📅 [12/28/20 - 01/10/21] DWDG "Weekly" Digest #13
original link: https://thegoodaipod.substack.com/p/-122820-011021-dwdg-weekly-digest
Jan 11, 2021
👋🏽 Welcome to Doing Well by Doing Good, a newsletter and podcast series highlighting the companies aiming to be profitable with a purpose.
Happy New Year and welcome to our FIRST “weekly” digest of the New Year!
We’ll catch you up on the latest in DWDG news, fundings, and jobs in the last two weeks. We’ll get back on our weekly cadence from this week onwards so stay tuned next week! Hope you enjoy!
DWDG News
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Investopedia highlights the fastest growing Green Startups at the start of 2021, showing a positive uptick in green investments coming into 2021.
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Kentucky Coffee Shop gives back to frontline workers with free coffee to thank them for their service.
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CNBC summarized 10 positive takeaways from 2020, and business innovation, diversity & inclusion, well-being, and education all made the list
DWDG Fundings
- AMP Robotics , a five-year-old, Louisville, Co.-based robotics company focused on the waste industry (its systems pick and sort recyclables), has raised $55 million in Series B funding led by XN. Other participants in the round include Valor Equity Partners , GV , Sequoia Capital , Sidewalk Infrastructure Partners , Congruent Ventures , and Closed Loop Partners. [VentureBeat Report]
Doing Good : AMP Robotics’ products directly contributes to reducing greenhouse gas emissions as they sell more of it
- Fluence , a 2.5-year-old, Arlington, Va.-based global battery storage joint venture of Siemens AG and AES Corp., has sold a 12% stake in its business to the Qatar Investment Authority for $125 million. [Bloomberg Report]
Doing Good : Fluence’s battery products are helping make sustainable energy more tractable and practical for clients reducing greenhouse gas emissions.
- Coral Vita , a five-year-old, Freeport, Bahamas-based based startup that aims to modernize both coral restoration techniques and the economy surrounding them, has raised $2 million in seed funding from Builders Collective , with participation from Apollo Projects and Washington Nationals pitcher Max Scherzer and his wife, Erica. [TechCrunch Report]
Doing Good : Coral Vita is building technology to facilitate coral restoration, directly preserving the coral reefs being destroyed by climate change, which sustains a number of sea creatures.
- NextStep , a three-year-old, Bozeman, Mt.-based health care education and job placement company, has raised $2.5 million in funding from ZOMA Capital , the ETF@JFFlabs impact fund and earlier backers Springrock Ventures and JAZZ Venture Partners. [Finsmes Report]
Doing Good : NextStep is helping vulnerable populations left behind by educational systems unable to help them overcome automation of their jobs by training them as Certified Nursing Assistants (CNAs) and placing them in jobs.
- Too Good To Go , a five-year-old, Denmark-based startup that invites customers to buy food right before it goes to waste, is raising a $31.1 million round led by Blisce. Earlier investors and employees are also participating. [TechCrunch Report]
Doing Good : Too Good To Go’s marketplace promotes and incentivizes reduced food waste among consumers.
- New Wave Foods , a five-year-old, New York-based maker of a shrimp alternative, has raised $18 million in Series A funding led by NEA , with participation from Evolution VC Partners , among others. [The Spoon Report]
Doing Good : As an alternative food company for shrimp, they hope to curb the negative effects of deforestation and destruction of mangroves which accompany increased shrimp production thus reducing greenhouse gas emissions with their product.
- Rivian , an 11-year-old, Plymouth, Mi.-based electric-truck startup, is close to raising a new round of funding valuing it at about 6 billion to date, including from Amazon, T. Rowe Price Group, BlackRock, Soros Fund Management, Coatue, Fidelity Investments and Baron Capital Group. Several of those backers are also participating in the new round, says the outlet. [Bloomberg Report]
Doing Good : Rivian’s electric trucks directly replaces gas guzzling alternatives reducing greenhouse gas emissions
- Syndio , a nearly four-year-old, Seattle-based company whose HR software helps to identify pay gaps, has raised $17.1 million in Series B funding. Bessemer Venture Partners led the round, joined by Next Play Capital , Concrete Rose Capital , Emerson Collective and Voyager Capital. [GeekWire Report]
Doing Good : Syndio’s core value proposition is to identify pay gaps with the intention of reducing them for their customers helping level the playing field.
- Air Protein , a two-year-old, Pleasanton. Ca.-based alternative meat company, has raised $32 million in Series A funding led by ADM Ventures , Barclays and GV. [FoodBev Media Report]
Doing Good : Air Protein like other alternative meat companies aims to reduce the heavy burden of meat production on greenhouse gas emission by replacing meats with more sustainable ingredients and manufacturing processes.
- SilviaTerra , a 10-year-old, San Francisco-based forestry company for organizations to exchange carbon offsets, has raised $4.4 million seed round. Union Square Ventures ’ climate-tech fund led the round, joined by Scribble Ventures , Gratitude Railroad , Alpha Edison , CoFound Partners and several high-profile individuals, including Salesforce founder Marc Benioff and Pinterest cofounder Ben Silbermann. [TechCrunch Report]
Doing Good : SilviaTerra’s tech-forward products enable landowners to put a number on the sustainability of forests and carbon offsets, incentivizing them to maintain forest land previously cut down for timber.
- BayoTech , a nearly six-year-old, Albuquerque, N.M.-based producer of on-site hydrogen for agriculture, fuel cells, and energy industries, has raised $157 million in funding led by Newlight Partners. It was joined by Fortistar and earlier backers Cottonwood Technology Funds and Sun Mountain Capital.
Doing Good : BayoTech produces on-site hydrogen using a more environmentally friendly process replacing higher carbon-emitting forms of hydrogen production.
- Hinge Health , a five-year-old, San Francisco-based startup that sells virtual physical therapy sessions for customers with back and joint pain, has raised raised 3 billion. [TechCrunch Report]
Doing Good : Patients most vulnerable to chronic pain are often the most neglected because many are low-income and outside of traditional coverages
DWDG Jobs
- WorkWhile [Seed]
Mission: “WorkWhile is on a mission to help workers earn a better living and live better lives”
Jobs: https://jobs.lever.co/workwhilejobs
- Umba [Seed]
Mission: “Umba is an African digital bank, offering free bank accounts and financial services to our customers”
Jobs: https://www.umba.com/careers
- Path AI [Series B]
Mission: “We work to improve people’s lives, one diagnosis at a time.”
Jobs: https://www.pathai.com/careers/
Until next week, listen to Lebron — stay safe and stay healthy!
✌🏽Anand