Xylo Systems, an AI-based data platform to help people manage and conserve endangered species is one of eight companies backed by Sydney VC Investible’s early-stage Climate Tech Fund in its first round of investment.
The total amount Investible has pledged to the climate startups has not been disclosed, and the fund is still meeting its goal of $100 million, having collected $30 million in pledges to date. The fund plans to make initial investments for up to five years.
The eight initial investments span four countries, ranging from logistics to biodiversity, agriculture and circular economy, and were made as early as March. Investible said an additional eight investments have been approved in Pre-Seed to Series A companies.
The first announced investments are in Kite Magnetics, a Melbourne-based deep technology company building smaller and lighter electric aircraft engines; construction management software proptech CIM, which announced a $10 million Series A two weeks ago; Kiwi Electric Motor Startup ZeroJet; sugarcane-focused agtech Digital Harvest, which announced its Seed Round in June; corporate carbon finance screening tool Emmi; Xylo systems; designer clothing rental market Rntr, and Spot Ship, a London-based SAAS company that is reducing the time it takes a ship broker to charter a ship from 6 days to 2 hours. Spot Ship lifted £600,000 (A$1.04 million) in pagain Seed financing from Investible and Pershing Ventures in April of this year.
Xylo Systems received $150,000 from Startmate in July on a $1.5 million valuation as part of its Winter cohort, with Investible chips in the balance of a $200,000 total pre-Seed round. Goldstone-Henry was named the winner of the Australian Women’s Weekly’s Women of the Future last December and also received a grant from Taronga Zoo, which has tried out his software.
Saving Species
Founder Camille Goldstone-Henry said we lose a species every three to five minutes and while thousands of conservation teams and researchers work to save them, they don’t have an easy way to connect and share information and make informed decisions.
“The support from Investible’s Climate Tech Fund is a huge step forward in recognizing that fighting the climate crisis goes beyond reducing carbon emissions,” she said.
“Biodiversity and net zero go hand in hand. We’ve seen this huge wave of net-zero startups, which is fantastic, but it’s time for biodiversity to come into the spotlight.”
Goldstone-Henry said Xylo Systems is an easier way to measure and manage the impact on biodiversity using data, for organizations that protect wildlife and for companies that impact wildlife, such as mining and development.
“Investible’s investment means we can take this platform to the global stage and expand our offerings so that any business can become nature positive,” she said.
“By bringing biodiversity and business together, we will open more than $10 trillion in new business opportunities and help fight the extinction crisis. It’s a win-win for everyone. Chronic underfunding has limited innovation in conservation. What Xylo does is bring conservation into the 21st century and provide conservationists with tools such as AI decision support and advanced analytics. With Xylo’s platform, they can have an even greater ecological impact.”
The support for Xylo Systems comes as the federal government today added 15 new animal and plant species to its endangered list and, as part of its Endangered Species Action Plan, announced it plans to expand an additional 50 million hectares by the end of the decade. to protect the country. It will reserve 30% of the land for conservation to improve biodiversity with the goal of no new extinctions.
The VC also co-invested in a $1.85 million Seed Round for Kite Magnetics, in addition to Breakthrough Victoria, the $2 billion innovation fun of the state government. Kite Magnetics founder Dr. Richard Parsons is a Monash University researcher developing the next generation of electric aircraft engines using patented nanocrystalline magnetic materials.
Growing potential
Patrick Sieb, Investible’s co-head of climate technology, said they’ve reviewed more than 1,500 pitches and that 43% of companies completed and approved by the investment committee have a female founder, more than double the 2021 national figure of 19. %.
The Investible Climate Fund team
Tom Kline, co-chair of the climate fund, said he was excited about the sector’s potential.
“Every dollar invested in Climate Tech companies today also goes further than ever, as climate solutions can capitalize on advancements in computing, big data, robotics and automation, making it increasingly cheaper to create and scale” , he said.
“Global decarbonisation, the next major disruption is underway, and we are fully committed to investing in a resilient, sustainable future. With an influx of high-quality deal flow and a growing network of LPs and co-investors in Southeast Asia and ANZ, the Fund and our company are in an enviable position.”
Investible CEO Rod Bristow said the VC has also actively deployed capital through its Early-Stage Fund 2 and its syndicate of HNW co-investors, Club Investible. The company has completed 22 new and follow-up investments, including eight in the climate fund, with 23 more approved this year.
“For those of us who have been in a real early stage venture for a long time, the long game is always top of mind. Our primary focus is to stay closely connected with both our partners and the founders we support, ensuring they are well positioned despite external circumstances,” he said.
Meanwhile, the Sydney CBD technology hub Greenhouse – led by Investible and supported by the City of Sydney – is on track to be completed by early 2023.
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