Blockchain for Sustainability | Funding Tracker
Volume 3 | 1H September 2022 | 4 Companies
Here is the third edition of our funding tracker, and in the first half of September, we identified four companies that have raised funds and are building blockchain-driven solutions that can have a positive impact on ESG or SDG themes.
Recently Funded Blockchain for Sustainability Companies
GRNGrid Association:Â GRNGrid Association is an environmentally friendly layer 1 blockchain protocol tailored to encouraging renewable energy usage across the blockchain ecosystem. The company allows its users to use nodes that draw energy from renewable sources. In addition to this, the GRDGrid association manages the ReCharge program, enabling network validators to repurpose their hardware and manage waste. The company recently raised $50 million from GEM Digital Ltd. and intends to use this cash to drive new connectivity with top crypto exchanges, while further building blockchain technology and infrastructure.|Â more
Bitgreen:Â Climate Change has become one of the most important challenges facing the world economy. To expedite this commitment, Bitgreen tokenizes renewable energy and forestry carbon credits, allowing investors and corporations to take an active part in climate action. The company recently closed a $5 million registered crowdfunding round through the Republic platform, reaching its goal in under four hours. Through the newly injected cash, Bitgreen will launch its parachain (application) on Polkadot blockchain as a singular impact investing blockchain, in addition to a dedicated carbon market and a compliant impact investing platform.|Â more
Hillridge: Extreme weather events resulting from climate change can take a heavy toll on farmers. In addition to this, legacy insurance providers demand large premiums due to weather uncertainty. To address this, Hillridge provides affordable weather insurance policies against extreme weather events. The company leverages AI and ML to predict certain weather patterns and provide affordable insurance solutions to farmers. The insurance contract is stored on the blockchain, making it tamper-proof. The company recently participated in a $2.3 million seed funding round, co-led by InterValley and Artesian Venture Partners, while Sangha Capital, ACTAI Ventures, and WAVIA also participated. The newly raised funds would be used to expand the company’s market presence across SEA. | more
Immunity.Life: Due to a lack of efficient healthcare data management systems and inactive patient participation, agencies find it tough to aid deployment in developing countries, losing resources and desired outcomes. Immunity.Life eliminates geo-economic barriers to treatment, enabling sustained compliance throughout. In addition, the company provides secure data management solutions and token-reward techniques to keep patients engaged. Recently the company raised its seed round worth $2 million led by BluFolio. The raised cash will be used to implement in-country fieldwork for HIV treatment and vaccination management in Africa. | more
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