• Climate startups solving sustainability issues receive funding to scale their solutions.
• Plug and Play is partnering with many early-stage startups that positively impact the environment.

Plug and Play, an American venture capital firm, has launched the Plug and Play Sustainability Fund I to support startups that solve environmental, social, and governance (ESG) issues.

The fund focuses on new ideas to help solve today's pressing issues, such as industrial decarbonisation, circular economy, energy transition, and water resilience.

This will build upon their Plug and Play Sustainability, which has been backing sustainability startups since 2019 and has supported companies like Heirloom, Sylvera, and Circulor. With the launch of the new fund, they are now looking to invest more in early-stage startups that will positively impact the environment.

Read more: QIC and Virescent Ventures Back Net Zero Startups

The new fund has already invested in companies like Mona Lee, Vaulted Deep, and Carbon Run with plans to invest in 20 more over the next two years.

"Plug and Play has a strong history of investing in groundbreaking sustainability startups," says Matthew Claxton, Partner & Co-Founder of Plug and Play Sustainability Vertical and the Plug and Play Sustainability Fund. "We've been early backers of impactful companies like Heirloom, Sylvera, and Circulor. The Plug and Play Sustainability Fund allows us to expand our efforts and empower even more startups tackling hard-to-abate sectors."

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Source: Plug and Play