Kathleen Egan

Earlier this week Texture, led by CEO & co-founder Sanjiv Sanghavi, announced its $7.5m seed round of fundraising with participation from Abstract Ventures, Day One Ventures, Equal Ventures, Lerer Hippeau, and a handful of angels. Dorothy Chang and I feel fortunate to count ourselves among the “handful of angels.” We didn’t invest just because Sanjiv is a close friend - though knowing him for over a decade has given us a lot of insight into his mind and how he operates. We invested for a lot of the typical reasons a VC would: Solving big problems with big potential returns - Venture investments only make sense if they have the chance to make massive returns. Texture is building the data infrastructure for energy networks - becoming a common data collection and sharing platform for every player in the energy grid, no matter the type of energy. There is already a huge gaping problem and a huge market here. Building for an inevitable future - On a macro level, as a society, we are moving more and more toward complex, interconnected energy sources as we optimize for the right balance of efficiency, sustainability and costs. Unique insight and founder-market fit - At a first glance, Texture seems like a big departure from what we originally knew Sanjiv from, as a Co-Founder of ClassPass. But since then, he has also played roles as the Chief Product officer at Arcadia, a successful energy data company (Arcadia’s CEO is also an investor in Texture) as well as an investor at Day One Ventures, investing in the energy/climate tech sector.  More details in this week's post: https://lnkd.in/eGBzXHwC

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A SAFE and convertible note had a baby and Wilson Sonsini Goodrich & Rosati was the midwife- out popped the D-SAFE! 👶🏽🎉 A new #climatetech funding instrument was announced by Elemental Excelerator last week. One of the company’s main goals is to support smaller, up and coming companies during the awkward “Scale Gap” phase between #VC funding and natural growth. It’s called the #DSAFE (Development Simple Agreement for Future Equity) and it aims to aid the process by giving companies a small amount of cash to overcome initial risks and expenses during the developmental stages of a product launch or company. How does it work? D-SAFE has a redemption clause meaning companies can choose to have their payments offered as a loan or convert to equity at the investor’s discretion. Funders and companies will have clear communication and expectations about where the money is going and how it will be applied to either the company or the projects at hand. Financiers and companies will work together with more #transparency, and that’s a great boon for #startups and VC alike. As of this month, Elemental has already invested using D-SAFE in eight different companies, including Dimensional Energy and Origen — both companies investing in innovative and out-of-the-box solutions to environmental issues! Seems like a win-win on the surface. What do you all think about the D-SAFE? Alfredo Coppola Momoka Ueda Tim Wagner Stephen D. Torres Olya Irzak Natsuho Toyama Noriya Tarutani Shin Ogawa

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Partnering with startups can help companies to "solve a product problem, create a new avenue for revenue, accelerate R&D, or accelerate time to market for a specific product," according to Otilia Barbuta, principal at HP Tech Ventures, the venture capital arm of HP. She was talking at a breakout session at Circularity 2024. "There are solutions in the market created by startups and in this circularity realm, I think it's more important than ever to partner with [them]." #climatetech #startups #climateVC

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🌍 CARBON ROUNDUP - What's in store this week? 🌿 BEST IN BUSINESS 🌿 -- Tech giants Google, Meta, Microsoft, and Salesforce launch 20 Million ton nature-based carbon removal buyers coalition https://lnkd.in/eckpGYEf -- LEGO ties employees bonuses to support emissions reduction https://lnkd.in/eHNPeMDT -- Diageo invest $110 Million to decarbonise Guinness brewery https://lnkd.in/eS_nGhny 💨 CARBON FOCUS 💨 -- 7 EU countries have plead for greater use of recycled carbon in the chemical sector https://lnkd.in/eTD7dNzv. -- Carbon pricing revenues hit record $104B in 2023 https://lnkd.in/esDbc2DR -- Forest carbon credits coined the "gold mine" of natural resources that forest owners hope to capitalise on https://lnkd.in/eCbZ2JKD 🌳CLIMATE 🌳 -- Over 30% of the world’s electricity is now generated from renewable energy sources https://lnkd.in/evP_4gH8

