Signol, a London, UK-based sustainability startup that leverages behavioral science to cut emissions in shipping and aviation, has raised €2.9 million in funding.
Investors
The round was led by New York-based venture capital firm TMV, with participation from Ultranav and MOL PLUS. London-based East Innovate, which led Signol’s previous funding round, also reinvested.
TMV is an early-stage venture firm based in New York City, investing in purposeful startups reimagining the future. The firm supports startups from seed to Series A.
Signol Use of Funds
With this new investment, Signol plans to enhance its platform for the aviation and shipping sectors and explore a proof-of-concept in corporate travel, aiming to reduce emissions from business trips.
About Signol
Signol is a sustainability-focused company that uses behavior change strategies to reduce fuel consumption and carbon emissions in aviation and shipping. Signol offers a tech-driven service that engages workers in making smarter, more sustainable decisions in their daily tasks. The company utilizes behavioral science to motivate employees towards fuel-saving actions and provides tools for managers to analyze data and track improvements.
Funding Details
Company: Signol, Ltd.
Raised: €2.9M
Round: Undisclosed
Funding Date: September 2024
Lead Investor: TMV
Additional Investors: Ultranav, MOL PLUS, East Innovate
Company Website: https://www.signol.io/
Software Category: Sustainability Solutions
Source: https://www.eu-startups.com/2024/09/london-based-signol-bags-e2-9-million-to-reduce-emissions-in-legacy-industries/