Turquoise backs carbon-negative mobility app SKOOT through the Low Carbon Innovation Fund 2.
"We were impressed by the SKOOT team who are already proven entrepreneurs. SKOOT has advantages of safety, cost, environmental impact and regulation compared with taxis. The platform is already built and robust and we see potential for large scale and international expansion of this innovative business."
XBTO led the seed round to support pilot programmes and regulatory preparations for Nayms.
"This pilot represents a small but significant milestone for Nayms as we move into 2021 with accelerating traction. It is our belief that the problem of scaling insurance protection for the digital asset space will be solved through a collaboration between regulated underwriters/brokers and capital markets. Nayms is building the infrastructure to facilitate this collaboration."
The seed round was backed by Sir Rod Aldridge and Eddie Jordan to support product development and international growth.
"We also devoted a lot of time to both the functionality and design of our bike, aesthetically upgrading the utilitarian style of the traditional exercise bike. The support from our investors will allow us to advance our growth, expand our product offering, and enable us to innovate even further."
JPIN Venture Catalysts led the £2m investment to support platform development and user growth.
"We are delighted that JPIN VCATS has decided to back our growth. The COVID pandemic has accelerated the adoption of digitization within financial services. Getting affordable finance into the SME segment at scale is going to be critical to our global economic recovery and we are thrilled to have Venture Catalysts support to help us to scale our reach in India."