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Climate solutions are sometimes hiding in plain sight (or in your filing cabinet). If you're a business or non-profit executive, consider giving your employees an option for their 401k that is aligned with their values, divested of businesses they don't want to contribute to. You're essentially re-focusing investment dollars into climate solutions... helping to unlock trillions faster than you realize. I highly recommend talking to Breene Murphy He helped me see it's simpler than I thought it would be AND can help your own financial bottom line. It's a win-win-win. #innovation #climatesolutions #investment #401k #unlockingtrillions #vc #nonprofit #endowment #financier

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From Morningstar Upfront Ventures Provided by PR Newswire May 28, 2024 8:08am Upfront, Maverick Systems, The Studio Home, and Billions Join Equity Angels' First #Proptech CohortUpfront, Maverick Systems, The Studio Home, and Billions Join Equity Angels' First Proptech Cohort PR Newswire BELLEVUE, Wash., May 28, 2024 New accelerator focuses on supporting real estate technology startups with diverse leadership BELLEVUE, Wash., May 28, 2024 /PRNewswire/ -- Equity Angels, a social impact organization dedicated to fostering fair access to innovation and opportunity, names the 2024 cohort for its first-ever accelerator program. Upfront provides innovative financial solutions for agents and brokers, The Studio Home leverages Web3 visualization for curated home furnishings, Maverick Systems optimizes big data analytics for agent acquisition and retention, and BILLIONS specializes in streamlining operational solutions for high-performing teams. The founders of these startups include some of the most seasoned and unique tech entrepreneurs in real estate today. One such founder is Diana Zaya of Maverick Systems, whose father was raised in a minimalist "mud hut" in Syria, but with hopes of finding a more fulfilling life. After receiving his degree in engineering, he immigrated to the U.S. to start his family. Raised with this dedication to achievement, Diana has established a performance-based system for recruiting and retaining real estate agents. She is positioned to dramatically improve how the industry optimizes big data analytics to enhance brokerage growth strategies. "With such a diverse and seasoned group of founders, we're all learning so much from one another," remarked Equity Angels Founder Kenya Burrell-VanWormer. "We're honored to work with such inspiring founders and look forward to helping grow their businesses through our accelerator program." Upfront Founder Mukund Venkatakrishnan is a recent Harvard graduate who launched his first tech company at 17 and a real estate brokerage by 20. His co-founder Pierre Calzadilla brings extensive real estate expertise, having built and scaled growth teams at Trulia, RealScout and Local Logic. Together, they are leveraging their combined experience to create innovative solutions that financially empower agents and brokers in the real estate industry. The Studio Home Founder Nicole McGuire's passion for modernizing the homebuilding industry stems from her experience working with her family's 80-year-old construction company. She partners with homebuilders to offer curated furniture collections seamlessly integrating with their home designs. Leveraging Web3, she creates aspirational living experiences that buyers can easily envision, personalize and purchase with just a few mouse clicks. ******** We at The Dandy Horse, Inc. have a #proptech solution that increases the cash flow. #VIDAT it. #CO2 avoidance verifying and secured bicycle parking that impacts LEED V 4.1 U.S. Green Building Council #startup

