ImpactAlpha, March 16 — Los Angeles Cleantech Incubator is back women-led climate tech startups ChargerHelp and Repurpose. South L.A.-based ChargerHelp will use the investment to increase the uptime and reliability of its third-party repair service for electric vehicle charging station operators. The Black women-led company raised $17.5 million in Series A funding last month.
L.A.-based Repurpose, which makes plant-based and compostable tableware and trash bags, will use the investment to expand its business. Since it launched in 2010, it claims to have kept over 3.5 million pounds of plastic waste out of landfills. The investment by the incubator and fund manager will also help “create green jobs,” said ChargerHelp’s Kameale Terry and Repurpose’s Lauren Gropper.
Inclusive climate tech investing
LACI made the investment through its just-launched second impact fund, backed by limited partners such as former bodybuilder, actor and governor of California Arnold Schwarzenegger. The fund seeks to raise $30 million to back underrepresented women founders and founders of color in the growing climate tech ecosystem. The collapse of Silicon Valley Bank has rattled under-represented founders.
LACI in June last year raised a $6 million cleantech debt fund to provide loans of up to $250,000 to diverse founders.