Signol funding news – London-based Signol Secures €2.9 Million in Funding

The investment round was headed by TMV, a venture capital group based in New York that makes investments in legacy industries including healthcare, the future of work, ports, and mobility that are ready for disruption.

Prominent industry participants participated in the round, including the venture arm of Japanese shipping major Mitsui O.S.K. Lines, Ltd. (MOL), MOL PLUS, and global diversified ship-operator Ultranav. East Innovate, a venture capital firm based in London that oversaw Signol's prior funding round, has made additional investments.

Hard-to-abate businesses can fully engage their human workforce and take advantage of the chances they already have to lower emissions through daily tasks by utilizing Signol's tech-enabled behavior modification service.

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After receiving the €2.9 million investment, Signol's priorities will be improving its product and growing its market share in the maritime and aviation sectors. Additionally, a proof-of-concept (POC) utilizing behavior modification to lower unnecessary emissions from business travel will be implemented in the corporate travel sector.

Michael Fanning, Signol’s CEO, said: “Securing investment from industry-leading companies like Ultranav and MOL is a significant endorsement from the maritime industry that our human-centric approach is seen as a critical lever in companies’ sustainability strategies.”

TMV’s co-founder and general partner Marina Hadjipateras, added: “It’s crucial that we invest in solutions which can have an immediate impact to improve the sustainability and efficiency of legacy industries like shipping. There’s always a human factor when it comes to transforming industries – especially in maritime, whose overall market size is valued at over $152 billion and which is responsible for 90% of the way in which goods are transported. Signol harnesses the real power of people to shift operational behaviour and culture towards more sustainable practices.“

About Signol

Signol employs behavioral science to encourage staff members to make more environmentally friendly operational decisions for businesses that are having difficulty moving from reporting to actual action in their net zero strategy. By integrating your current data and procedures with our state-of-the-art behavioral modification strategies—which are supplied through a web application and communication service—we motivate your team to conserve more fuel.