Energy Impact Partners (EIP), a global investment platform focused on the transition to a sustainable energy future, has participated in Rheaply’s latest investment round through its Elevate Future Fund.
Rheaply is a cloud-based resource exchange platform that connects people and organizations with resources, improves reuse outcomes and catalyzes the circular economy.
Earlier this summer, Rheaply announced a $20 million raise focused on driving a revolutionary shift in enterprise resource management. This funding round makes Rheaply co-founder and CEO, Dr Garry Cooper Jr, the single highest-funded Black entrepreneur in climate tech in the city of Chicago. With this funding, Rheaply intends to further scale its tech development efforts, develop its consulting services to help more organisations strategically progress toward their sustainability goals, and grow its partnership program to bring more industry, technology, and community partners into the circular economy.
Launched in 2021, the Elevate Future Fund brings EIP’s proven investment model to early-stage innovation markets, seeking to achieve significant, positive social impact returns on capital by increasing diversity in the broader energy transition industry, and supporting pathways towards a more inclusive venture capital ecosystem. The fund makes direct venture investments in promising early-stage companies, offers credit for established businesses, and selectively teams with and invests in incubators, accelerators, and funds, with a focus on building a portfolio founded or run by diverse talent.
