Innovate UK, the UK’s innovation agency has awarded London based startup Kooling a share of its £191 million Sustainable Innovation Fund. The new funding will be used to launch new products and services building on Kooling’s existing proprietary technology.
Kooling’s selection is in recognition of the important role the company can play in supporting the UK Government’s agenda in two crucial areas: accelerating the recovery of British businesses that have been hit hard by the pandemic and the achievement of the country’s ambitious target to cut carbon emissions to Net Zero by 2050.
The company, founded by David Falconi, solves the critical challenge of achieving accurate carbon emissions measurements where data is poor and/or unavailable. By using Machine Learning and Big Data Analysis, Kooling succeeds in delivering measurement and actionable insights for causes of Climate Change and Air Pollution such as mobility and transport. Thanks to a disruptive approach underpinned by scientific research and leading edge technology, Kooling can enable organisations to improve environmental and financial performance, raise employee awareness while simplifying compliance to prescriptive regulatory requirements.
Innovate UK Executive Chair Dr Ian Campbell said: “In these difficult times we have seen the best of British business innovation. The pandemic is not just a physical and mental health emergency but one that impacts society and the economy as a whole. Kooling along with every other initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”
David Falconi, Founder & CEO of Kooling adds: “This provides an incredibly exciting opportunity for new innovation which is at the heart of the UK’s recovery from the pandemic. We are excited to be receiving this prestigious recognition for our plan of action to create a sustainable economy by helping businesses boost their green credentials and achieve a Net Zero status. At a time when the UK Government and leading businesses are working to meet ambitious environmental targets, we are working hard to provide the best technology to help climate leaders achieve their goals. ”
About Innovate UK, part of UK Research & Innovation
Innovate UK is the UK’s innovation agency. Innovate UK works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy – delivering productivity, new jobs and exports. Innovate UK aims to keep the UK globally competitive in the race for future prosperity. For further information and to stay updated on the latest news visit www.gov.uk/innovateuk
Kooling is a technology company founded in 2019 and headquartered in central London. Kooling’s mission is to leverage Big Data and Machine Learning to drive global decarbonisation. To know more reach out by writing to [email protected] or visit www.kooling.io