PALO ALTO, Calif., Feb. 16, 2024 — WovenEarth Ventures held the final close of its first fund, WovenEarth Fund I at $152M on January 31st, hitting its hard cap. WovenEarth’s mission is to seek attractive, risk-adjusted returns while moving compelled capital into US early-stage climate tech venture, providing highly diversified exposure to the sector via a focused, carefully crafted fund of funds with differentiated access.
This new fund seeks to break down the barriers to investing in US early-stage climate tech, which remains difficult for many investors to enter due to the dynamic, technical, and emerging nature of the space.
WovenEarth draws on the decades of experience that founder Jane Woodward has accrued building portfolios of early-stage risk in the energy industry. Jane is complimented by two partners, co-founder Mauricia Geissler, the former chief investment officer of Amherst College, and Denise Miller, an energy transition strategist, and four other team members as well as expert senior advisors.
Since 2022, WovenEarth Fund I has invested with 13 US-based early-stage climate tech venture fund managers that are generalist investors focused on decarbonization, as well as managers that have domain-focused funds on specific climate tech sub-sectors such as wildfire, water, agriculture, or digital solutions.
WovenEarth Fund I is largely committed to underlying funds and seeks to ultimately provide exposure to over 300 underlying portfolio companies. In addition, the fund also opportunistically coinvests directly in companies often with unique access.
Jane has been an educator at Stanford for more than 30 years and investor education is central to WovenEarth’s strategy. She brings her knowledge to WovenEarth investors through curated quarterly workshops featuring venture managers from WovenEarth’s portfolio along with select portfolio companies.
About WovenEarth WovenEarth’s mission is to seek attractive, risk-adjusted returns while moving compelled capital into US early-stage climate tech venture, providing highly diversified exposure to the sector via a focused, carefully crafted fund of funds with differentiated access.
Global Millennial Capital pioneers the Profit with Purpose methodology of Harvard Business School in partnering with exceptional entrepreneurs.
BOSTON, Feb. 16, 2024 — Global Millennial Capital Ltd., (“GMCL”) an award-winning venture capital fund that uses a data-driven research approach to identify investment white spaces in the global technology sector and reduce investment bias, announced the close of its first $20 million fund as part of an oversubscribed private subscription round. Anchored by the Qatar-based Al Attiyah family office, with participation from various Gulf-based and international investors, the venture capital fund will invest in technology businesses that are exponentially scalable, IP-focused, and led by extraordinary entrepreneurial talent.
Image of Andreea Danila All Rights Reserved Global Millennial Capital Ltd.
GMCL was established in 2021, amid the global COVID-19 pandemic, to invest in technology businesses with unique access to leading academic institutions, incubators, accelerators, and corporate venture capital firms. The firm uses a research-driven model to augment its deal-origination capability and to automate the initial assessment of startup features, which is GMCL’s unique value proposition.
The emerging venture capital investor brings a lucrative yet “contrarian” perspective to identifying global themes and investment trends in the technology sector. GMCL has invested in a portfolio of fifteen early-growth technology companies operating in disruptive sectors, as decentralized finance, blockchain technologies, software, and fintech, that embody the prospect of design thinking and innovation in digital economies. At completion, GMCL will have invested in around thirty-five companies with access to unlimited capital towards follow-ons.
The senior members of the management team have previously invested and exited funds with similar strategies and realized paths to exit over a realistic timeframe. The Advisory Board of the fund is composed of industry leaders with more than one hundred years of combined investment experience, bringing solid credentials in the areas of strategic advisory and asset management projects exceeding $6 billion.
Andreea Danila, the General Partner and Member of the Investment Committee holds an impressive record of executing various fund management mandates, spanning venture capital, mezzanine, credit, and private equity. Andreea has previously invested in fifty early-growth technology companies and advised on more than twenty mid-market transactions in the technology and consumer sectors.
