TLDR:
- Sustainability startup Signol, which uses behavioral science to reduce emissions in shipping and aviation, secures £2.5m investment.
- Investment round led by TMV, with participation from Ultrabulk, MOL, and others.
Sustainability startup Signol, known for utilizing behavioral science to decrease emissions in shipping and aviation, has successfully gained a substantial investment of £2.5m. This tech-enabled behavior-changing service aids industries in fully engaging their workforce to reduce emissions through daily tasks. The investment round was spearheaded by New York-based venture firm TMV, focusing on legacy industries like healthcare, future work, and maritime. Other key investors included Ultranav, MOL PLUS, and London-based East Innovate, a previous funder of Signol.
The involvement of Ultranav and MOL in the investment signifies a significant endorsement from the maritime sector, with Signol’s approach already resulting in more than 100,000 metric tonnes of CO2 savings for aviation and shipping companies. By optimizing human decision-making, the company has achieved fuel consumption reductions of up to 12% in shipping and 1% in aviation. TMV’s co-founder emphasized the importance of investing in solutions that can generate immediate sustainability and efficiency improvements in traditional industries.
Marina Hadjipateras and Per Lange from Ultranav will also join Signol’s board, strengthening the partnership between the startup and the maritime industry. This investment showcases the industry’s recognition of Signol’s human-centric approach as a critical component of companies’ sustainability strategies, highlighting the potential for impactful change within hard-to-abate sectors like shipping and aviation.
Overall, Signol’s success in attracting investments from renowned shipping entities and venture firms underscores the growing emphasis on behavioral science-based solutions for emissions reduction and operational efficiency in the maritime sector.
