Mott MacDonald Ventures has joined the Clean Growth Fund and Green Angel Syndicate to back the energy flexibility platform.
"Strategic partnerships are very important for facing up to the challenge of decarbonisation, so it’s fantastic to close our Series A round with a like-minded investor that is as ambitious as we are. Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions"
The seed round was led by Green Angel Syndicate with participation from a syndicate of green investors and industry partners.
"This funding round will enable us to scale up our development and launch our business providing next-generation greenhouse gas monitoring. Our unique quantum Lidar is the right solution for the challenge of how to effectively measure industrial methane emissions, and meet the major commitments that the oil and gas majors have made to control their greenhouse gas emissions."
Green Angel Syndicate led the investment round to accelerate international expansion and support team growth.
"This €2 million investment will allow us take our technology further into the European market and also enter the exciting North American market. We are planning to action our aggressive hiring plan over the coming months and grow our team significantly. This will initially focus on building our capacity to tackle major water management and sewer pollution issues through the hiring of software engineers, data scientists and drainage engineers, as well as expanding our marketing team to raise awareness of our products"
The funding round includes backing from Green Angel Syndicate as the company develops zero-waste packaging technology.
"Our aim is to make household staples truly sustainable and accessible to all, in terms of how products are made, used and priced. To help as many people as possible gain access to our service, we will need to be innovative throughout: with the design of the website, the packaging, marketing, the business model and more. This latest investment round will help us grow to scale economies, develop the closed loop and build our tribe."
