RADAR - Our selection of innovative businesses #69 | Leonard, foresight and Innovation by VINCI

Danish startup Algiecel raises €1.3 million for its algae-based carbon capture solution

The Danish startup Algiecel has just raised €1.3 million in seed funding to help achieve its aim of using micro-algae to capture carbon on a large scale. An initial pilot project lead in 2022 at the Danish Technical Institute in Taastrup, was designed to test the technology and trial potential product applications.

The startup has developed a process which consists of cultivating microorganisms in photobioreactors supplied with CO2 and nutrients, which in turn create biomass products. The products produced can be applied in animal feed, in human food and in cosmetics. Ultimately, Algiecel’s goal is to offer carbon capture as a service to industrial clients, by installing its compact mobile photobioreactors on clients’ sites.

This first step convinced Denmark’s Export and Investment Fund to invest in the project, alongside a UK-based family fund and business angels. In addition, the European Union React grant and Innobooster grant totalling €400,000 were obtained. These funds will help finance the design of the first full-scale demonstrations unit

These funds will enable Algiecel to optimise its carbon capture and utilisation technology, while paving the way for the design a full-scale demonstration unit. Algae-product application trials in collaboration with potential customers and research institutes are also in the pipeline.

PropTech1 Ventures raises €44 million for investing in real estate and energy startups

PropTech1 Ventures, a PropTech venture capital platform based in Berlin and London, has just completed the first closing of its Fund II, raising €44 million euros, with a target size of €100 million euros.

Partners already announced at the launch include Commerz Real, Brunata-Metrona Group, evoreal, JLL Spark Global Ventures, Liechtenstein Group, Otto Wulff, Scout 24 Group and Supernova Group.

This fund is designed to invest in innovative European startups that tackle the challenges created by the scarcity of natural resources and affordable living spaces. The fund targets early-stage PropTech, ConstructionTech and UrbanTech startups.

The €50-million first fund has already invested in 16 startups, including Floodflash, Beanstock, Inpera, Ecoworks and Neocarbon.

British startup InfraFleet receives £10 million to launch project supplying electric-powered equipment for use in construction

British startup and green equipment provider InfraFleet has just received £10 million from the Octopus Group. This startup aims to provide eco-friendly equipment to the construction sector to work towards carbon neutrality.

Infrafleet offers short- and long-term rental solutions which enable its customers (construction contractors, local authorities, public services, etc.) to reduce their carbon footprint. Rather than using diesel, its equipment is powered electrically, as well as through hydrogen, reducing both emissions and equipment expenses, while potentially allowing for operating hours to be extended due to the reduction of noise pollution.

The startup is still in the launch phase and is currently focusing its rental offer on one type of equipment, by creating the first fleet of electric cherry pickers in the UK.