Funding News – 23 April

by | Apr 23, 2021

Cquestr8 raises $300k to develop carbon sequestration solution

Durham UK-based Cquestr8 has raised $300K in seed capital to fund its carbon sequestration solution. Cquestr8 solutions target hard to decarbonise sectors including cement, lime, and steel production. The Cquestr8 process will both sequester CO2 leveraging natures largest carbon sink and, at the same time, provide ocean ecosystem co-benefits through the deployment of marine bicarbonate.

Steve Willis, co-founder of Cquestr8 said, “the world will need many carbon removal and sequestration channels to keep the atmospheric temperature rise below 1.5 °C and yet still keep essential industries operating. We are excited that our scalable solution will deliver 100% measurability, 1000 year+ permanence and significant environmental co-benefits, all at a very low cost. This investment helps us turn 2 years of research and design work into an engineering prototype supported by robust environmental science.” 

 Dott raises €70.4M to expand its micro-mobility services

The round, led by Sofina, a Belgium-based investment company, will be used to enhance the e-scooter company’s services, offer e-bikes and expand to Spain and the UK. Dott is also announcing a newly appointed Sustainability Board.

“We’ve shown in the first two years that we can offer a great service for users, good for the planet and good for European cities.” said Henri Moissinac, CEO, and co-founder said, “we think we have a winning formula now, combining operational excellence, hardware & software expertise, collaboration with city stakeholders and capital efficiency. Thanks to our new and existing investors, our aim is now to accelerate, serve more users and more cities, in the most reliable and affordable way possible”.

CluedIn raises $15m Series A to grow its enterprise customer base

The Master Data Management Platform will use the funds to continue building out its product, make key hires in sales, marketing and partnerships and drive further global expansion plans. The round was led by Dawn Capital. CluedIn’s platform uses a graph database to automatically infer connectivity straight from the data source. 

Tim Ward, CEO and Co-founder said, “it’s been a fantastic journey so far. We’re delighted to have gained the recognition of leading industry authorities and partners, and the endorsement of some of the most forward-thinking global customers. We can’t wait to use these funds to take CluedIn to the next level and to more customers globally who are looking for ways to unlock the value of first and third party data.”

Oxitec gets funding from the Wellcome Trust 

Oxitec is a developer of insect-based biological solutions to control pests. The $6.8m funding will be used to scale up programs for Oxitec’s programmes which targets diseases transmitted by Aedes aegypti – the yellow fever mosquito. In addition, the award will fund a large two-year area-wide pilot project in the São Paulo region in Brazil which will allow Oxitec to pilot these advancements in dengue-prone urban environments.

Grey Frandsen, Oxitec’s CEO, said, “We are immensely grateful for Wellcome’s partnership and support as we work to make our Friendly™ Aedes aegypti solution universally accessible to communities most in need around the world. We are pleased that the Wellcome Trust believes in this vision and shares in our aim to scale this technology as quickly as possible so we can deliver real impact in the global fight against dengue and other vector-borne diseases.”

Causal raises more funding to take on Excel

The $4.2m round is led by Accel, with participation from existing investors Coatue, Passion Capital, Naval Ravikant, and others. Causal’s vision is to replace spreadsheets as the de-facto tool for working with numbers, setting it up as a direct competitor to Excel.

Get Our Briefing Newsletter

* indicates required
Startup Spotlight – Minted

Startup Spotlight – Minted

With Europe’s FinTech market booming, we spoke to the CEO of Minted to hear more about how the platform is opening up access to buying and selling physical gold.

Startup Spotlight – Mention Me

Startup Spotlight – Mention Me

We spoke to Andy Cockburn, CEO and Co-Founder of Mention Me to hear more about how the referral marketing platform has accelerated it’s growth (hitting a landmark £1bn in client value earlier this), what lies ahead and how the marketing industry in Europe is changing.