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In last week’s radical Briefing, Jeffrey made a strong argument that we explore (and embrace) the “messy middle” in our endeavors to shape the future. His remarks hit a nerve with our community—we had lots of good conversations both on Substack and in our WhatsApp channel. Building on Jeffrey’s insight, I believe for organizations of all kinds to successfully navigate the ambiguity (and thus “messiness”) of our world, it is paramount to have clarity on their North Star. German philosopher Friedrich Nietzsche once observed that “if you know the why, you can live any how.” And, of course, American author Simon Sinek, in his famous TED talk, urged leaders to “start with why.” If this sounds familiar, and you count yourself lucky to work for (or run) an organization that has done the work of creating and communicating a good mission statement, consider this wrinkle: Is your mission statement, your North Star, your why clear, concise, and memorable? Can your people recite it by heart and do they truly understand your organization’s direction? Does it work not only as an aspirational tagline but as the ultimate clarifying device it ought to be? All too often, when I look up a company’s mission statement, it reads something like this: …blah blah blah blah innovation blah blah blah culture blah blah blah blah blah blah blah blah market leader blah blah blah blah blah blah honesty blah blah blah blah excellence blah blah integrity blah blah blah blah strategies blah blah blah blah… To make sure your mission statement is not just a fancy marketing slogan but truly operates as your organization’s North Star, Kevin Starr, CEO of the Mulago Foundation, created the Eight-Word-Mission-Statement: Formulate your mission statement in the form of Verb – Target – Outcome—using eight words or less. In more detail: What are you doing (verb), for whose benefit (target), to what end (outcome). It is a powerful method to clarify and create a yardstick to measure whether any activity is inside or outside your scope. Want an example? Be radical’s mission statement is “Enable leaders and learners to seize the future.” We enable by teaching tools and frameworks, focusing on leaders inside organizations, not frontline employees, to build the future, which means we don’t work on day-to-day strategy. Your Eight-Word-Mission-Statement might not be suitable for marketing materials, but it will become the guiding star for you and your team, helping you clearly understand your activities (and, equally as important, what you don’t do). It is the sentence your people can recite even at 2am if asked: What does your company (and you) do? And it provides the clarity you and your organization need to navigate the messy middle, ambiguity, and uncertainty. Lastly, you can create Eight-Word-Mission-Statements not only for the company but also for business or organizational units, teams, and even for yourself. Give it a try—and if you like, share it here. #strategy #missionstatement

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When you create the right ecosystem, everyone benefits. It's kind of like native planting. Not only do native plants thrive in the right environment, They contribute to the full ecosystem. When you, as a leader or CEO, Create the right ecosystem for your vision, Your values, Your goals, and Your people Will thrive. It's no coincidence. We can't think of our employees as cogs that only produce, We need to provide an environment for them to learn and grow, To give back to others, And to create a more rich ecosystem for your business. When was the last time you did an audit on your Operating System? Your Core Values, Core Purpose, the Niche you serve? What about your team members and Employees? As you grow, Are you utilizing their skills in the best way? What they contributed 2 years ago could be different than what they can do now. And guess what? They may be energized by a new purpose and opportunity. Just like a native plant, Their energy and "nutrients" Go back into the Ecosystem. It's a natural process, But so often overlooked by only considering productivity goals. How are you reenergizing your Ecosystem this year? It's not too late to consider your Native plants. 🌿 (Native plants to Illinois: the Rudbeckia (black eyed Susan), Echinacea (purple cone flower) and butterfly milkweed)) - Zone 5

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California's Carbon Champions in this week's Climate Tech Roundup number 21 #climatetechquartet. Cool stuff happening in our state to fight #CO2. Here are 4 #California early-stage companies working on clever ways to capture or utilize carbon. Check them out: Ebb Carbon HQ: California Founders: Ben Tarbell, Matthew Eisaman, Todd Pelman Ebb Carbon uses #electrochemistry to remove carbon dioxide from the ocean while also reducing ocean acidity. Their innovative approach not only helps combat climate change but also addresses the growing problem of #oceanacidification, benefiting marine ecosystems. Blue Planet Environmental Systems Inc. HQ: California Founder: Brent Constantz Blue Planet Systems is creating carbon-negative #concrete by mineralizing CO2 in building materials. Their process captures CO2 from industrial sources and permanently stores it in synthetic #limestone aggregate, which can then be used in concrete production, effectively turning a carbon problem into a valuable #construction material. Curious about more climate tech startup updates? Stay in the loop, I publish a new episode of my #climatetechquartet every week. Twelve HQ: California Founders: Kendra Kuhl, Etosha (Eee-tah-sha) Cave, and Nicholas Flanders Twelve is transforming CO2 into valuable products and materials. Using their carbon transformation technology, they're able to convert captured carbon dioxide into chemicals, materials, and fuels that are typically made from #petroleum. Heirloom HQ: California Founders: Shashank Samala, Noah McQueen Heirloom Carbon is accelerating the natural process of #carbonmineralization. By enhancing the ability of minerals to absorb CO2 from the air, they're developing a scalable, permanent carbon removal solution. #carboncapture #climatetech #CO2 #carbon #carbonoffset #greenstartups #cleantech #california #Innovation #carbonremoval #netzero #sustainability

