Lightrock

Exciting news coming out of Brazil, as ComBio Energia S.A. announces new funding of R$ 450m (US$ ~82m) from the IFC - International Finance Corporation, the world’s largest development institution focused on the private sector in developing countries. Lightrock partnered with #ComBio in July 2023 to help scale their impactful work. Their mission is to transform industrial steam generation across industries through sustainable alternatives to fossil fuels. The company is using the first tranche of R$ 120 million to finance boilers at factories owned by food-and-beverage ingredient provider Ingredion Incorporated and tire manufacturer Pirelli. In this way, ComBio frees up equity for future growth, while the remaining capital remains accessible to fund future projects. I am delighted with ComBio's contribution to decarbonizing hard-to-abate industries in Brazil, resulting in the avoidance of over 3 million tons of CO2 emissions since the company was founded. Congratulations to CEO Paulo Antonio Skaf Filho and his team. Portuguese speakers can learn the details from the article linked here: https://lnkd.in/emWc3-H3 #ImpactInvesting #EnergyTransition #CircularEconomy

🎊 Congratulations to our portfolio companies Yubi and Niyo Solutions Inc., who have ranked in the World’s Top 250 Fintech Companies 2024 by CNBC and Statista!   📋 The report is based on analysis and weighting of KPIs for over 2,000 eligible companies spread across 8 different categories, ranging from payments to wealth technology.   💳 Yubi was selected in the Alternate Finance category, for platforms that offer clients a way to raise money using tech. Lightrock has been an early investor in Yubi since 2021, which seeks to democratise capital flow to the enterprises, investors, and lenders that it serves in India.   📱 Niyo was picked again in the Neobanking category, provides digital-only banking services. Lightrock partnered with the Indian neobank in 2022, which aims to make travel and managing finance simpler, smarter, and safer for its users.   🔗 You can find more information on 2024’s top 250 companies at the link in the comments.

9️⃣ Satispay Buoni Pasto is contributing to pioneering employee welfare programmes in Italy, just 9 months after its launch! 🇮🇹 Gruppo Iren, a leading multi-utility company, has selected Satispay to provide its 9,000+ employees with digital meal vouchers. Iren is the first Italian utility company to include Satispay Buoni Pasto into its corporate benefits scheme. 🍝 The meal vouchers are accepted in over 70,000 food operators throughout Italy. While traditional meal vouchers usually demand high commissions between 11-15%, Satispay applies zero commission on sales up to €10, and only 20₵ for higher amounts. Not only does this sustainable strategy bolster the well-being of Iren’s staff, but also the financial health of their local communities. 👏 Congratulations to the team at Satispay for this new partnership!

🆕 Our portfolio company CMR Surgical has appointed Daniel Moore as its new Non-Executive Chairman of the Board of Directors. 🦾 CMR Surgical aims to make minimally invasive surgery more accessible to patients in need with Versius, a next-generation modular surgical robot that fits into virtually any operating room. With over 35 years of executive and board leadership experience in the medical technology industry, including Boston Scientific and LivaNova, Daniel is set to steer CMR’s growth strategy and expand the reach of Versius globally. 💬 Lightrock Partner and CMR’s Interim Chairman Umur Hursever stated: “CMR has now established itself in the surgical robotics space and I know with Daniel’s experience the Company will be in an even stronger place to capitalise on a fast-growing market and deliver against its mission.” 🔗 Having partnered with CMR since 2016, we look forward to seeing its continued success under Daniel’s leadership. For more information, see the link in the comments.

🗣️ “Latin America has enormous potential to attract relevant investments to address its challenges in a sustainable way” – Tatiana Freire Sasson 🚀 With impact investments increasing from R$200 billion to R$1.68 trillion in a decade, the demand is evident. But how are they defined, and how many opportunities are available? ✍️ Read Lightrock’s Head of Impact LatAm’s op-ed to explore the distinction between impact and ESG, key factors in impact investing, and Latin America’s potential for sustainable investments. 🔗 Find the link to Tatiana’s Valor Econômico S/A article in comments below.   🌐 TRANSLATION:   🗣️ "A América Latina tem um enorme potencial para atrair investimentos relevantes para enfrentar seus desafios de maneira sustentável" – Tatiana Freire Sasson 🚀 Com o crescimento dos investimentos de impacto de R$200 bilhões para R$1,68 trilhão em apenas uma década, fica evidente a demanda existente na região. Mas como defini-la e quantas oportunidades estão disponíveis? ✍️ Leia o artigo da Head de Impacto da América Latina da Lightrock, que explora as principais diferenças entre impacto e ESG, os principais conceitos do investimento de impacto, e o potencial de investimentos sustentáveis na América Latina. 🔗 O link para o artigo da Tatiana no Valor Econômico S/A está nos comentários abaixo.

