New op-Ed in Sifted by our Managing Partner Rob Genieser on how Europe is leading the sustainability revolution.
According to Rob, ‘”The next great wave of technological change will take place in Europe, driven by the need for sustainability. The push for sustainable change in Europe is not just wishful thinking – great entrepreneurs are, right now, working to enable it.
Net-zero companies in Europe – those who add no incremental greenhouse gases to the atmosphere – raised £2.1bn from venture capital funds last year, up 129% on the previous year, compared to a 16% increase for US companies and a 30% decrease for Chinese businesses.”
You can read the full article HERE.
Some excellent listening for your weekday enjoyment!
It’s a lively and enjoyable conversation between Ross Butler and our Managing Partner, Patrick Sheehan, discussing the importance of Sustainable Investing. In it, Patrick describes how ETF Partners has a long and successful history of working with founders and innovators who are making an impact!
Click here to listen!
According to recent figures, ‘Investment in European climate tech startups doubled last year, with renewable energy as one of the leading sectors.’
So what are investors looking for in renewable energy startups? The editorial team at Sifted recently spoke with several experts in this field, including a chat with our very own team member Fabrice Bienfait, Partner at ETF Partners, to find out.
According to Fabrice, “You cannot manage what you cannot quantify.”. “We have implemented a robust environmental impact management framework which we use to select the most impactful companies. We use impact KPIs to quantify, track and manage impact performance of our investments.”
You can read the full article on Sifted.
It’s here – our latest Medium blog featuring Jean Moreau, co-founder, and CEO of Phenix, the pioneering French smart food waste management leader!
In it, Jean shares insights into his experiences as a founder and details the company’s mission, to help the food industry reduce waste. The company’s vision is to use technology for good to solve the problem of wasted, unsold food produce and products.
You can read the full Q&A here: https://etfpartners.medium.com/a-new-model-that-focuses-on-both-social-and-environmental-issues-is-possible-a-q-a-with-56d5b51a697b?postPublishedType=repub
The first ETF Partners newsletter of 2021 is out now! It is chock-full of inspiring portfolio news, updates on where we’ve been in the media, and a nod to the Climate50 rankings.
This edition features news from The Modern Milkman, WorldSensing, Movinga, Eagle Genomics Ltd, E-Leather, Tomorrow, Cloud & Heat, Shippeo, to name just a few!
Check it out here to get your monthly dose of sustainability and innovation news (and sign up if you already haven’t!)
It’s always wonderful to see our team in the news!
This week, our Head of IR and Sustainability, Zoe VanderWolk, was quoted in a Forbes piece outlining the five market trends driving energy transition.
As usual, Zoe is spot-on in her assessment that we must focus on building back better to achieve net-zero targets, and investing in sustainability will ensure we can meet these exceptional goals.
You can read the full article here on Forbes.
It’s fantastic to see to our portfolio company, TravelTime, included the FT’s recent piece illustrating the Covid vaccination sites across England.
To calculate access to vaccination sites, the team at the Financial Times used data from TravelTime to ‘map the area around England’s vaccination sites that is accessible using different forms of transport’.
You can read the full article in The Financial Times.
Source: Financial Times
The world’s leading mobility tech provider closes new funding to further increase its market lead both in Europe and the Americas
Three years after announcing a $20 million USD financing round, Vulog has raised another $31 million USD from the European Investment Bank (EIB) and its current investors. The EIB is one of the world’s main financers of climate action projects. It invests in, among other things, initiatives aiming to reduce carbon emissions, including the offering of cleaner transportation solutions.
Vulog has established itself as the preferred technology partner for large mobility players, whether they are OEMs, insurance providers, rental operators, or energy companies. The upward trend is set to continue for the company in 2021. Eight new mobility projects are set to launch in the first three months of the year, including an exciting new mobility service expected to launch soon in New York City.
As a backdrop to this financing announcement, the increasing public awareness of the current climate emergency highlights the need for the public and private sectors to rapidly deploy mobility solutions that are green and inclusive.
Vulog’s platform has evolved from a carsharing platform to an all-encompassing ecosystem of tools covering all on-demand mobility needs, no matter the vehicle type (cars, bikes, scooters, mopeds, vans, etc.), target market (B2C and B2B) or use case (instant access, scheduled booking, subscription, or monthly mobility plan).
“We’re thrilled to continue supporting Vulog, and this latest round of financing will enable the company to continue its market leadership in the shared mobility space. The company’s ongoing success with mobility operators and automotive OEMs is a testament to its positive impact on the future of sustainable mobility.” Fabrice Bienfait, Partner, ETF Partners
Paris, France – January 14th 2021 – Shippeo, the European leader in real-time transportation visibility (RTTV), today announces a $32 million investment. This new round is co-led by Battery Ventures, a global, technology focused investment firm and existing investors (NGP Capital, ETF Partners, Partech and Bpifrance Digital Venture). Shippeo will use the investment to strengthen its market-leading position and continue delivering on product innovation.
The Covid-19 crisis has highlighted the need for supply-chain visibility, with major shippers across industries needing enhanced transparency more than ever before. With many countries in lockdown and with unpredictable border closures, companies with advanced visibility solutions managed to mitigate transport delays and the associated operational inefficiencies. Beyond tracking shipments, visibility platforms now give supply chains the data-driven transparency to meet varying customer demands in uncertain and challenging market conditions.
Despite the unprecedented global economic impact of Covid-19, Shippeo has more than doubled its subscription revenues year on year, while successfully increasing its customer base in 2020 with major industrial brands and fourth-party logistics providers such as Kuehne+Nagel, Total, Hager or Krone. Last October, Shippeo acquired the French company oPhone, bringing major customers in the retail and manufacturing sectors into its community. Finally, Shippeo’s total workforce has more than doubled in the last 12 months, now totaling 160 employees, of which 45% work in R&D.
