Members of cohort focused on improved road safety hardware, energy efficiency, and climate-friendly building design.
In honor of Climate Week NYC, Urban-X graduated their sixth cohort of startups using innovative technology to address urban climate change issues.
Urban-X invested $150,000 into the seven startups and helped the minds behind them with wide-ranging support as they got off the ground. Each organization addressed environmental issues in a different way, leveraging new technology to save resources and reshape how people think about the world around them.
“Through technology, investment and mentorship, URBAN-X, MINI, and Urban Us are supporting founders working to make city life better. We’re excited by the innovation exhibited by these teams and are thrilled to continue to help bring their products to market at scale,” said Shaun Abrahamson, a member of the URBAN-X Investment Committee and Managing Partner at Urban Us.
SEE: The Internet of Wild Things: Technology and the battle against biodiversity loss and climate change (TechRepublic cover story) | Download the free PDF version (TechRepublic)
In addition to the funding, Urban-X cohort members gained key development resources and business advice throughout the 20-week URBAN-X program. Each company got to present their idea during an event in Brooklyn on Thursday.
“They’ve helped immensely, not only from a business perspective, helping us refine the model. But also on our product and with a ton of introductions to partners and some utilities,” said Jamail Carter, co-founder of water quality analytics firm Varuna. “We’re so excited to work with the Urban-X team and their residents as well.”
The seven companies will now move on to fundraising in an effort to scale up their businesses and expand.
Graduates of the program have gone on to see massive success, with multiple companies securing millions in investments after participating.
“Urban has really provided a discipline for us to move forward and organized our approach to gathering resources to help us grow,” said Jim Selevan, CEO of road safety hardware company PI-LIT.
This year Versatile Naturess and RoadBotics, members of the third cohort, managed to secure $5.5 million and $7.5 million, respectively.
Since the program was started, 80% of the companies involved have secured their next round of funding.
Urban-X is now accepting applications for the next cohort, which are due on October 1.
“In a time of unprecedented global change we put our faith in founders willing to challenge the status quo,” said URBAN-X managing director Micah Kotch. “The teams of Cohort 06 have worked tirelessly to prepare for this next chapter, and we look forward to continuing to be there with them every step of the way in their mission to improve city life.”