📣 The Lightrock Growth Fund I (LGFI) has successfully exited Ummeed Housing Finance Pvt. Ltd., a financial inclusion-focused finance company extending loans for new house construction and house improvements in India.   🏘️ Ummeed has developed a proprietary credit assessment system that primarily serves individuals in the informal sector, who often struggle to access credit from traditional lenders.   📈 Lightrock invested in the company in 2018. Since then, Ummeed has grown to 1,300 employees, served over 45,000 customers, and has assets under management worth over $200 million.   🗣️ Kartik Srivatsa, Partner at Lightrock, commented: “We have had an extraordinary partnership with Ashutosh and the team at Ummeed over the last five years, during which they have built one of India’s premier affordable housing finance companies. We are immensely proud of the progress and impact they have made throughout the course of our partnership. We wish them every success in their future endeavors.”

🤝 Our portfolio company Group14 Technologies has signed a multi-year supply agreement with CustomCells – the contract value of which is expected to exceed $300 million! 🔋 Lightrock partnered with the world’s largest manufacturer and supplier of advanced silicon battery materials in 2022. It has developed SCC55 – its own drop-in composite – enabling batteries to charge in minutes and last up to 50% longer than traditional solutions. ⚡ Since 2020, Group14 and CustomCells have collaborated on high-performance prototype cells. This contract ensures a SCC55 supply beyond 2030, advancing the accessibility of next generation silicon batteries to the electric vehicle and aviation sectors. 🥳 Congratulations to the Group14 team for this fantastic development!

🤖 CMR Surgical’s Versius: the small robot making a big difference in hospitals! 🦾 We’ve proudly been long-term investors of CMR Surgical, the innovators behind the next-generation surgical robot Versius. Recently, Lightrock Partner Umur Hursever chaired a Founders Fireside Chat with CMO & Co-Founder Mark Slack and CTO & Co-Founder Luke Hares at their Versius Innovation Day. The event covered its invention to its impact on robotic-assisted keyhole surgery worldwide. 🏥 Surgeons from across the globe shared inspiring stories about how Versius, with its small and modular design, is transforming hospitals and surgical practices. The discussions were not only insightful, but also highlighted the bright future of surgical robots. 🌟 Our partnership with the Cambridge-based global medical devices company has spanned 8 amazing years, and we are thrilled about the future innovations and successes ahead.

📢 Our portfolio company Dataiku has partnered with KPMG to help businesses adopt AI faster! 🤝 Together, Dataiku and the audit, tax, and advisory firm can simplify and optimise clients’ data and AI systems while ensuring that their technology is secure, compliant, and meets evolving market needs. 🤖 Lightrock partnered with the Universal AI platform in 2021. It enables professionals – from the non-technical to the data experts – to integrate data into their daily work and maximise their potential. Covering processes from advanced analytics to generative AI, Dataiku serves over 600 customers, including 200 from the Forbes Global 2000 companies. 🎊 Congratulations to the Dataiku team for securing this new alliance!

🎉 We are thrilled to welcome Ademidun (Demi) Edosomwan to Lightrock as a Partner! ⚡ Demi brings a wealth of experience and a deep passion for building sustainable ventures that accelerate the transition to cleaner, affordable, and reliable energy solutions. 💼 Demi previously led New Ventures at Vivo Energy, focusing on electric mobility and renewable energy solutions. Her impressive career - which started at KPMG - also includes her role as Managing Director, Emerging Markets at TotalEnergies across Lagos, Kampala, Paris, and London. Demi holds an Executive MBA from INSEAD and law degrees from the University of London, Nigerian Law School, and the University of Lagos.