TLDR:
- Sunswap, a clean-tech startup based in London, raised £17.3M in funding to decarbonize cold chain logistics.
- The funding round was led by BGF, with participation from Shell Ventures, Dutch venture capital fund Move Energy, and existing backers Barclays and Clean Growth Fund.
Sunswap, a London-based clean-tech startup focused on decarbonizing cold chain logistics, has secured £17.3M in funding. The funding round was led by BGF, a venture capital firm, with participation from Shell Ventures, Dutch venture capital fund Move Energy, and existing backers Barclays and Clean Growth Fund. Sunswap plans to use the funds to accelerate the development and production of its zero-emission transport refrigeration units (TRUs).
The company, led by CEO Michael Lowe, offers a purpose-built electric transport refrigeration unit called Endurance, which is designed to decarbonize the global cold chain industry. Endurance is powered by battery technology and solar panels installed on the roof of the trailer, eliminating the need for diesel fuel. Founded in 2020, Sunswap aims to tackle environmental challenges by providing sustainable solutions for cold chain logistics.
This latest funding round signifies investors’ confidence in Sunswap’s innovative approach to reducing carbon emissions in the transportation and logistics industry. With a focus on sustainability and environmental impact, Sunswap is poised to make a significant contribution to the shift towards clean energy and sustainable practices in the cold chain sector.
