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Low Carbon Innovation Fund 2 invests in carbon reduction platform SKOOT

Turquoise, a UK merchant bank specialising in energy, environment and efficiency, has announced a follow-on investment by Low Carbon Innovation Fund 2 (LCIF2) in SKOOT ECO GROUP.

This forms part of a capital raising round of over £1 million, which will support the business up to a planned institutional Series A in the next 12 months.
 
SKOOT was founded in 2019 to promote and facilitate lift sharing amongst friends and colleagues. Since then, SKOOT’s services have expanded to support companies on their low- carbon journey, including measuring emissions, where possible avoiding or reducing emissions, and offsetting the difference.

LCIF2 is funded by European Regional Development Fund, with the UK Ministry of Housing, Communities and Local Government as the Managing Authority.

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