Climate change is here, and with it comes a biodiversity crisis of unprecedented scale in human history. Tech will play a big part in working towards a more sustainable future. No doubt, we will see more impact venture investment flowing into startups that will or want to make a difference. As we have sparred with impact VC funds and Climate and BioTech startups and scaleups on several occasions before, analyzing UK-based female-founded and female-led nature intelligence company NatureMetrics fell right into one of our sweet spots.
Stepping Up The Game in Biodiversity Monitoring
Compared to single metrics like carbon, natural ecosystems and biodiversity is very difficult to measure. Just think about the high complexity marked by multiple interactions in natural ecosystems. Conventionally, biodiversity monitoring methods consist of people going out on their own and manually observing individual species. No surprise, these methods lack standardization and data comparability across space and time and provide only low-resolution data on very few taxonomic groups.
On top of that, these traditional methods can be rather dangerous in the field. Too often, local stakeholders are not empowered and encouraged to contribute knowledge, while businesses do not accurately account for their impact on biodiversity. This makes it difficult to set or report indicators and reach meaningful targets and goals in sustainability management.
Overall we had a very positive experience with the team from P&B. They walked us through the process, were very approachable, and had a high level of empathy. Also, they were very quick and responsive, which for us as a startup wanting to close the deal, was very important.
Based on the feedback, which was really helpful, we decided to increase the team and round size. We also requested P&B to support us in implementing recommendations from the report and interview CTO candidates. We definitely learned from the Tech DD and are still learning.
Katie Critchlow, CEO, NatureMetrics
Tech Due Diligence at the Nexus of Biotech and Big Data
With our track record in assessing Climate and BioTech, the product and technology due diligence for NatureMetrics came naturally. Based on industry expertise and current best practices, we aimed at providing a comprehensive overview of the product, the team, its processes, and architecture.
The report gave our client Ananda Impact Ventures a clear understanding of potential risks and opportunities. Our 360 degree assessment framework came into play – our signature approach. This means, we evaluate the big picture, including business and growth strategy, as well as looking into nitty-gritty details, such as coding, hosting, security and privacy.
NatureMetrics brings the power of genetics to frontline ecology. They use eDNA analysis to monitor biodiversity and measure natural capital in the environment by uncovering multiple species from complex environmental samples in low-cost and repeatable ways. NatureMetric’s focus is on the use of high-throughput sequencing technology for rapid characterization of whole communities, backed up with targeted assays for detecting individual species of interest. The methods used are applicable in any terrestrial or aquatic environment.
About Ananda Impact Ventures
Ananda Impact Ventures is the leading impact venture capital fund with a pan-European investment remit, managing ca. €200 million in four Core Impact Funds, with backing from notable institutional and private investors. Ananda backs technology businesses committed to having a positive impact that answers the most pressing social and ecological challenges of our time, in a way that is both scalable and sustainable. The active portfolio includes Klim (Carbon Farming), Open Bionics (bionic prostheses for children), IESO Digital Health (online psychotherapy) and Ororatech (which uses satellite technology to combat forest fires).