Targeting Large Cities to Support Startup Companies
The VC is hoping to finalize the funding process by mid-2021 to start supporting technology startups that are working to improve the environmental situation in larger cities. Richard Florida, the former chief sustainability officer in the Obama administration, sits on the advisory board of the company.
“Where our passions lie, the problem is huge and innovation is urgently required. The Urban Stack. The Urban Stack comprises every element of the built environment. From the way our cities are designed, constructed and powered. To the way our citizens live, work and are cared for,” the company’s manifesto reads.
2150 is founded by several people, including Mikkel Bülow-Lehnsby, who is acting as a Chairman, and Jacob Bro, Christian Jølck, and Christian Hernandez, all acting as co-founders and partners at the VC fund.
The key investor behind 2150 is NREP, a sustainable real estate fund manager based in Europe. Chairman Bülow-Lehnsby also co-founded NREP business. The VC fund intends to focus on startups that use technology to make cities more efficient and sustainable for living.
“With NREP we have been on a 15-year mission of making real estate and cities more efficient, customer-centric and sustainable. With 2150 we are leveraging all of NREP’s learnings and ambitions and partnering with our industry peers to identify and accelerate technology that can help us support our purpose of making real estate better.
“I am convinced that 2150’s mission-aligned team will play an important role in designing a future in which the convergence of entrepreneurship, technology and sustainability will reverse the built environment’s negative impact on the planet,” said Bülow-Lehnsby.
The company will only invest in small businesses that offer products and solutions where sustainability impact can be measured. The VC fund aims to invest in about 20 startup companies in the first phase by allocating €4 million to €5 million ($4.86 million to $6.07 million) for these startups. Furthermore, it will further expand its investments in startup companies it already supports.
In 2019, the United Nations (UN) called for cities to “achieve a lasting impact on communities and to ensure that no one is left behind.”
2150, a new venture capital (VC) fund that aims to support startup businesses working to reduce the carbon monoxide emissions in larger cities, said it successfully raised €200 million ($240 million).
About the Author
Avi Ben Ezra is the Chief Technology Officer (CTO) and Cofounder of SnatchBot and SnatchApp (Snatch Group Limited). He leads the Group’s long-term technology vision and is responsible for running all facets of the tech business which includes being the architect of the platforms and UI interfaces.