GMCL, a member of the Impact Finance Research Consortium, pioneers a data-driven innovation and Profit with Purpose investment model for venture capital funds by introducing the utilization of innovative impact metrics supported by robust research completed by innovative software. By quantifying the tangible and intangible effects of early-stage investments during the hyper-scalability cycles, industry stakeholders can discern not only financial returns but also impact metrics such as social and financial inclusion indices, thereby forming a strong thesis for our impact-driven founders building scalable technology companies that can change the way consumers, companies and governments interact in the new digital economy.
DISCLAIMER: GLOBAL MILLENNIAL CAPITAL LTD. (PIF) IS A VENTURE CAPITAL FUND REGISTERED WITH THE BRITISH VIRGIN ISLANDS FINANCIAL SERVICES COMMISSION WITH FUND NUMBER 2037148. NO PART OF THIS ARTICLE IS INTENDED TO BE OR MAY BE RELIED UPON, AS INVESTMENT ADVICE, INVESTMENT RECOMMENDATION, AN OFFER TO SELL, OR THE SOLICITATION OF ANY OFFER TO BUY, ANY SECURITY OR ADOPT ANY INVESTMENT STRATEGY. GLOBAL MILLENNIAL CAPITAL LTD. (PIF) IS NOT A REGISTERED INVESTMENT ADVISOR.
MIAMI, Feb. 15, 2024 — Paydit, the leading collections automation platform, and LoanPro, the API-first modern lending and credit platform, are excited to announce a new strategic partnership aimed at improving collections and recovery rates for lenders. This integration provides a seamless solution for lenders to manage past-due accounts, automate collections, and help consumers get back on track with their loans which ultimately decreases default rates and increases margins for lenders.
Rising default rates and decreasing margins continue to be growing concerns for all types of lenders. In 2023, default rates for personal lenders rose by approximately 20% and margins for financial institutions plummeted by approximately 30%.
This strategic partnership addresses these concerns by allowing lenders to seamlessly send past-due accounts between LoanPro’s modern credit platform and Paydit’s powerful collections platform, which utilizes advanced automation technology to streamline the collections process. This integration enables customers of LoanPro and Paydit to receive the best of both worlds in a streamlined approach to loan servicing and collections by minimizing manual work and increasing operational efficiency.
“We are thrilled to partner with LoanPro and offer lenders an integrated solution that can save our mutual customers time and resources while improving collections performance,” said Richard Formoe, Co-Founder and CEO of Paydit. “Our platform’s unique approach to collections management, combined with LoanPro’s robust loan management and servicing capabilities, provides a comprehensive solution for lenders looking to optimize their loan recovery process.”
“LoanPro is committed to providing customer delight and our partnership with Paydit enables us to offer even greater value to our mutual customers by reducing risk and increasing operational efficiency,” said Rhett Roberts, Co-Founder and CEO of LoanPro. “We are confident that this strategic partnership will empower lenders to improve their recovery rates and help consumers get back on track with their financial commitments.”
About Paydit Paydit is the #1 collections automation platform for lenders that instantly streamlines their collections process and improves recovery rates. By utilizing artificial intelligence and advanced automation technology, Paydit’s platform enables personalized communication cadences & strategies with a user-friendly interface that enhances the collections experience for both lenders and consumers. For more information, visit https://www.paydit.com
About LoanPro LoanPro is the market-leading modern lending and credit platform enabling lenders to innovate quicker, driving account growth while optimizing operational efficiency. Today, 600+ financial organizations use LoanPro to transform their borrower, agent, and back-office experiences. LoanPro’s mission of providing the platform to innovate the future of finance currently is enabled through its composable architecture, allowing lenders to enhance their origination, servicing, payments, collections, all built on the foundation of a modern lending core. For more information, visit https://www.loanpro.io/.
Investment Strategy Will Focus on Accelerating Treatments and a Cure
PHILADELPHIA, Feb. 15, 2024 — Beyond Celiac, the leading catalyst for a cure for celiac disease, today announces the creation of Beyond Celiac Investments (BCI), an investment program to accelerate the development of treatments and a cure for celiac disease by leveraging the speed and scale of venture capital and capital markets. BCI launches with an initial funding of $2 million and additional capital will be raised through donations.
