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Low Carbon Innovation Fund 2

Springfield House, 23 Oatlands Drive, Weybridge, Surrey, KT13 9LZ, United Kingdom

Overview

Low Carbon Innovation Fund is a venture capital fund, providing equity finance for SME’s based wholly or partially in the East of England. The Fund is supported by the European Regional Development Fund (ERDF). It uses £20.5M from the ERDF which will be matched with over £30M private sector investment – generating a total of over £50M of investment in the East of England. So far the Fund has invested over £8.5M alongside £26M private co-investment in 26 investments. Turquoise International manages the Fund on behalf of the Adapt Low Carbon Group at the University of East Anglia (UEA). The Fund builds on the region's world class low carbon economy and is the largest European Regional Development Fund-funded project in the region. The Low Carbon Innovation Fund was launched in September 2010 and will run until December 2015.

Total investments
5
Lead investments
2
Investments · 12mo
0
Active investors
0

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Advanced Electric Machines

    Participated · Series A · Nov 2023

    Advanced Electric Machines develops and manufactures rare earth- and magnet-free electric motors, with technology applicable across passenger cars, motorcycles, ATVs, trucks, buses, construction machinery and marine sectors. Its platform eliminates permanent magnets and rare earth materials and replaces copper windings with aluminium, aiming to reduce supply-chain risk while delivering competitive performance, efficiency and reduced weight. AEM's technology portfolio includes advanced control strategies, aluminium coils, and higher-speed, smaller, lighter designs that have been productionised. The company manufactures at a commercial-scale facility in Washington and is leveraging that capability to develop higher-torque products for demanding powertrain and industrial applications. The recent funding will support expansion of production capacity and accelerate next-generation product development. The platform was developed at Newcastle University and is supported by existing regional investors who have backed AEM through its evolution.

  • Kelda Showers

    Participated · Equity · Sep 2023

    Kelda Showers develops patented Air-Powered and BubbleSpa shower technologies designed to minimise water and energy use while preserving the user experience. Its Air-Powered technology is verified by the Energy Saving Trust and can reduce water and energy consumption by up to 55%, with household utility savings cited at up to £465 per annum. The company targets sectors including housebuilding, leisure, hospitality, armed forces accommodation and retail, where its products are beginning to gain early adoption. Kelda positions its offering as IP-protected and differentiated from legacy approaches to water efficiency. Management says the business is preparing for an ambitious expansion to accelerate growth and scale adoption of its technologies. The company frames its mission as redefining efficiency in water usage and reducing environmental impact.

  • SaveMoneyCutCarbon

    Participated · Equity · May 2023

    SaveMoneyCutCarbon is a Bury St Edmunds, UK-based provider of a money-saving and sustainability platform offering education, advice, project delivery and an aggregated range of sustainable products and services. Led by CEO Mark Sait, the company supplies, installs and consults on technologies such as solar, EV charging, LED lighting and sustainable washroom solutions to help customers cut bills and environmental impact. It has consulted on and delivered over 1,000 major audit, energy, water and carbon reduction projects across organisations including schools, hospitals, hotels, warehouses and offices. The business uses its measurement tool, the Impact Statement, to track customers’ positive environmental impact and financial savings for every product sold or installed. SaveMoneyCutCarbon received a £5M investment and intends to use the funds to grow its growth profile and development efforts. Investors named in the article include IW Capital, Barclays Sustainable Impact Capital, the Low Carbon Initiative Fund 2 (LCIF2) and Dominic Christian. SaveMoneyCutCarbon operates an e-commerce platform and provides energy-savings consultancy, selling products and offering consultancy services to businesses, organisations and homes to reduce water and energy use. The company aims to help customers save water, cut energy consumption and lower operating costs. It combines an online marketplace with consultative project work to address sustainability needs. SaveMoneyCutCarbon was founded in 2010 and is based in Suffolk, England. The business has received external funding and plans to use new capital to grow its brand and expand across the United Kingdom. IW Capital, a London-based private investment house, has backed the company in this financing and has previously supported other British scale-ups.

