Signol raises £2.5m in seed funding led by TMV to expand its behavioural science platform.
The round was led by TMV with participation from Ultranav, MOL PLUS, and East Innovate.
Signol provides a behaviour change service for emissions-intensive industries, using data and behavioural science to reduce fuel consumption. The firm focuses primarily on the aviation and shipping sectors.
Sustainability startup Signol has secured £2.5m in a seed funding round led by New York firm TMV. The capital will be deployed to refine the company's technology, build commercial traction in shipping and aviation, and pilot a programme in corporate travel.
The financing drew participation from industry stakeholders Ultranav and MOL PLUS, alongside previous backer East Innovate. The injection of funds follows notable carbon savings achieved by the firm across its transport clientele.
From the founder
"Securing investment from industry-leading companies like Ultranav and MOL is a significant endorsement from the maritime industry that our human-centric approach is seen as a critical lever in companies' sustainability strategies."
Michael Fanning
CEO at Signol
Investor perspective
"It's crucial that we invest in solutions which can have an immediate impact to improve the sustainability and efficiency of legacy industries like shipping."
Marina Hadjipateras
Co-founder and General Partner, TMV
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