“Our research has uncovered no venture funds with a specific focus on celiac disease or autoimmune disorders, though many venture funds invest in companies that have the potential to address it,” Alice Bast, President and CEO, Beyond Celiac, notes. “Our plans for BCI are to invest significant resources to identify promising treatments under development as well as those that have been investigated or approved for other purposes that also might benefit celiac disease patients. Our scientific and business expertise in selecting and supporting these treatments reduces risk, cost and time to market for potential celiac disease treatments,” she adds.
BCI is using the Development Catalyst business model, designed to increase development and commercialization activity across the Celiac treatment spectrum. The model enables drug development through nonprofit means. Using donated funds also means that all financial returns from BCI’s investments return to Beyond Celiac to be used for future investments and grants to benefit Beyond Celiac’s cure acceleration mission and celiac disease population.
Because BCI uses donated funds through a venture philanthropy model, investing can begin immediately. “BCI’s Development Catalyst investment strategy will focus dollars where we can have the greatest impact on the most promising investments. We are building relationships with targeted venture capital firms and corporate venture capital efforts at pharma companies that understand the unique role that both Beyond Celiac and Beyond Celiac Investments can play in sourcing, due diligence and supporting scientific and commercial success of portfolio companies across pre-commercial and commercial stages,” Bast explains.
The Beyond Celiac Investment Team includes Alice Bast, President and CEO; Jordan Dubow, M.D., Chief Medical Officer; Debra Silberg, M.D., Ph.D., Chief Scientific Officer; and Eric White, Fund Manager.
BCI fulfills the fourth phase in the Beyond Celiac Science Plan, developed in 2021 to drive the search for a cure by 2030 so that the 3.2 million people diagnosed with the disease can live healthy lives and eat without fear of gluten exposure. The Science Plan has four scientific priorities: evidence generation, translational research, clinical trials and drug repurposing. The first three phases of the plan are well underway and the drug repurposing priority is now expanded to include investments in all types of treatments. Beyond Celiac is the nation’s top recruiter for celiac disease clinical trials and works with pharmaceutical companies to ensure that trials are designed with the patient perspective in mind. Beyond Celiac is the largest 501(c)3 celiac disease research grant funder, including five research grants totaling $1.6 million in 2023.
About Beyond Celiac Founded in 2003, Beyond Celiac is the leading catalyst for a celiac disease cure in the United States, serving as a patient advocacy and research-driven organization working to drive diagnosis and accelerate the discovery of new treatments. By engaging with the top scientists in the field, making the right investments in research and supporting the broad community of those with celiac disease and gluten sensitivity, Beyond Celiac envisions a world in which people can live healthy lives and eat without fear – a world Beyond Celiac. BeyondCeliac.org
The funding will enable Arch to grow its engineering team, reach new customers, and make heat pumps the clear financial choice for contractors and homeowners
SAN FRANCISCO, Feb. 15, 2024 — Arch, a data intelligence platform for HVAC contractors, announced today that it has raised $6.2 million in seed funding from Gigascale Capital, Coatue, Floodgate, ReGen Ventures, and MCJ Collective. The investment comes as a fast-growing majority of Americans want to electrify their homes amid a shortage of installers and high upfront costs. Arch aims to ease both by transforming the sales process and making heat pumps the obvious financial and performance choice for contractors and homeowners. The company will use the funds to grow its engineering team and expand its customer base in the Northeast and California.
Arch Secures $6.2 Million to Accelerate Heat Pump Installs as Households Grapple with Energy Prices
Contractors typically face time-consuming sales processes and low conversion rates, spending 80% of their time on leads that won’t convert, a cost-shared across every installed heat pump. Arch’s System of Intelligence for Revenue Generation integrates data from over 12 sources across internal (e.g., CRM, ERP) and external (e.g., satellite real estate footprints) and uses proprietary algorithms to offer intelligence beyond workflow automation. The platform enables contractors to quickly analyze homes, optimize heat pump systems, and will soon include savings calculations. With these insights, Arch will unlock competitive point-of-sale financing and further boost contractors’ sales.
