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London-Based Clearly Raises €3.9M to Target Net Zero in Supply Chains

London-Based Clearly Raises €3.9M to Target Net Zero in Supply Chains

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Clearly, a London-based platform for climate analytics has raised €3.9 million in initial money to advance its goal of accelerating net-zero ambitions throughout international supply chains. Pace Ventures and Nine Realms led the fundraising round. Notable angels including Margaux Primat and Lord Nash were among the existing investors, as well as Mobilion, Next Gear, and M1720. With this additional funding, Clearly will be able to expand its business and improve its product line to satisfy the rising demand on a worldwide scale.

Increasing AI Proficiency and Expanding Activities

London-Based Clearly Raises €3.9M to Target Net Zero in Supply Chains

Image Source: siliconcanals.com

Expanding Clearly’s suite of in-house AI capabilities, which form the basis of its climate intelligence platform, will be made possible by this new funding. With these finances, the company intends to expand its workforce and improve its current offerings in order to better serve its expanding clientele. Clearly gives fleet owners, logistics managers, and other supply chain stakeholders useful insights to help them make decisions that increase financial and energy efficiency by utilising AI and real-time data integration.

Resolving a Serious Issue in the Transportation Sector

Since the transportation industry contributes around 25% of global emissions, decarbonization is an essential goal for reaching net-zero emissions. Clearly meets this difficulty head-on by providing a platform that combines information from multiple sources, such as asset management, operations, vehicle mobility, and energy usage. As a result, businesses are able to determine which decarbonization projects are most successful and secure funding for them, making sustainability a competitive advantage.

Market Effect and Upcoming Opportunities

Clearly was founded in 2021 by Danielle Walsh, a former director of HSBC, and has since become popular with business clients in the US, Europe, and Asia. The company’s technology, which works with significant players in consumer products, package delivery, and fleet management, has already recorded data from over 100 million journeys. Given that the transportation industry is expected to invest $1.75 trillion a year in order to achieve net-zero targets, Clearly’s solutions are expected to be crucial in the global shift towards more environmentally friendly technologies.

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Concluding Remarks: Developing Sustainable Supply Chains

With this latest fundraising round, Clearly has made great progress toward its goal of decarbonising supply chains globally. The company provides organisations with real-time decision-making tools and AI-driven insights, which not only help them decrease emissions but also help them reach their sustainability goals in a way that is profitable. Clearly is ideally positioned to spearhead the push toward achieving sustainable mobility as the need for data-driven procurement and sustainable operations only grows.

 
NALA Secures $40M to Revolutionize Payments Across Africa and Beyond

NALA Secures $40M to Revolutionize Payments Across Africa and Beyond

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UK-based fintech company NALA has successfully secured $40 million in Series A funding to further its mission of enhancing payment systems across Africa and extending its global reach. This recent round of investment brings NALA’s total funding to over $50 million, following a $10 million raise in 2022. The company’s vision is clear: to construct robust payment rails that facilitate seamless financial transactions into the African continent, thereby supporting both individual and business needs in an increasingly interconnected world.

NALA Secures $40M to Revolutionize Payments Across Africa and Beyond

Image Source: financialit.net

NALA’s consumer money transfer app stands as a testament to this vision, enabling users in Europe, the UK, and the US to send secure and reliable payments to 11 African countries within seconds. This functionality underscores NALA’s commitment to making day-to-day financial transactions and business operations more efficient and reliable across Africa. Additionally, NALA’s B2B platform, Rafiki, enhances this capability by offering lightning-fast payment solutions to both individuals and businesses on the continent, promoting smoother and quicker financial interactions globally.

Remarkable Growth and Future Ambitions

NALA’s impressive growth over the past year highlights its effective business model and the increasing demand for its services. The company reported a tenfold increase in revenue, achieved profitability, and maintained positive cash flow over the last 12 months. Additionally, the past 20 months have seen a staggering 34-fold increase in transaction volume, reflecting the rising trust and reliance on NALA’s financial solutions. The team has also expanded significantly, growing from just seven members to over 100, and now serves a customer base of 500,000.

The recent $40 million funding round, led by Lauren Kolodny of Acrew Capital, saw participation from existing investors like DST Global and Amplo, alongside new investors including Norrsken22, HOF Capital, and fintech founders such as Ryan King of Chime, Vlad Tenev of Robinhood, and the founder of Klarna. This influx of capital will be instrumental in accelerating NALA’s global ambitions, with a primary focus on expanding its consumer business beyond Africa to cater to the global migrant diaspora.

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As NALA continues to build community-powered financial solutions, the company is well-positioned to revolutionize payments in Africa and beyond, fostering greater financial inclusion and accessibility. This latest funding round not only signifies investor confidence in NALA’s vision but also marks a pivotal step towards achieving their goal of constructing the payment infrastructure for the Next Billion.

MiddleGame Ventures Hits €55M Milestone Towards €150M Fintech Fund

MiddleGame Ventures Hits €55M Milestone Towards €150M Fintech Fund

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MiddleGame Ventures (MGV), a prominent Luxembourg-based venture capital firm, has successfully secured €55 million in the initial closing of its third early-stage investment fund. The fund aims for a final close of €150 million by early 2025, targeting innovative FinTech companies across Europe.