The core of Shippeo’s software-as-a-service (SaaS) platform is an API that integrates with hundreds of transportation management systems as well as telematics products, ERP and electronic logging device technology, among other data sources, to provide real-time location data, delivery tracking and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA). Powered by Shippeo, companies can identify every pain point and inefficiency end-to-end across their global logistics operations and take action to optimize their processes. This results in lower transportation costs, increased customer satisfaction and more sustainable operations.
Critically, Shippeo empowers customers to seamlessly control their supply chain efficiency, offering companies the ability to consolidate customer loyalty, manage their carbon footprint and boost revenue.
Shippeo, which had previously raised $39 million since its founding in 2014, secured the new, $32 million investment from Battery Ventures and existing investors, NGP Capital, ETF Partners, Partech and Bpifrance Digital Venture to strengthen its market-leading position in Europe and continue delivering on product innovation.
Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said: “We are pleased to welcome Battery onboard and we are honored by its trust and confidence. The firm, founded in 1983, has a long track record of investing in prominent SaaS businesses in the U.S. and Europe and partnering with management teams to help them grow their businesses smartly. With Battery’s industrial reach and strong experience in the technology sector, Shippeo will carry out its main objectives: strengthening its leading position in Europe and boosting its edge over its competitors.”
Paul Morrissey, a Battery partner, added: “We are thrilled to partner with Shippeo to help the company grow. We have been tracking the company for several years and have always been impressed with its vision and team. Shippeo has built a leading, real-time visibility solution in Europe, serving a market that is one of the fastest-growing sub-sectors of the supply-chain software market. We believe the adoption of visibility software will only be accelerated in the wake of Covid-19. We have been impressed by how Shippeo’s management has executed to date, and we look forward to helping the team continue their success.”
Shippeo, the European leader in real-time transportation visibility, helps major shippers and logistics service providers leverage transportation to deliver exceptional customer service and achieve operational excellence. Shippeo’s Multimodal Visibility Network connects FTL, LTL, parcel, and container transport and integrates 700+ TMS, telematics and ELD systems using a unique API. The Shippeo platform provides instant access to real-time delivery tracking, automates customer processes and offers unmatched ETA accuracy thanks to a proprietary and industry-leading algorithm developed in-house. Global brands like Carrefour, Schneider Electric, Faurecia, Saint-Gobain and Eckes Granini trust Shippeo to track more than 10 million shipments per year across 70 countries.
13 January 2021, London, UK – ETF Partners (The Environmental Technologies Fund) today announces a £5m investment in The Modern Milkman (TMM), a fast-growth UK startup committed to building a more convenient and sustainable approach to grocery shopping. The Manchester-based business delivers convenient groceries from independent and local suppliers directly to customers’ doorsteps in returnable and reusable packaging.
The investment tallies with ETF Partners’ mission to fuel digital innovation in sustainable European start-ups.
TMM’s operational excellency, digitally advanced delivery platform and customer-centric approach has allowed the business to grow its revenue by 10x in 2020. With the new financing, TMM will expand beyond Northern England across the UK, fulfilling its target to help consumers shift away from single-use plastic and lead a sustainable lifestyle, without compromising on convenience. To date, TMM helped reduce more than nine tons of single-use plastic.
The funding decision follows a transformative year in the grocery industry, as demand for food deliveries soared as a result of the COVID-19 outbreak and an increasing number of UK consumers shopped online.
Simon Mellin, Founder and CEO of TMM, stated, “ETF was the obvious choice of investor for us and we’re thrilled to have their support as we move into the next phase of our journey. We believe their insight, skill and experience in the sustainability space will help us deliver the positive impact we strive to have on the environment at pace, as we move forward with our expansion plans across the UK over the course of 2021.”
Tomer Strikovsky from ETF Partners adds, “In today’s world, many of us are looking to reduce our environmental impact on the planet, but convenience remains key to daily life. In today’s world, many of us are looking to reduce our environmental impact on the planet, but convenience remains key to daily life. The team at TMM have masterfully responded to the ever-changing nature of consumer requirements, and thus have experienced significant growth over the past year.
We have full confidence that TMM will play an important role in changing how we consume food, and we continue to be impressed by the founders and their commitment to sustainability.”
About ETF Partners: ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Their funds come from institutional investors, global corporations and family offices. We create value by investing in and supporting great European companies that deliver Sustainability Through Innovation.”
About The Modern Milkman: The Modern Milkman started as a local milkround inspired by David Attenborough’s Blue Planet and the need to reduce plastic waste. As a purpose-driven business, we are committed to making a positive impact on the planet and the communities we serve. The Modern Milkman’s mission is to revolutionise consumer habits by delivering fresh ways to return and reuse packaging, shop ethically, and feel good about convenience. Our milkrounds deliver 3 times a week and are easily managed online through our tech, so that shopping sustainably is convenient and accessible.
Our Managing Partner, Rob Genieser, recently sat down with Emily Ehrgood Watt, host of the Innovator Chronicles, to chat about his entrepreneurial spirit and exciting career path.
And what an incredible journey so far!
Rob describes his truly global journey – starting in New York to Silicon Valley, then from Hong Kong to Europe, and delves into how today, he and the ETF team are helping some of the world’s most exciting companies deliver sustainability through innovation.
You can check out the full podcast here.
A wonderful new interview featuring our Managing Partner Patrick Sheehan discussing his career in venture capital and our firm’s core DNA – sustainability through innovation – with Andrew Romans, founder of 7BC Venture Capital
A link to the full interview is here, enjoy!