Toyota’s subsidiary, Woven Capital, is investing in Climate Technology Sustainability Fund of 2150, or simply known as 2150, to help boost developments of sustainable cities.
Woven Capital, which has $800m in investable fund, is targeting growth-stage companies in mobility, automation, artificial intelligence, data and analytics, connectivity, and smart cities.
“2150 recognises that a dramatic rethinking of the urban environment is required to fuel a strong economic and environmental future,” Woven Capital Principal Michiko Kato said in a statement. “The technologies that they have already backed have the potential to mitigate over 1.6 gigatons of CO2 emissions.”
Nicole LeBlanc, a partner at 2150, said: “As the United Nations has stated, the battle on climate change will be won or lost in our cities.”
Strong backers for 2150
“Woven Capital’s investment will help us take on critical sustainability challenges in the built environment. We are actively working with entrepreneurs who are pioneering solutions that will help all of us rethink and recast urban communities to ensure an environmentally-sound tomorrow,” LeBlanc added.
Aside from Toyota, 2150’s latest fundraising also attracted investments from Norwegian sovereign climate investment company Nysnø, Credit Suisse’s Climate Innovation Fund and BMW. The latest investors joined the likes of Chr. Augustinus Fabrikker, Green Future Fund and Novo Holdings, all of which are based in Denmark.
Established in February this year with offices in Copenhagen, Berlin and London, the latest capital raising saw 2150 netting €268.2m ($310m) worth of fund, above its initial target of €200m, it said in a separate statement.
Investing in Europe, North America and Asia
Currently, 2150 is investing in five companies: Canada’s CarbonCure, which targets curbing embodied carbon in concrete, the UK’s Nodes & Links, which deploys advanced algorithms to help the managers of complex infrastructure projects, Sweden’s Normative, which help companies to measure their carbon emission, the US’ Aeroseal that reduce leaks and energy consumption in buildings by better sealing technology, and Hong Kong’s Ampd Energy that uses battery-enabled energy to reduce the use of diesel generators in construction sites.