Nonprofit Evergreen Climate Innovations announced today their investment in Varuna Tech Inc, an early-stage cleantech startup. Varuna equips water utilities with AI-powered sensors and deep analytics to monitor regulated contaminants, reduce violations and operating expenses, and improve overall water quality. Evergreen Climate Innovations invested $100,000 in Varuna and will provide them with access to resources and programs. Varuna also recently received $100,000 from the $5M Google for Startups Black Founders Fund. Evergreen Climate Innovations’s high-impact investments bridge the funding gap between research labs and universities and traditional sources of high-risk financing. Varuna is Evergreen Climate Innovations’s latest and final investment for 2020. Learn more about Evergreen Climate Innovations’s portfolio here. Evergreen Climate Innovations’s Portfolio
- 40% of portfolio companies received their first investment from Evergreen Climate Innovations
- 60% have female or minority founders
- 40% of our portfolio companies are based on university intellectual property
- 66% are generating revenues