“I was a solar installer myself, have been on the road with contractors, and know how frustrating it is to invest time upfront and miss out on a sale,” said Phil Krinner, Co-Founder and CEO of Arch. “Heat pumps are currently a black box. By providing insights to contractors, homeowners, and financiers, we’re helping them translate heat pumps into a financial opportunity.”
Electric heat pumps are outselling gas furnaces as consumers navigate roller coaster energy prices, increasingly frequent heatwaves, and take advantage of federal, state, and utility incentives. This critical decarbonization technology cools and heats with significantly lower carbon emissions compared to traditional air-conditioners and furnaces that rely on fossil fuels. Analysis by RMI indicates that replacing a gas furnace with a heat pump can reduce up to 93% of climate pollution.
Rewiring America’s analysis suggests that the Inflation Reduction Act (IRA) will provide American households with an average of $10,600 for full electrification, saving them an average of $1,800 annually on energy bills. In September 2023, a coalition of 25 states, representing 55% of the U.S. population, committed to installing 20 million residential heat pumps by 2030. The International Energy Agency estimates that the U.S. must invest $160 billion annually by 2030 to meet its goals.
Arch is designed to help contractors capitalize on increasing demand by making their work more efficient. It cuts down the time spent on paperwork, site visits, and creating estimates. The platform works similarly to Aurora Solar and is well-placed to benefit from the expected growth in the HVAC sector, which is predicted to grow rapidly like the solar industry. Once a system is designed, the goal is for contractors to use Arch’s savings forecast to provide homeowners with a clear view of a heat pump’s long-term return on investment. Additionally, Arch plans to provide its comprehensive insights to lenders to unlock the industry’s most competitive point-of-sale financing.
“Between falling technology costs, energy volatility, and compelling incentive – heat pumps are becoming a no-brainer for households looking to save money,” said Victoria Beasley, Partner at Gigascale Capital. “The Arch team is well positioned to take advantage of an exponential growth curve in heat pumps that is set to mirror the growth in solar.”
“Arch’s data intelligence platform seeks to solve an important piece of the heat pump installation puzzle for HVAC contractors,” said Jaimin Rangwalla, Senior Managing Director at Coatue. “We are excited to partner with Arch in this new era of climate-conscious HVAC solutions and we look forward to supporting them on their mission to transform the $126 billion HVAC contractor market in the US.”
“Arch is revolutionizing the way we work,” says Scott Arnold, founder of RYCOR. “Having implemented Arch across all our locations in the Northeast and leveraged Arch’s innovative home analysis, automated design, and estimate generator, we’ve made our sales process more efficient. Integrating Arch into our workflow has been a game-changer for growing our business. We are proud to partner with Arch.”
Arch is additionally backed by notable angel investors, like Chris Hopper and Sam Adeyemo, the cofounders of Aurora Solar. To date, Arch has processed over $4 million of heat pump sales through the platform and expects that amount to be 10x or more in 2024. For more information, please visit https://www.getarch.com.
About Arch
Arch helps HVAC contractors grow their businesses and pioneer the future of home electrification. The Arch System of Intelligence streamlines lead generation, system design, and financing to increase conversion rates. Led by co-founders Phil Krinner and Sacha Schmitz, the San Francisco company brings together expertise in large-scale solar projects and advanced software development. Arch is currently available to professionals in the Northeast and California. For more information, visit https://www.getarch.com.
Funds to Support Accelerating Demand of the Vatom Platform. Partners such as Deloitte, Visa, P&G, Dentsu, Google, Pepsico, and other Fortune 500 companies driving record-breaking growth of the company
VENICE, Calif., Feb. 15, 2024 — Vatom Inc. (“Vatom”) announced today that it has completed an initial $10 million Series B financing. The company will use the proceeds to expand Customer Success, Marketing, and Product teams supporting its rapidly growing customer base. The Series B will remain open for anticipated additional investors in the coming months.