Focus on Early-Stage Financial Innovation

MiddleGame Ventures Hits €55M Milestone Towards €150M Fintech Fund

Image Source: tech.eu

The new fund will concentrate on post-seed, Series A, and Series B investment stages, targeting companies in both well-established and emerging financial service sectors. This includes areas like deep-tech and cybersecurity, which complement the FinTech landscape. MGV’s approach highlights its belief in the transformative potential of FinTech innovations to reshape the financial services industry.

“We are grateful for the support of our investors,” said Pascal Bouvier, Co-Managing Partner at MGV. “We believe that financial services are on the cusp of a wave of unprecedented innovation. This transition will enable seamless business models to emerge, removing friction and paving the way for entrepreneurs to build substantial long-term businesses.”

Support from Prominent Investors

The fund has garnered commitments from notable investors such as the European Investment Fund (EIF), the Ireland Strategic Investment Fund (ISIF), S&P Global, and the Luxembourg Future Fund (LFF). Additionally, new and existing family offices across Europe and the United States have pledged their support.

Marjut Falkstedt, Chief Executive of the EIF, emphasized the importance of FinTech in driving financial innovation. “Fintech companies are at the forefront of financial innovation by developing new digital solutions. We are glad to renew our collaboration with MiddleGame Ventures to support European entrepreneurs and contribute to the digital transition of the financial sector.”

Brian O’Connor from ISIF also highlighted the fund’s potential to support Irish businesses and contribute to the growth of the European FinTech sector. Sally Moore from S&P Global echoed these sentiments, underscoring the value of collaborating with innovative FinTech firms.

Building on a Strong Track Record

MGV has a proven history of supporting successful early-stage FinTech ventures. Some notable investments from their previous funds include Wayflyer, Keyrock, Ripple, and DriveWealth. The firm leverages its expertise to guide entrepreneurs through the complexities of the growth stage, which they refer to as the “MiddleGame.”

Also Read: Net Zero Secures $5.5M Seed Funding for Blockchain Carbon Removal Token

With the initial closing secured and several new investments on the horizon, MGV’s third fund is poised to play a significant role in shaping the future of European FinTech. The focus on early-stage innovation and strong backing from prominent investors suggest that MGV will be a key player in supporting the next generation of FinTech companies transforming the financial services landscape.

Despite a recent decline in investor appetite within the FinTech sector, MGV’s successful initial closing indicates continued interest in early-stage companies with the potential to disrupt and reshape the financial services industry. The coming months will reveal which innovative FinTech startups MGV chooses to support and how these investments will contribute to the evolution of the European financial landscape.

PQShield Raises $37M for Cutting-Edge Quantum-Resistant Cryptography

PQShield Raises $37M for Cutting-Edge Quantum-Resistant Cryptography

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PQShield, a leading cyber company specializing in quantum-resistant cryptographic solutions, has successfully completed a $37 million Series B funding round. The round was spearheaded by Addition and saw significant contributions from new investors Chevron Technology Ventures, Legal & General, and Braavos Capital, along with existing supporter Oxford Science Enterprises.

Bolstering Commercial Operations Amid Rising Demand

PQShield Raises $37M for Cutting-Edge Quantum-Resistant Cryptography

Image Source: hpcwire.com

The newly acquired investment will be pivotal in enhancing PQShield’s commercial operations as the global demand for post-quantum cryptography (PQC) solutions continues to rise. These advanced solutions are crucial for safeguarding hardware, software, and communications systems against future quantum threats. PQShield’s offerings include secure boot and update of devices, Hardware Security Modules (HSMs) for secure financial transactions, and military-grade communications systems.

PQShield is strategically positioned at the forefront of the global shift towards quantum security, a transition marked by the imminent ratification of PQC standards by the National Institute of Standards & Technology (NIST). These standards are also anticipated to gain adoption from the ISO. As governments and organizations worldwide are urged to migrate to PQC systems to protect sensitive data, PQShield’s role in the cybersecurity landscape is becoming increasingly critical.

Leading the Charge in Quantum Security

PQShield’s product suite has garnered attention from high-profile customers, including AMD, Microchip Technologies, and Collins Aerospace. The company is also heavily involved in advising governments, industry bodies, and cybersecurity agencies on transitioning to quantum security. Their advisory role extends to influential entities such as the White House and the UK National Cyber Security Council.

Todd Arfman, a partner at Addition, emphasized the strategic timing of their investment, stating, “As we approach the culmination of the NIST project, we expect newly-ratified standards to help drive rapid adoption of PQC across the technology supply chain. Led by an industry-leading team with decades of experience, PQShield has quickly established itself as a leading authority in post-quantum cryptography for hardware and software. We are excited to see the business continue to build on its existing commercial success and further enhance its efforts in protecting our digital future.”

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Ali El Kaafarani, CEO and founder of PQShield, shared his enthusiasm for the company’s mission and the impact of the new funding: “I’m immensely proud to lead our team in shaping the way our digital world is protected against the threats of tomorrow. It no longer matters when a quantum computer will arrive that can break current cryptography methods: the need for quantum-resistant encryption is here today, as governments and standards agencies push to protect our most sensitive data.”

With this significant funding boost, PQShield is well-equipped to lead the charge in ensuring that the world’s digital infrastructure remains secure in the quantum era.