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There's a really slim chance any of us get things right the first time, especially when you're trying to do something as bold as flip the narrative of 90% of startup failure into 90% success. 😳 My work at ASquared involves innovating new ways of working to accelerate positive impacts on people, nature and the planet in a way that is sustainable from a business point of view, too. 💡 In 2023 we created a new kind of accelerator programme for UK based impact startups. It was rough around the edges when we launched it, but we learned fast and adapted it into something that was really cool, and we ultimately ended up investing into a really great medical care startup. 🩺 Following that we built a new, bigger, more focused accelerator with an awesome mentorship team. 🙇‍♂️🙇‍♀️🙇 📉 However, when we went to market we soon learned our proposal was no longer fit for market due to changes in investor sentiment. So we got to work researching, testing and adapting and creating a new venture-builder like programme that is designed to solve the two biggest issues that startups face: 💷 raising capital and ⚠️ de-risking technological and market execution. In essence, our new offering, the Impact Builder, provides match-funding from £5k to £900k to pre/post revenue purpose-driven businesses in the South East of England with a need for digital products and a business-critical focus on people/nature/planet. 🌍🙋🏼🐞 Learn more about what we're doing and the support we're giving to both pre-revenue and post-revenue purpose driven businesses in my article below 👇 https://lnkd.in/gXvcZeCa #impact #startup #venturecapital #angelinvestors

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A good case of glass half full or half empty. The $2tn investment is way short of what is needed to be net zero in coming decades. But, some of the categories like battery storage capacity or solar generation have been growing 100% or more annually for the last 10 year or so. Interesting short read. #Cleanteach #Climatecrisis #Energytransition https://lnkd.in/dAy9P3Jn

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I've just written this article for Entrepreneur examining the SEC's newly proposed climate transparency rules and why everyone should care about them. These regulations could reshape how all companies (not just public) report their environmental impact, offering a clearer picture of sustainability practices. Understanding these changes is crucial not only for compliance but also for leveraging competitive advantage in a transparency-driven market. Dive into the details with me and explore how these shifts could impact your business strategy. Read the full article here: https://lnkd.in/gQ53RwTY #entrepreneur #sustainability #protip #SustainabilityPR #crisiscommunications #crisiscomm

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Climate tech startups are booming this year, fueled by regulatory support, high energy prices, and strong investment. VC-backed deals soared from $2.1 billion to $8 billion in Q1, according to PitchBook. Exits, however, remain a challenge, with total exit value dropping over 50% from 2022 to 2023, reaching $9.3 billion. Yet, there are bright spots: standout startups like Northvolt and KoBold Metals are gaining momentum. These companies are making significant strides and could be gearing up for exciting IPOs in the near future. https://lnkd.in/gWWzYsWe #climatetech #sustainabledevelopmenttechnology #inspireglobalventures

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Open-source models can be a strong lever for increasing gross margins at AI companies, especially those that have hefty cost structures (e.g., enterprise sales orgs that require significant customer success or implementation resources, as well forward-deployed AI services models common in healthcare and life sciences). One of many reasons to maintain a modular and flexible stack with minimal dependencies when building an AI company. More on the importance of flexibility in the AI stack: https://lnkd.in/eA2XATRk h/t Delip Rao #ai #artificialintelligence #generativeai #healthcare

