BX Technologies Limited Raises £1.5m to Decarbonise the Food and Drink Supply Chain
BX Technologies Limited, a London based AI powered climate tech company is enabling the decarbonisation of the food and drink supply chain.
BX’s technology enables retailers and brands to hit their 2030, 2035 and 2040 carbon targets by unlocking primary farm data and intuitive AI to give farmers crop and field-specific decarbonising insights which is surfaced to retailers enabling them to build a planet positive supply chain to achieve their goals.
CEO Ben Bardsley has just announced the closing of their successful late seed funding round. The total raise of £1,590,000 was a combination of a follow-on investment from existing investors including carbon removal venture capital firm; Counteract and the introduction of two US investors.
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Bardsley states; “I am delighted to announce the success of this key milestone. The strength of our proposition and our position in the climate tech industry has unlocked this capital raise in a very difficult investment market. Our momentum is steadily building with early adopters across the globe recognising their crucial position within this sector.”
Matt Isaacs, managing partner of Counteract adds; “The food and agriculture sector has a critical role to play in addressing climate change, however they require technology to enable their transition to climate friendly practices facilitating information about the impact of their actions. We have been impressed with the development of BX, Ben and his team in addressing this problem. There is no doubt that BX has the opportunity to be one of the big actors in this very nascent market”
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With 37% of global CO2 emissions coming from food production, BX is revolutionising this landscape. For some time, there has been a focus on where food comes from but now with BX’s technology and insights, they are able to equip retailers and consumers with the knowledge of not just how food is grown but also what’s the environmental impact.
With end-to-end environmental credentials of the supply chain, consumers are presented with the relevant information to carry out conscious decisions when purchasing, via verified on pack labelling.
BX is quickly becoming the ‘Experian of Farming’ with the ‘BX Score’; a single metric to measure environmental impact and is being widely adopted by the global supply chain.
