Bristol-based Ecologi is a subscription service that helps individuals and businesses lower their impact on the climate. Now, the company has picked up £4 million investment led by General Catalyst to become the ‘Spotify of Sustainability’.
Notably, General Catalyst has backed companies of significant scale such as Airbnb, Stripe, Monzo and Deliveroo. Also, the company bagged a smaller investment from Entrée Capital.
Utilisation of funds
Ecologi will use the investment to scale up the teams to enhance the platform, grow the climate projects procurement and reporting team, and expand the marketing and partnership teams. It eyes to have a team of 40-60 people over the next 12 months.
The investment will also allow the company to buy larger quantities of certified carbon offsets and tree purchases upfront, thereby letting them plan better, get access to some projects that would not be possible otherwise and sometimes access better prices.
Elliot Coad, co-founder at Ecologi said, “This is a new chapter for us as we’ve only ever done things on a shoestring. The investment received today will go entirely on quickly putting us on to the next milestones of climate impact. And that is an exciting prospect indeed!”
Eyes 50% reduced emissions by 2040
Ecologi was founded by three friends from Bristol, Elliot Coad, Alex Price, and Lucy Jack along with help from other co-founders – Ian Hambleton and Robert Belgrave, Alex Myers and Olly Rzysko in 2019. It operates with the goal to rollback 30 years of carbon pollution by directly funding established climate solutions at scale. Eyeing to progress its climate impact exponentially, Ecologi races towards reaching its target to reduce 50% of global emissions by 2040.