ESG Bay, an environmental, social, and governance (ESG) self-assessment platform, has recently secured a pre-seed investment.

The UK-based company assists organisations in gauging their climate and societal impact by applying universal metrics and generates lucid ESG assessments for customers, communities, stakeholders, and the broader public.

The six-figure investment amounts to £135,000, gathered from several investors through the FundMyPitch platform. Bigspace Investments Ltd. spearheaded the funding round, which was supplemented by various angel investors. The fundraise exceeded ESG Bay’s initial goal of £75,000 by 180%.

ESG Bay’s mission is to make ESG assessments accessible and comprehensible to businesses of all scales. The platform provides easy-to-understand assessments and recommendations, enabling companies to accurately measure their climate impact. Their unique offerings put them at the forefront of the climate tech sector.

The funds acquired will be allocated to expand ESG Bay’s operations as well as increase its personnel by 50%. The platform intends to utilise the investment to enhance its ESG assessment technology, magnify customer acquisitions, and enlarge its team of climate tech experts. This development is in addition to a prior grant received from Innovate UK.

FundMyPitch played a crucial role in the successful investment round by employing AI algorithms on their video pitch platform. ESG Bay showcased its innovative sustainability solution to FundMyPitch’s vibrant investor network, which includes venture capitalists, startup incubators, and various financial institutions.

Steven Mooney, CEO of FundMyPitch, praised ESG Bay’s work: “The work that ESG Bay is doing to drive climate monitoring is transformational for businesses, helping to ingrain climate impact at the heart of their operations. Connecting the next wave of budding entrepreneurs, start-ups, and SMEs, like ESG Bay, with access to funding is an essential part of the UK business economy, encouraging growth and innovation.”

Meanwhile, Agnieszka Petrzak, CEO of ESG Bay, expressed her excitement about the future: “FundMyPitch has exceeded expectations by providing ESG Bay with access to the vital funding we need to scale up our business. Working with Steven and his investor networks will enable us to further develop our ESG monitoring capabilities and support businesses with their climate goals.”

Previously, ESG Bay was a recipient of a grant from Innovate UK, which enabled them to initiate the development of their ESG assessment technology.

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Source: Fintech Global