The company’s valuation was set at $125 million, driven primarily by its unique platform offering and its growing roster of Fortune 500 customers. Vatom was recently named by INC Magazine as one of the top 5000 fastest-growing companies in the USA.
The round is being led by GSV AirCO, a global venture capital fund focused on the rapidly growing digital education market. Michael Moe, founder and CEO of GSV will join Vatom’s board of directors. Current investors in Vatom include iHeart Media, Galaxy Digital, Raine Group, and Bat VC.
“We are excited and honored to have such a well-known and respected company partner with us to help bring our vision and products to the world,” said Eric Pulier CEO and founder of Vatom.” Our unique solution has become the customer engagement platform of choice for some of the largest companies in the world, including Google, PepsiCo, P&G, Deloitte, Dentsu, iHeart Media, among others. We are looking forward to Vatom’s next stage of growth, and to see how it will shape the future of customer engagement.”
About Vatom Vatom is a next-generation customer engagement platform. Our unique solution has become the engagement platform of choice for some of the largest companies in the world, including Google, PepsiCo, P&G, Deloitte, E&Y, Visa, iHeart Media, and Dentsu, among others. https://www.vatom.com
INVESTMENT CONTACT INFORMATION Marc Delesalle Managing Director Strategy & Alliances marc@vatom.com
Following Cypress Growth Capital’s Investment, Privy Founder and CEO Scott Fahl to Launch Speaker Series
DENVER, Feb. 15, 2024 — Privy, a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital.
Founded in 2019, over the past two years, Privy has grown its customer base by 1000%, setting itself apart as a prop-tech success story that allows real estate investors and agents to find profitable deals with “push button” simplicity. The platform culls extensive market data from a variety of open and exclusive sources, including Multiple Listing Service (MLS) data, and then applies proprietary algorithms to identify those properties most likely to be successful, low-risk investments.
Scott Fahl, Founder and CEO of Privy expressed pride and excitement when discussing the future of the company and the team’s commitment to innovation. “This is such an exciting time for us at Privy. Cypress Growth Capital is the type of partner we needed. They have the experience to help us scale strategically and understand what we mean when we say we want to change the real estate investing game.”
“Privy has an innovative SaaS solution serving a rapidly growing segment of the real estate investment market,” said Cypress Growth Capital Managing Director Vik Thapar. This investment underscores confidence in Privy’s unique position in the real estate investing space. The additional capital will be used to further invest in the product, improve customer experience, and build sales channel expansion, including a series of speaking engagements with Scott Fahl.
American Lending Conference has invited Scott to be a Special Keynote Speaker on February 28, 2024, in Fort Lauderdale, Florida. Scott will discuss his experience in lending and how it led to the manifestation of Privy as a way to help real estate professionals capture more business. The following month on March 8, Scott joins a panel discussion at The National Private Lenders (NPLA) Conference in Miami to discuss how data analysis, the power of artificial intelligence, and the efficiency of automation are transforming private lending in real estate.
About Privy Privy is a fast-growing prop-tech company on a mission to empower investors and homeowners to build wealth through real estate investing. Serving real estate investors, and the agents and lenders who work with them, Privy’s SaaS solution is built to find, analyze, and track markets to uncover the best investment deals first regardless of experience level or economic climate. Leveraging comprehensive direct-to-MLS data and patent-pending Investor CMA technology, our real estate investing platform unlocks better analysis, higher transaction volume, long-term client loyalty, and increased returns with the click of a button. Based in Denver, Colorado, Privy was founded by Scott Fahl in 2019. Learn more at www.privy.pro, or follow us on LinkedIn, Instagram, and Facebook.
About Cypress Growth Capital For an entrepreneur considering growth funding, Cypress Growth Capital provides an innovative alternative to equity and traditional debt. Our firm invests in emerging companies using a royalty-based approach that preserves an entrepreneur’s equity and control. With more than 50 investments in premier software and technology-enabled services companies since 2011, Cypress offers a flexible, patient form of debt capital that is well-suited to the unique financing needs of fast-growing companies. In addition, as both a debt and equity investor, Cypress partners with entrepreneurs through multiple stages of growth, providing select equity capital alongside our non-dilutive royalty financing, allowing companies to access the funding they need now, but with far less dilution. Providing more than just capital, our partners have extensive operating and entrepreneurial experience and bring useful, practical assistance to our portfolio companies. Learn more at: https://cypressgrowthcapital.com/.