  • KisanHub

    Led · Equity · Nov 2020

    KisanHub offers a ‘seed to sale’ connectivity platform that combines crop intelligence with supply-chain intelligence to ensure farm yields reach processors and retailers in good condition. The platform integrates data from crops, stores, load dispatches, satellites and field sensors to support growers, field staff, procurement managers and management teams in decision-making. Target customers are agricultural enterprises that supply retailers and processors and that work with networks of contract farmers or own farmland. Sustainability is a central focus for the company; global brewer ABInBev has implemented the platform to help meet its 2025 sustainability goals. The company plans to use new funding to grow its business in the UK and Europe and to strengthen links with local and national governments. KisanHub was founded in 2013 and has previously raised a £1.75M seed round in 2018 and just over £3M in a Series A last year. KisanHub builds an agricultural and supply-chain data platform that uses big data analytics, cloud computing and machine learning to process satellite imagery, weather stations, soil sensors and other sources. Its product offers yield predictions, pesticide application monitoring, integrated market data, compliance information and crop protection recommendations to help agronomists, suppliers, processors and retailers manage contracts and decision-making. Rather than going direct to farmers, KisanHub targets agriculture enterprises and integrates with customers' existing software and Excel systems, while enterprise partners roll the technology out to growers. The company sources data via partnerships — including Planet Labs for satellite imagery — and integrates public data rather than building its own sensors. Founded in 2013 as a Cambridge Judge Business School spin-out, KisanHub operates in the UK and has an office in Pune, India, and works with partners such as AB InBev on programs like Smart Barley. Management says the £3.4m Series A will be used to continue platform development and implement the solution across multiple geographies, focusing on consolidating positions in the UK and India and meeting demand from a major undisclosed global food and beverage partner. KisanHub provides a Crop Intelligence Platform that leverages big data, cloud computing and machine learning to bring data-led decision-making to both producers and suppliers. The company supplies data to upstream and downstream members of the food supply chain to prove food provenance and increase production efficiency from farmer to retailer. KisanHub currently serves a user base of over 3,000 enterprises and farmers. Founded by Dr Sachin Shende (CEO) and Giles Barker (COO), the company is based in Cambridge, UK. It intends to use the new funding to continue development of its technology and to expand its sales team and customer success functions. The articles do not disclose prior financing details beyond this round. KisanHub has built a cloud-based enterprise farming platform that blends diverse datasets—farm, crop, operations, weather, satellite, commodities, machinery and sensor data—to generate actionable, data-driven decision points for growers. The platform is intended to help forecast pest and disease risk, optimize irrigation timing and volumes, and schedule field operations based on predicted weather, with the aim of boosting yields while reducing inputs such as pesticides and water. Typical customers are enterprises that source produce from networks of farmers and supply processors or supermarkets; end users include individual farmers and enterprise staff. KisanHub reports a user base of over 1,000 farmers and multiple large enterprises. The company says it will use new funding for R&D, sales and customer support to expand its offerings and commercial footprint. KisanHub is partnering with NIAB to develop technical solutions for farmers and farming enterprises and to leverage NIAB’s crop research expertise.

  • Connected Energy

    Led · Equity · Oct 2020

    Connected Energy develops technology to use second‑life vehicle batteries in commercial battery storage systems and is led by CEO Matthew Lumsden. The company has sixteen operational systems across Europe, located in Belgium, Germany, the Netherlands and the UK, with its largest installation at Cranfield University in Bedfordshire, England. It raised £15m in funding to expand operations and to accelerate development toward utility‑scale project development. Backers on the round included Volvo Energy, Caterpillar Venture Capital Inc., the Hinduja Group, Mercuria and OurCrowd alongside existing investors Engie New Ventures, Macquarie and the Low Carbon Innovation Fund. The company intends to deploy the new capital to grow its project pipeline and scale implementation of its second‑life storage solutions. No revenue or user metrics were disclosed in the article. Connected Energy specialises in reusing electric vehicle batteries to build grid‑scale energy storage systems. The company’s systems range from 300kW behind‑the‑meter units to a 12MW system currently in development, and it is partnering on projects such as a 300kW/360kWh system with Suffolk County Council using 24 second‑life Renault Kangoo batteries. Connected Energy is also leading the Smart Hubs project to integrate a 14.4MWh energy storage system with technologies for decarbonising heat, energy and transport. The business has secured a new £350,000 investment to ramp up its analytic capabilities. Management says the funding will be used to analyse performance data in more detail to improve system efficiency and increase battery life. The company reports its systems are growing in size, using a range of different batteries and providing more diverse services to customers.

Team

No current team members are available.