Climate tech startups Utopi and Materials Nexus raised a combined $9 million. Here’s the pitch decks they used to win over investors.
- British climate tech startups Materials Nexus and Utopi have both raised funds recently.
- London-based Materials Nexus raised $2.8 million while Glasgow-based Utopi secured $6.3 million.
- We got a look at the pitch decks both companies used to win over investors.
British climate tech startups Materials Nexus and Utopi raised a combined $9.1 million recently.
London-based Materials Nexus is using artificial intelligence to curb the green transition’s reliance on mining metals. It raised £2 million ($2.8 million) in its first institutional funding round led by Ada Ventures.
The startup, founded in 2020 in Cambridge before moving its headquarters, is using AI and quantum mechanics to make the discovery and development of sustainable materials more efficient. The green energy transition currently relies on the extraction of materials, which can have damning consequences on the environment.
Discovering sustainable materials is slow and costly, Materials Nexus claimed, which is exactly what the company hopes to change with its modelling platform. The platform can predict the properties of new materials, which reduces the need to run physical tests and therefore cuts costs.
“Materials such as concrete, steel and glass contribute towards an overwhelming proportion of all CO2 emissions, the fact is that we’re only going to net-zero if there is a radical rethink of the materials we use,” founder and CEO Jonathan Bean told Insider.
“Finding next-gen materials that are sustainable, economical, and ultra-high performing is critical, particularly in the advancement of sustainable energy generation and sustainable energy usage. Our unique technology utilizes AI to fast-track new material discovery from years to a matter of months and can serve companies in almost all industries.”
The fresh funds will be used to grow headcount from 10 to 17 as Materials Nexus demonstrates its technology in real-world projects.
See the 11-slide redacted pitch deck from Materials Nexus below:
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Materials Nexus
Utopi plots US expansion with new funds
Glasgow-based startup Utopi, founded in 2019, recently secured £5 million (around $6.3 million) in an investment round backed by the Scottish National Investment Bank.
The company, which offers an ESG software platform for real estate such as apartment blocks and student accommodation, will use the fresh funds to enter the US market as it also cements its presence in the UK.
Utopi collects data from residents to report on a building’s ESG performance. Customers can also set targets and report on their progress across a variety of ESG metrics, which is similar to and includes carbon accounting. The platform essentially helps building managers and owners take action on issues like emissions, resident alerts, and space utilization.
Its headcount will also grow to 60 by the end of the year, with big hires across all departments including operations, commercial, compliance, engineering, customer success and product.
Check out the 13-slide redacted pitch deck from Utopi below:
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Utopi
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