The data-centered music financing platform has raised over $120M in 18 months as demand grows for new financing solutions among independent artists
NEW YORK, Feb. 15, 2024 — Duetti, a music financing platform democratizing the music business by enabling catalog monetization for independent artists, today announced $90M in new funding. This includes $15M of new equity, alongside a new $75M credit facility. The equity financing is led by Nyca Partners, alongside Viola Ventures, Duetti’s lead seed equity investor, and Cohen Circle. The $75M credit facility is provided by Northleaf Capital Partners. The latest funding underscores Duetti’s ability to acquire catalog tracks at scale, and highlights the increasingly positive long-term financial outlook of the independent music market.
“The music industry has evolved and independent artists are bucking tradition and approaching their careers in new, savvy ways,” says Duetti CEO and Co-Founder Lior Tibon. “At Duetti, we are dedicated to making the industry more transparent and unlocking new opportunities for independent artists who are normally overlooked by the investment community and the more traditional label system.”
Duetti’s model unlocks immediate cash flow for a wide range of artists, allowing them to sell master catalogs, individual tracks, or parts thereof, an opportunity previously only accessible to a small group of A-list artists. The new funding will support accelerated growth of Duetti’s catalog acquisitions, development of proprietary advanced prediction and analytics technology, and expansion of unique catalog marketing capabilities. Duetti recently opened offices in New York, Los Angeles, and Miami to support the growing team.
“We are excited to partner with the Duetti team on their creative efforts to provide liquidity to independent artists”, says Jeremy Solomon, Partner at Nyca. “The company’s data-forward approach combined with its partner-centric model puts Duetti in a position to become a critical and scaled player in the music investment space.”
“Northleaf is delighted to partner with Duetti to support the company’s continued growth, leveraging our combined expertise to drive industry-transforming opportunities for artists and investors alike,” added CJ Wei, Director at Northleaf. “Their innovative systems and operational processes are impressive and we believe they are well-positioned for ongoing success.”
Duetti has quickly emerged as an essential business partner and trusted ally for over 250 artists across all genres and career stages – including Olivia O’Brien, Sevyn Streeter and Łaszewo. Offering a wide range of financial options, Duetti’s deals typically start at $10,000, reaching up to $2M per transaction. The independent artist segment has grown exponentially in recent years. According to Luminate, 436,000 total tracks were streamed 1M times or more globally in 2023, a 17% increase versus the prior year.
“I could not ask for much more from Duetti – they bought a number of my tracks and will increase my streaming performance while providing me with upfront cash to help me focus on my next projects,” said Brent Morgan, Singer, Songwriter, and Duetti Artist Partner. “Working with Duetti was transparent, fair, and a much needed breath of fresh air in this industry.”
Artists with tracks that have been on streaming platforms for at least 2 years, and have garnered at least 500,000 streams in the last 12 months can learn more about master sale opportunities on Duetti.co.
About Duetti Duetti was founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, with the mission of getting a wide range of artists quick and easy access to catalog sales and unlocking new investment opportunities. Leveraging their experience in streaming and support from music and tech’s most innovative investors including Nyca Partners, Viola Ventures and Roc Nation, Duetti’s music financing platform has helped over 250 artists receive up to $2M per transaction. The unique model provides data-driven prices for established tracks, allowing artists to sell individual tracks or even parts thereof, while Duetti then markets those tracks going forward using unique ROI-focused techniques.
Unlocking hydrogen for industrial decarbonization with quick-to-market materials for trucking and beyond
CHICAGO, Feb. 15, 2024 — Today Celadyne, the decarbonization and hydrogen solution company, announced that they have raised $4.5M in seed investment funding. The round was co-led by Maniv and Dynamo Ventures, with major participation from EPS Ventures.
