive profile restricted companions like Microsoft’s Local weather Innovation Fund, associates of Prelude Ventures; the Jeremy and Hannelore Grantham Environmental Turst and Surdna Basis, together with UC Investments.
“Till very not too long ago, there was a complete dearth of early-stage capital targeted on local weather and sustainability,” stated Joshua Posamentier, managing associate and co-founder, Congruent Ventures. “We make investments on the earliest phases the place we can assist entrepreneurs keep away from a myriad of pitfalls, assist them construct sturdy corporations, elevate extra capital, and in consequence, deal with the world’s most urgent environmental issues in a number of the world’s largest sectors.”
One third of Congruent’s corporations are working instantly with vitality or civil infrastructure and will stand to gain tremendously from any infrastructure spending bill that could come from Washington. Past that, the agency’s restricted companions embrace infrastructure buyers with over $700 billion of property below administration which might be all potential prospects for the applied sciences developed by the agency’s portfolio corporations, the agency stated in an announcement.
Methods to repair air pollution, noise, and stress in cities utilizing solely crops
Turning present metropolis infrastructure inexperienced by putting in crops can filter out high quality mud and noise, cut back city warmth island results, and even cut back stress. All it takes is regreening 20 % of façades and rooftops for each fifth constructing in a metropolis.
That is a part of Rudi Scheuermann‘s daring inexperienced constructing envelope plan, which reimagines the connection between nature and structure with a view to create a extra sustainable and happier residing setting
Elon Musk is considering letting prospects purchase a Tesla with DOGE
Elon Musk actually, REALLY likes Dogecoin.
After endlessly shilling the joke cryptocurrency on Twitter, in interviews and on television, and after saying that his firm SpaceX will literally send a satellite named Doge-1 to the moon, Musk now appears to be contemplating including a DOGE fee choice to Tesla.
On Tuesday, Musk posted a ballot on Twitter, asking customers whether or not they need Tesla to just accept DOGE.
Would you like Tesla to just accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
At writing time, the suggestions is overwhelmingly in favor; with 1.4 million votes solid, 76.9 p.c have voted sure, and 23.1 p.c have voted towards it.
Unsurprisingly, the value of DOGE jumped instantly following the ballot, from about $0.46 to $0.55.
The concept should not be technically that tough to implement; in any case, Tesla is already accepting Bitcoin as payment, and DOGE is not basically very completely different from Bitcoin — although it’s price noting that Bitcoin is much extra ubiquitous on exchanges than DOGE.
Nonetheless, is there any level to this, past Musk persevering with to champion his favourite cryptocurrency, and inflicting its worth to spike? In all probability not, although DOGE is a wonderfully usable cryptocurrency which is used each day by hundreds of thousands, and though I doubt Tesla will see an enormous quantity of DOGE-facilitated gross sales, the true query right here could also be: Why not?
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