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Prime Coalition has long taken a different tack to climate finance compared to its for-profit brethren. It makes the usual venture-style investments in startups through Azolla Ventures and also helps philanthropists direct their money to climate-related projects that it deems high impact. Trellis Climate follows the latter model with a focus on middle stages, where capital has grown scarce. #climatetech #climateVC #climatefinance

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HLC Inc is not just talking about changing the world, they're actively doing it! Negotiating with two companies to reduce landfill waste by 85% is just the beginning. Turning solid waste into valuable commodities worth a fair amount of capital is a game-changer. In addition, Public-Private Partnerships are underway to provide housing, a new railway system, and a canal with eco-friendly properties to a country. Renewable green energy projects are also in the works to provide power to several African countries. All of these impressive projects have been/ are currently being vetted personally by the HLC team. Stay tuned for more updates on how HLC Inc is changing the world! #HLCInc #sustainability #greenenergy #publicprivatepartnerships

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This is a must listen to for anyone B2B founder. How to figure out Product Market Fit. One of best frameworks I've seen in a while. https://lnkd.in/ghSmhVNB

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Imagine sailing through fundraising rounds, proving your breakthrough technology's potential, only to hit a roadblock when you get to scaling up and building a commercial plant. Some call it the "commercial valley of death." The assumption is that once climate tech solutions are proven, then industry/corporates will scale them. The reality is they're pressured to invest where there's immediate shareholder value. #mindthegap Prime Coalition’s Trellis Climate Program wants to bridge that gap. Here's how: 🌍Tapping Philanthropy: They take a unique approach by tapping into philanthropic funds to fuel high-impact projects during the middle stages, where traditional capital falls short. 🌍 Investing in Innovation: For climate tech founders, this funding model offers a ray of hope. While there are plenty of early-stage funding options, Trellis Climate fills a crucial gap by propelling proven technologies toward commercialization. 🌏Philanthropy as a Catalyst: By using philanthropic dollars as catalysts, they attract infrastructure investors willing to take calculated risks. Together, they pave the way for scalable climate solutions. Trellis Climate is getting started with investments in startups Ample Carbon and Ebb Carbon. Lara Pierpoint #ClimateTech #Startup #Innovation #Philanthropy

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We’ve just finished our 50th vineyard install of 2024. And I want to take a minute to celebrate and thank our amazing farm community. I’ve been totally humbled by how incredibly supportive, patient, and forgiving the agricultural community has been to Lumo and our team. We’re still new. New product. New supply chain. Many new team members. And as a result, we’ve made our fair share of missteps and mistakes. We haven’t been perfect. There’s no doubt about that. Many installs were a month late. But instead of cutting us loose and saying “call us when you’re ready,” every single grower we work with has been unbelievably understanding. They know we’re going to have growing pains and kinks we need to iron out. And they’ve given us the space and opportunity to do that. They’ve made us feel like a part of the community. And I don’t know if that’s because we showed up with the intent to build a product hand-in-hand with growers, listening to their feedback, learning from their experiences, and solving their biggest irrigation headaches. Or if it’s because whenever there’s an issue, we respond to their texts right away and show up to their ranch and tell them what we’re going to do differently next time. But I can tell you that the support we’ve received has been incredible and the sense of community it’s building with our team is such a powerful thing. We’re in this together. The other day a grower, who admittedly hasn’t had the smoothest onboarding, said to me, “Look, I know what great looks like. And I’m going to tell you when I’m not getting it, so that your team can continue to level up.” That’s something a coach would say, not a client… it’s a truly humbling experience to have that level of support from one of the best. And I’ve never seen it in any other industry. So shout out to all the farmers. You’re an amazing group. And I promise we will never waste or take advantage of that trust. We are going to show up and support, because we’re building something together. And we promise to make it great. That level of support and trust and long-term mindset, it’s just going to be absolute jet fuel for the growth of this business and the impact we’re ultimately going to be able to have on the world. Thank you. Very excited to share the amazing impact we’ve been seeing over the first couple months of irrigation in my next post :) #agtech #startups #agriculture #irrigation

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