Celadyne was founded by Gary Ong, with a Ph.D. in Materials Science and Engineering from the University of California, Berkeley. He got his start at Sputnik Accelerator, and as a fellow at the Chain Reactions Innovations program at Argonne National Laboratory. The company collaborates with fuel cell and utility firms, offering efficient hydrogen solutions to heavy-duty industries such as energy, manufacturing, and transportation. Celadyne’s advanced technologies effectively convert hydrogen to usable energy through compact, easy-to-use fuel cells that seamlessly integrate.
“At Celadyne, our mission is simple: unlocking the true potential of hydrogen,” says Gary Ong, Ceo & Founder at Celadyne Technologies. “This new funding will accelerate our product in the market as we aim to decarbonize industries like transportation and manufacturing, offering a cost-effective route for green hydrogen production. Our goal is to embrace these industries, helping them contribute positively to the planet.”
Specifically, Celadyne’s materials and technologies replace the proton exchange membrane to create fuel cells that are more durable, and electrolyzers that are more compact and efficient. This newfound durability allows fuel cells to be utilized as an environmentally-friendlier alternative to diesel engines, and makes electrolyzers that produce low cost green hydrogen as fuel.
“Like many decarbonized energy solutions, widespread hydrogen adoption faces a clear chicken or egg problem,” says Jake Wieseneck, Principal at Maniv. “Celadyne is solving both sides of the problem, by creating high-value hydrogen use cases while simultaneously reducing hydrogen’s cost to fuel growth. As believers in mobility innovation’s ability to catalyze generational change, we’re proud to back companies like Celadyne that are enabling a more sustainable future by creating new building blocks for the movement of people and goods.”
This latest funding will expand upon capital from Shell Ventures, Sputnik ATX, the Third Derivative Accelerator, and Sandy Spring Climate Partners. Celadyne has been publicly and financially supported for their world-changing hydrogen applications through grants from the US Department of Energy, National Science Foundation, ARPA-E, and Department of Defense – AFWERX. These entities, along with Celadyne’s customers, who are Tier 1 automotive leaders shaping the future of mobility worldwide, believe that advanced materials hold the key to unlock the full potential of hydrogen.
“At Dynamo, we believe in the importance of decarbonizing the supply chain,” says Jon Bradford, Co-Founder & Managing Partner at Dynamo Ventures. “Celadyne is redefining how logistics can be decarbonized, with their deep expertise and granular understanding of the potential of hydrogen. This investment isn’t just the next step – it’s the future of energy and mobility as we know it. It’s the beginning of a greener, more efficient industry, and planet.”
“Eastern Pacific Shipping (EPS) believes in investing in the future of maritime and sustainability,” says Gary Ong, Investment Manager at EPS Ventures. “While the shipping industry is vital in our modern world, it is also challenging to decarbonize. We’re excited to support Celadyne’s growth in creating green hydrogen solutions capable of completely transforming how we conduct these operations. Backing Celadyne means backing a cleaner future for the maritime industry.”
This latest funding will expand upon previous capital from Shell Ventures, Sputnik ATX, and the Third Derivative Accelerator and Sandy Spring Climate Partners. The capital will be used to expand on the team’s growth with engineers coming from Siemens Energy, Argonne National Lab, The US Navy, Micron Technologies, Hyzon Motors, and Northwestern University. The team will support the ongoing development of Celadyne’s materials technology, to create even better fuel cells and expand its usage in electrolysis across its growing list of clients across the US. By year end, Celadyne expects to double its customer base and these developments will open up a whole new world for green energy applications in industries that are historically some of the harshest on the environment.
About Celadyne Technologies
Celadyne is an American technology company that provides hydrogen solutions to the energy industry. Celadyne works with fuel cell and utility companies to provide advanced technologies and materials that are capable of effectively converting hydrogen to usable energy. Its production and use of hydrogen is more efficiently used across heavy duty industries such as energy, manufacturing, and transportation. To learn more, please visit https://www.celadynetech.com/.
