Impact deals that came across our desk this week:
Disability-lens investing. Mindset Care, a maker of AI-enabled tools to streamline access to Social Security Disability Insurance, raised $13 million.
Energy transition. Chicago-based Grid Status raised $8 million to provide better analytics and data insights to grid operators and other energy professionals… CruxOCM raised $17 million to deploy its “co-pilot” technology for energy-efficient control rooms… Infrastructure investor Nova Infrastructure acquired UGE International, a community solar and battery storage owner-operator… Keppel, Asian Development Bank and Enterprise Singapore mobilized $800 million for clean energy in Asia… London’s Piclo raised fresh capital from energy customers for its power marketplace… Swedish investor EQT acquired KJ Environment for recycling and waste-to-energy in Korea.
Fund news. KawiSafi’s gender-inclusive climate fund got $10 million from the African Development Bank… Mumbai-based Ankur Capital received backing from British International Investment and MacArthur Foundation for its third fund.
Green bonds. World Bank’s Amazon reforestation-linked outcome bond attracted $225 million.
Impact jobs. Impactpool, a Swedish AI-powered career platform that connects professionals interested in development and humanitarian work with impact employers, snagged $4 million in a Series A round.
Inclusive finance. Efficient Capital Labs secured $11 million to provide revenue-based financing for cross-border software innovators… Nigerian cross-border payments company Waza raised $8 million in a mix of debt and equity, including financing from Y Combinator and impact-focused Norrsken Africa, to help African businesses send payments to global suppliers… Pepea, an East Africa-focused inclusive finance fund managed by Goodwell Investments, made its first investment in Gaea Foods, a women-led potato processing enterprise in Nairobi.
Low-carbon transition. Estonia’s UP Catalyst secured €2.3 million ($2.6 million) to build a facility to convert CO2 into graphite and carbon nanotubes that can be used in battery production… Fortera raised $85 million for commercially scalable low-carbon cement… Germany’s Root clinched €8 million ($8.9 million) for software that helps food and beverage companies estimate, track and manage greenhouse gas emissions across their supply chains… Just Climate invested $150 million in Continuum Green Energy to reduce industrial emissions in India… UK-based Promethean Particles clinched £8 million ($10.3 million) in Series A funding, led by Aramco and Mercia Ventures, to make metal-based materials for carbon capture and storage.
Milestone. Local Initiatives Support Corp. surpassed $200 million in Impact Notes.
Return on inclusion. The Native CDFI Network, Chehalis Tribal Loan Fund and the Institute for Native Pacific Education and Culture secured a combined $780,000 in grants from the US Small Business Administration to facilitate access to capital and technical assistance for Native-led microenterprises.
Water. In North Carolina, majority-minority Sanford raised $21.9 million to upgrade water infrastructure… London-based M&G Investments’ £5 billion ($6.5 billion) sustainable investment group Catalyst backed Livpure, an Indian company whose products include subscription-based water purifiers. M&G backed the company for its efforts to “reduce the cost of access to clean water.”
